Indian electric vehicle (EV) company, Ola Electric, has breached the 20,000 mark once again in the month of November. In October, the EV unicorn company had announced it had breached the 20,000 units mark while reporting the sales of its S1 series of e-scooters.
With this, Ola became the largest EV seller in India according to the Vahaan portal followed by Okinawa scooters which manufactures roughly about 17,000 scooters.
Commenting on this development, Bhavish Aggarwal, Founder and CEO of Ola, said, “The End of ICE Age is now a reality. The complete dominance of EVs in the premium scooter segment shows that the only reason why customers still consider an ICE vehicle today is due to the lack of world class EV alternatives. We will continue to build and expand aggressively with products across multiple segments and price-points and lead the transition of the Indian 2W industry to 100 per cent EVs by 2025!”
These EV scooters are manufactured in the company’s factory in Krishnagiri, Tamil Nadu. The production of e-scooters started last year in November and so far, the company rolled out three categories in the S1 series including Ola S1 Air, Ola S1 Pro and Ola S1. The company is also set to launch another category of e-scooters called MoveOS 3 this month. The company also opened 14 new experience centres across 11 cities this calendar year.
India’s electric vehicle (EV) market is expected to grow at a compounded annual growth rate (CAGR) of 90 per cent in this decade to touch $150 billion by 2030, according to a report by consulting firm RBSA Advisors.
The report further stated that India’s shift to shared, electric and connected mobility could help the country save nearly one giga-tonne of carbon dioxide emissions by 2030. Other two-wheeler players operating in the same market include TVS iQube, Bajaj Chetak, Ather 450X, and Hero Motocorp’s recently-launched VIDA V1 series.
