Ola Electric slashes S1 scooter prices by up to Rs 25,000 for March

Business MInutes

Ola Electric has announced the price reduction of up to INR 25,000 on its S1 scooter portfolio for the month of March. The announcement is aimed at continuing the company’s biggest push yet to accelerate India’s electrification efforts and breaking all barriers to EV adoption.

The price reduction came on the back of the company’s robust cost structure coupled with strong vertically integrated in-house technology and manufacturing capabilities, and eligibility to manufacturing incentives.

The prices remain the same for the month of March:

Variant Current Price

S1 Pro INR 1,29,999

S1 Air INR 104,999

S1 X (4kWh) INR 109,999

S1 X+ (3kWh) INR 84,999

S1 X (3kWh) INR 89,999

S1 X (2kWh) INR 79,999 

Now is the best time to buy Ola S1 as the FAME (Faster Adoption & Manufacturing of Electric Vehicles) scheme is likely to end on 31st March 2024 and there maybe changes in the prices of EVs.

With a robust, aggressively priced product portfolio, the Ola S1 scooters outperform any traditional ICE vehicles, making it the superior choice in the scooter market with savings of up to INR 30,000/year. 

Recently, Ola Electric became the first Indian 2W company to receive Domestic Value Addition (DVA) certificate under Production Linked Incentive (PLI) Scheme for automobile and auto component industry. The PLI certification is a testament to the company's vertically integrated manufacturing capabilities, which coupled with its robust localised supply chain ecosystem and government subsidies have helped the company restructure costs. 

Ola Electric has recently announced a series of initiatives spanning across products, service, charging network and battery warranty in an effort to break all barriers in the adoption of EVs. With the launch of S1 X (4kWh), Ola Electric expanded its portfolio to six best-in-class products, ranging across different price points and catering to customers with different range requirements.

The company also launched the industry-first 8 year/80,000 km extended battery warranty for the entire range of products at no extra cost, a move that addresses the biggest barrier for EV adoption by extending the lifespan of the vehicles by 2X of ICE vehicles. Additionally, Ola Electric also unveiled the plans to expand its service network by 50% from the current 414 service centres to ~600 centres across the country by April 2024.


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