Ola Electric announced it had surpassed 53,000 registrations in March 2024, marking its highest monthly volume for the fifth consecutive month, according to the VAHAN portal.
What to know: The company witnessed year-over-year growth of 115% in FY24, with 328,785 units registered, up from 152,741 units in FY23. In March, Ola Electric not only maintained but also increased its market share by 42% quarter-over-quarter, with 119,310 units registered in Q4 FY24 compared to 84,133 units in the previous quarter.
Anshul Khandelwal, Chief Marketing Officer at Ola Electric Technologies Private Limited, expressed enthusiasm about the company’s performance, stating, “Ending FY24 on a high note with over 53,000 registrations in March was exceptional.
This past year has been significant for both Ola Electric and the EV industry, with our leadership position solidified through consistent growth in volume and market share. Achieving nearly 1.20 lakh registrations in Q4 FY24 alone highlights the strength of our scooter portfolio, and we are committed to continuing our growth and supporting India’s electrification journey.”
Ola Electric has also rolled out several initiatives aimed at eliminating barriers to electric vehicle (EV) adoption. With the introduction of the S1 X (4kWh), Ola Electric expanded its product range to six models, including the S1 Pro, S1 Air, S1 X+, S1 X – 2 kWh, and 3kWh, offering various price points and range options to meet diverse customer needs, the company revealed in a media release.
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