Ola Electric Sells S1 E-Scooters Worth Over Rs 600 Crore in a Day, Says CEO Bhavish Aggarwal

Published:Nov 22, 202318:23
Ola Electric Sells S1 E-Scooters Worth Over Rs 600 Crore in a Day, Says CEO Bhavish Aggarwal

New Delhi: Ola co-founder Bhavish Aggarwal on Thursday stated Ola Electric bought scooters price over Rs 600 crore on the primary day of the sale of its mannequin S1. The manager famous that the corporate will shut the buying course of from Thursday midnight. Ola Electric had on Wednesday commenced the sale strategy of its electrical scooter, which is available in two trims - Ola S1 and S1. Ola Electric Scooter Launched in India Beginning at Rs 99,999; Verify Options, Variants & Specs.


"India is committing to EVs and rejecting petrol! We sold 4 scooters/sec at peak & sold scooters worth 600Cr+ in a day! Today is the last day, purchase will shut at midnight," Aggarwal stated in a tweet. In a blogpost, Aggarwal stated after the acquisition course of began, customers responded by reserving the Ola scooters in "unprecedented numbers".

Noting that the corporate had bought scooters price over Rs 600 crore in 24 hours, Aggarwal stated: "That's more, in value terms than what the entire 2W industry sells in a day! Make no mistake, the age of EVs is here". "This response is beyond our expectations and given our production plans in the coming months, today will be the last day for consumers to purchase their Ola S1 and S1 Pro scooters. Those who have already reserved can purchase until midnight tonight at which point, the purchase window will close," he added.

Aggarwal emphasised that India has enormous pent up demand and an enormous home marketplace for two-wheeler EVs. "We must leverage this to drive innovation, a robust local EV ecosystem and make India not only a big EV market but also a global EV manufacturing hub," he added.

Whereas the sale of the e-scooter was to start out on September 8, it was postponed by per week to September 15, as the corporate confronted "technical difficulties" in making the web site for purchases reside for patrons. The e-scooter is offered for buy on the Ola App solely presently, and never on the web site. Deliveries will begin from October 2021. Consumers will probably be notified of estimated tentative supply dates inside 72 hours of buy. The corporate had, on August 15, unveiled its Ola S1 electrical scooter within the two variants -- S1 and S1 Professional -- at Rs 99,999 and Rs 1,29,999, respectively (ex-showroom together with FAME II subsidy and excluding state subsidies).

Ola Electric had opened pre-launch bookings of its electrical scooters in July for Rs 499 and had acquired 1 lakh orders in simply 24 hours. Nonetheless, the corporate has not disclosed what number of orders it has acquired up to now. Ola is establishing a producing plant, unfold throughout 500 acres, in Tamil Nadu with an funding of Rs 2,400 crore. The corporate had acknowledged that it will initially begin with 10 lakh annual manufacturing capability after which scale it as much as 20 lakh, in keeping with market demand, within the first section. Ola Electric had claimed that its plant - when totally accomplished - would have an annual capability of 1 crore models, "that is 15 percent of the world's entire total two-wheeler production".

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