Ola Electric reports its best ever sales in March 2023

Ola Electric ended the fiscal year 2022–23 on a high note, becoming the nation’s top seller of electric vehicles. It is also the one that the electric two-wheeler market has seen the fastest growth in. With a capacity to produce 10 million electric two-wheelers annually, Ola is India’s largest two-wheeler manufacturer.

With more than 27,000 units sold, March marked Ola’s highest sales month. Since September 2022, the company has been outpacing competitors in monthly sales. More than 30% of the market is controlled by Ola. Given the numerous brands that compete for customers’ attention in the electric two-wheeler market, it’s a noteworthy accomplishment.

Ola has promoted the idea of ending the ICE-age, which at times might seem a bit ambitious. The end of the ICE-age, however, might arrive sooner than anticipated given the company’s rate of expansion. Other electric two-wheeler manufacturers, besides Ola Electric, have experienced significant growth over the course of FY 2022–2023 as well. Major automakers like Honda intend to introduce a number of new EVs in the upcoming years. Such developments will encourage a greater uptake of electric motorcycles and scooters.

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Ola Electric did experience some pain while growing its business

Ola Electric
credit: rushlane

Since the launch, a lot of problems have been reported, but Ola is working to fix them. The presence of cost-effective options may be a major factor in Ola Electric’s recent rapid growth. For instance, the Ola S1 Air with a 2kWh battery and an 85 km range starts at Rs 84,999. This pricing is very similar to that of other well-known OEMs, like Hero Electric. Additionally, Ola Electric’s entry-level models likely have the best features in their class.

Ola’s emphasis on establishing experience centres across the nation may be another factor in the company’s growth. Recently, the business opened up to 50 experience centres in a single day. At the moment, Ola Electric operates more than 400 experience centres nationwide. These experience centres offer a wide range of services to users. 90% of Ola users, according to data held by the company, are situated within 20 km of an Ola experience centre.

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