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Ola Electric Embraces Sales of its E-Scooters Shoot UP Over Rs.1,100 Crore

CIO Insider Team | Friday, 17 September, 2021
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Ola Electric’s new electric two-wheeler embraces sales worth over Rs.1,100 crores in just two days for the Ola S1 and S1 Pro scooters.

The ride-hailing platform said that this was unprecedented for not the automobile industry alone, but raised as one of the highest sales in a day for a single product that has been sold in India’s e-commerce industry.

In fact, the electric scooters hit the highest sales on the final day, and these scooter cost about Rs.600 crore that were sold like hot cakes within a day.

The purchase is now closed, however, people can still place their orders for the vehicles on the ride-hailing company’s website olaelectric.com.

Commenting on the situation, an excited Bhavish Aggarwal, CEO and Chairman, Ola wrote that, “while day 1 of purchase was quite unique for us and the car industry, day 2 just resumed where day 1 left off. Throughout, our clients' excitement and enthusiasm for our products remained high”.

“I want to let everyone know that the purchase window will reopen on November 1, 2021, just in time for Diwali,” adds Aggarwal. Those who had already reserved but did not purchase during the last window, which closed yesterday, will be allowed to do so on November 1”.

Furthermore, the purchase process for its electric two-wheeler is said to take place fully digital, particularly for those who acquire it early. In fact, the ride-sharing platform not only delivers its electric two-wheeler to the customer's door, but also handles the vehicle's maintenance in the same manner. That's correct, Ola is following in the footsteps of home essentials, foodtech, and other e-commerce platforms by offering vehicle service directly at the doorstep, but this is a departure from how vehicle servicing has traditionally been done in India.

Although, based on its purchasing method, the buyer may have already selected the preferred option throughout the booking process. Ola, on the other hand, allows for colour and variant changes if another consumer has second thoughts about their purchase. Currently, the consumer can choose from ten different colours, as well as two different finishes. With that in mind, here are a few tidbits about Ola's new electric two-wheeler.

Ola Electric unveiled its first e-scooter options, the S1 and S1 Pro, for a commercial launch last month, with prices starting at Rs 99,999. (excluding state government incentives, registration fee, and insurance cost). According to Aggarwal, the e-scooters were created and engineered in India for the global market and will provide consumers with the greatest scooter experience possible.

Ola is now competing directly with electric two-wheeler manufacturers including Ather Energy, Hero Electric, Bajaj, and TVS Motor Company.

“I want to let everyone know that the purchase window will reopen on November 1, 2021, just in time for Diwali,” adds Aggarwal. Those who had already reserved but did not purchase during the last window, which closed yesterday, will be allowed to do so on November 1”.



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