Ola Electric Reduces Prices Of Entry-level E-scooter By Up To Rs 10,000

Ola Electric has made a significant move in the Indian electric scooter market by reducing the prices of its entry-level S1 X scooter across its three variants. The company announced the price cuts on Monday, making its electric scooters more competitive with traditional petrol-powered scooters in terms of price. The S1 X was initially launched in February 2024, with a price range of Rs 79,999 to Rs 1,09,999 across three variants.

Price Reductions Across Variants

The new prices for the S1 X variants are as follows:

S1 X with 4 kWh Battery: Now priced at Rs 99,999, down from Rs 1,09,999.
S1 X with 3 kWh Battery: Now priced at Rs 84,999, down from Rs 89,999.
S1 X with 2 kWh Battery: Now priced at Rs 69,999, down from Rs 79,999.

These price reductions reflect a drop of Rs 5,000 to Rs 10,000 across the three variants. The changes are effective immediately, and deliveries of the scooters are expected to begin next week.

Ola Electric’s Strategy and Vision

Ola Electric Chief Marketing Officer Anshul Khandelwal highlighted the company’s strategy to make electric scooters more affordable and accessible to Indian consumers. He emphasized that the average price of a scooter in India is around Rs 1 lakh, and the feedback from consumers indicated that they would consider electric scooters more seriously if they were priced similarly to petrol scooters.

“We feel that India needs much more. India needs a price at which they (consumers) can truly adopt EVs,” Khandelwal said during his virtual address. He added that Ola Electric aims to provide customers with everything and more than a traditional petrol scooter offers.

Competition and Market Trends

Ola Electric’s decision to reduce prices comes shortly after its competitor, Ather Energy, launched its family electric scooter ‘Rizta’ in a price range of Rs 1,09,999 to Rs 1,44,999 (ex-showroom Bengaluru). This price reduction could intensify competition in the electric scooter market and spur further adoption of electric vehicles (EVs).

The S1 X range marks Ola Electric’s entry into the mass market segment, and it comes with an 8-year/80,000 km complimentary battery warranty. The electric scooter offers an IDC-certified range of 190 km, 143 km, and 95 km in the 4 kWh, 3 kWh, and 2 kWh variants, respectively. The top speed ranges from 85 km/h to 90 km/h depending on the variant.

The Future of Electric Scooters in India

Khandelwal also spoke about the growing adoption of electric scooters in India, stating that as of March 31, 2024, the adoption rate of electric scooters stood at 25% in the overall electric two-wheeler market. He believes the future is “truly electric,” emphasizing the importance of accessible pricing for consumers to embrace EVs.

Ola Electric’s latest price reductions are likely to encourage more consumers to consider electric scooters as a viable and cost-effective alternative to traditional petrol-powered scooters. This move aligns with India’s growing interest in sustainable transportation solutions and could pave the way for further innovations and price adjustments in the EV market.