Ola Electric Smashes Records with Over 53,000 Registrations in March, Reports 115% Year-on-Year Growth
New Delhi: India’s electric vehicle (EV) market leader Ola Electric has achieved a significant milestone by registering over 53,000 registrations in March, its highest monthly volume for the fifth consecutive month. The company’s stellar performance extends to its financial year 2023-24 (FY24), where it witnessed a remarkable 115% year-on-year growth, with 328,785 units registered compared to 152,741 units in FY23.
Anshul Khandelwal, Chief Marketing Officer, Ola Electric, expressed pride in the company’s achievements and emphasized its position as the market leader in both volumes and market share throughout the financial year. The surge in registrations underlines the strong demand for Ola Electric’s scooter portfolio, with around 1.20 lakh registrations in Q4 FY24 alone.
To further accelerate EV adoption, Ola Electric has launched several initiatives including new products, enhanced services and extended warranty offerings. S1 Additionally, Ola Electric introduced an extended battery warranty of 8 years/80,000 km at no extra cost, addressing a major concern of potential buyers.
Customers can now opt for an add-on warranty to increase the upper limit of kilometres travelled up to 125,000 kilometres to extend the life of their vehicles. Additionally, Ola Electric unveiled a portable fast charger accessory and inaugurated its 450th service centre in Prayagraj, strengthening its commitment to provide comprehensive support infrastructure across the country.
As Ola Electric continues to push boundaries and innovate, it remains at the forefront of driving India’s electrification journey. Investors and consumers alike are closely watching the trajectory of Ola Electric, especially in light of its proposed initial public offering (IPO) of its equity shares, which is subject to regulatory approvals and market conditions.
Ola Electric’s remarkable growth and strategic initiatives underline its important role in shaping the future of sustainable mobility in India.
