Ola Electric Suffers Big jolt, Market Share declines to 24 Percent, TVS Motor

Ola Electric, one of the big electric two-wheeler companies, saw its sales decline by about 33 percent in November. According to vehicle portal data, the registrations of the company’s electric scooters last month were 27,746 units. This is a decline of about 33 percent in the sales of Ola Electric on a month-on-month basis.

There was a surge in the company’s sales due to the festive season in October. Last month, Ola Electric’s market share declined to 24 percent. This figure was more than 30 percent in October. However, the company’s first position in this segment remains intact. TVS Motor has the second position in this market with about 23 percent share. However, its sales have also declined by about 13 percent on month-on-month basis. Total registrations of electric two-wheelers in November declined by more than 18 percent month-on-month to around 1.14 lakh units. However, on a year-on-year basis these registrations have increased by more than 23 percent.

Ola Electric has expanded the range of its S1 electric scooters. Last month the company launched S1 Z. This electric scooter will be available in two variants. Its starting price is Rs 59,999 (ex-showroom). Its delivery will be started next year. It has electric scooters like S1 Pro, S1 Air and S1X. Ola Electric has also introduced its first commercial electric scooter Ola Gig. The S1 Z has two battery packs of 1.5 kWh each. However, it can run using one of these battery packs. The range of its single battery pack is about 75 kilometers.

With both battery packs of S1 Z, the range can increase to about 146 kilometers. It is included among the most affordable electric scooters. The price of its S1 Z+ variant is Rs 64,999 (ex-showroom). The S1 Z features a hub-mounted motor that delivers a maximum power output of 3 kW. It can reach a maximum speed of 70 kilometers per hour. Recently the company had said that it will soon start manufacturing electric motorcycles. Its electric motorcycle Roadster will be delivered from early next year.