IPO-oriented Three models in Ola Electric’s S1 scooter lineup will see price reductions of up to Rs 25,000. The discounted rates are only available in February.
The electric car manufacturer credited its ability to manufacture, qualify for manufacturing incentives, and have a solid, internally integrated vertically integrated technology for this decision.
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We have opted to transfer the gains to our customers by restructuring expenses, owing to our robust in-house manufacturing and vertically integrated technologies. We are certain that buyers won’t have any incentive to purchase an ICE scooter now that our products are priced similarly to top-tier ICE scooters.”
The Ola S1 scooters, according to the company, perform better than any conventional internal combustion engine (ICE) vehicle. This, it stated, offers savings of up to Rs 30,000 a year, making them a better option in the scooter market.
Ola: Price and other details
The price decrease of Rs 25,000 has brought the S1 X+ model down to Rs 84,999. In a similar vein, S1 Pro’s pricing has dropped to Rs 1,29,999 from Rs 1,47,499 and S1 Air’s price to Rs 1,04,999 from Rs 1,19,999.
Not all companies are cutting their pricing like Ola Electric. In an effort to get more customers in the cutthroat industry, rival company Ather Energy lowered the price of its entry-level model, the 450S, in January. With a starting price of Rs 1.09 lakh in Bengaluru and Rs 97,500 in Delhi, the company had previously announced a Rs 20,000 price reduction on its 450S model.
Okaya EV just revealed price reductions for all of its electric scooters. Up to Rs 18,000 in discounts are available, and the deal is good through February 29. Okaya’s lineup of electric scooters now includes the Freedum, which retails for Rs 74,899.
August of the previous year saw Bajaj lower the cost of its electric scooter, the Chetak. The cost of Base Chetak was Rs 1.22 lakh. The cost of the premium version was Rs 1.52 lakh. Discounts were available on the base variant, and the premium variant’s price was lowered by Rs 22,000 to Rs 1.3 lakh.
Days after MG Motor lowered the price of its Comet electric hatchback, Tata Motors recently announced price reductions for the Tiago and Nexon electric vehicles.
Under the production-linked incentive (PLI) program for the automotive and auto component industries, Ola Electric recently became the first two-wheeler manufacturer in India to acquire a domestic value addition (DVA) certificate. Booking a 13% subsidy on the sales value is the goal.
Recent announcements from Ola Electric include a number of projects involving charging networks, goods, services, and battery warranties. It increased the number of products in its portfolio to six with the introduction of S1 X (4kWh), to accommodate customers with varying range needs.
Additionally, the company offered a free 8-year/80,000-kilometer extended battery guarantee for its whole product line. This was a first for the industry.