Ola Electric Slashes S1 Portfolio Prices, Propels Mass Electrification Drive to #EndICEAge
New Delhi: In a monumental stride towards accelerating India’s electrification efforts and championing the transition to electric vehicles (EVs), Ola Electric, the nation’s foremost electric vehicle company, has announced substantial price reductions across its esteemed S1 scooter portfolio. With discounts of up to INR 25,000, this move underscores Ola Electric’s unwavering commitment to #EndICEAge and make EVs more accessible to the masses.
The decision to revise prices stems from Ola Electric’s robust cost structures, fortified by vertically integrated in-house technology and manufacturing capabilities. Leveraging these strengths, along with eligibility for manufacturing incentives like the Production Linked Incentive (PLI) scheme, the company aims to pass on tangible benefits directly to its customers.
Effective February 16th, 2024, the revised pricing of the S1 portfolio is set to democratize EV ownership across various consumer segments. Notably, the S1 scooters offer unparalleled performance and cost-effectiveness, surpassing traditional internal combustion engine (ICE) vehicles. Customers stand to save up to INR 30,000 per year, making the switch to electric not just environmentally responsible, but also economically prudent.
Commenting on the price reduction, a spokesperson for Ola Electric reiterated the company’s dedication to breaking down barriers hindering EV adoption. By aligning pricing with leading ICE scooters, Ola Electric aims to dispel any lingering doubts consumers may have about choosing electric over conventional vehicles.
Ola Electric’s recent accolade as the first Indian 2W company to receive the Domestic Value Addition (DVA) certificate under the PLI Scheme underscores its commitment to localized manufacturing and cost optimization. This recognition, coupled with government subsidies, has facilitated significant price reductions across the S1 portfolio, enhancing affordability and accessibility for consumers nationwide.
Beyond price adjustments, Ola Electric has embarked on a multifaceted approach to bolster EV adoption. Initiatives such as the introduction of the S1 X (4kWh) variant, industry-leading 8-year/80,000 km extended battery warranty, and plans to expand the service network by 50% underscore the company’s comprehensive strategy to overcome barriers in the EV ecosystem.
As Ola Electric paves the way for a sustainable future, its relentless pursuit of innovation and affordability sets a precedent for the entire automotive industry. With the S1 portfolio now more enticing than ever, Ola Electric is poised to drive the electrification revolution and lead India towards a cleaner, greener tomorrow.
