ola electric scooter, ola scooter

Ola Electric Scooter: How Ola Scooter Earned ₹ 1,100 Crores in Just 2 Days?

When the firm said on Friday that it had sold more than Rs 1,100 crore in Ola electric scooters in just two days, it referred to the sale of Ola electric scooter S1 and S1 Pro scooters, which are part of the ride-hailing company’s electric vehicle division (EVD).

The SoftBank-backed firm claimed that this was a first in the car sector and the history of Indian e-commerce, as it represented one of the largest single-day gross sales (measured in dollars) for a single product.

The Tweet Made by Ola Electric Scooter

EV Day 2 was much greater than the first day of the EV era. Ola has crossed Rs 1,100 crore in revenues in only two days, according to a tweet from Bhavesh Aggarwal, co-chairman and global chief government officer of Ola.

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Ola had said in December 2020 that it would spend Rs 2,400 crore in the organization of section 1 of the manufacturing plant, which would be completed by 2021.

The Ola Future Factory is being built on a 500-acre plot of land in the Indian state of Tamil Nadu. It has the potential to become the world’s biggest two-wheeler manufacturing plant, capable of producing up to 10 million vehicles per year, or 15 percent of the world’s total production capacity.

Ola: The Ola electric scooter Manufacturer

As a result, Ola is now directly competing with businesses such as Ather Energy, Hero Electric, Bajaj, and TVS Motor Company when it comes to electric two-wheeler makers in India. At a time when the adoption of electric cars (EVs) is gaining pace in India, the recent developments at Ola electric scooter are particularly noteworthy.

More EVs were sold in the first seven months of this year than were sold in the whole year 2020 combined.

Statistics of Sales of Ola electric scooter

The government’s Vaahan platform reported that makers of electric vehicles (EVs) sold 121,170 units across all categories between January and July, an increase over the 119,647 units sold during the whole previous calendar year.

According to JMK Research, the total number of registered electric vehicle gross sales in July 2021 increased by 134.8 percent over the previous month, totaling 26,127 units, marking the highest number of registrations in a single month in the year 2021.

This increase was prompted by an increase in E2W (electric two-wheeler) registrations after the FAME-II announcement issued earlier this month, which increased the incentives for EVs while also lowering their prices.

Ola electric scooters and its Launch

Ola Electric launched its first two Ola electric scooter models, the S1 and S1 Pro, as part of a commercial launch earlier this month. Prices for the S1 and S1 Pro start at Rs 99,999, which excludes state government incentives, registration costs, and insurance coverage fees, among other things.

He has previously said that the e-scooters were designed and produced in India for the global market and that they will offer the best scooter experience possible to customers who use them.

The First Day

“While the first day of purchase was unique for both us and the auto industry, day two simply carried on from where day one left off,” said Aggarwal in a blog post. “The level of excitement and passion that the consumers have shown for the goods remained high throughout the process.”

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Aggarwal went on to say that “I wanted to let everyone know that we will be reopening the purchasing window on November 1, 2021, just in time for Diwali, as I stated in my previous post.” Those who have previously booked but did not buy within the window that closed yesterday will be able to purchase on November 1 as well.

Ola Electric, which had to postpone e-scooter sales due to a website problem last week, began selling the Ola S1 and Ola S1 Pro on Wednesday after a website malfunction forced them to do so. The automobiles are only available via the Ola app, and the whole process is conducted digitally.

The JMK Research Report

Uttar Pradesh continues to have the greatest month-to-month registered EV gross sales among all of India’s states and union territories, according to JMK Research.

In July 2021, Uttar Pradesh’s registered EV gross sales accounted for 17 percent of total gross sales in India. Having a 15 percent share of total gross sales, Karnataka is the second most important state in the nation, behind Tamil Nadu (12 percent) and Maharashtra (10 percent).

The purchase of the Ola S1 and S1 Pro electric scooters, which were the first in Ola’s new line of electric scooters, ended on Thursday, the second and last day for the sale of the vehicles. A total of more than Rs 600 crore in motorbikes had been given by the business in less than 24 hours.

Sales

According to JMK Research, total high-speed electrical two-wheeler (HS-E2W) sales in the country reached 13,345 units in July 2021, representing a 229 percent increase month-over-month over the previous month’s sales and an 835.83 percent increase year-over-year over the previous year’s registrations.

Established players (Hero Electric, Okinawa, Ather) continue to dominate the HS market with a 69% share of gross sales in July and August, but various newcomers to the market such as PurEV (9.8%), Bajaj (5.34%), and TVS (4.8%) also contributed significantly to the total in July and August of this year.

According to a recent independent analysis published by the CEEW Centre for Energy Finance, depending on whether India meets its 2030 EV targets, the country’s electrical vehicle sector may be worth almost $206 billion within the next decade (CEEW-CEF).

The research also estimates that between now and 2030, the nation would need a total of more than $180 billion in investment in car manufacturing and charging infrastructure to accomplish its EV objectives.

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