Bhavish Aggarwal, co-founder of Ola Electric, stated on Thursday that the company sold scooters valued far beyond Rs 600 crore on the first day of sales for its model S1. The CEO stated that the purchasing process will be finished by Thursday at midnight. Ola Electric has begun selling its electric scooters, which are available in two models: the Ola S1 and the S1.
“India is committing to EVs while rejecting gasoline! At our height, we sold 4 scooters every second and sold scooter worth over 600 crores in a single day! In a blog post, Aggarwal stated that after the purchasing process began, people responded by reserving Ola scooters in “record numbers.” Aggarwal noted that the business had sold scooters worth over Rs 600 crore in 24 hours, saying, “That’s more in value terms than what the whole 2W sector sells in a day!”
“This reaction has beyond our expectations, and given our manufacturing plans over the next few months, today will be the final day for people to acquire their Ola S1 and S1 Pro scooters which are amazing. Those who’ve registered can buy until midnight today when the shopping window closes,” he added. Aggarwal emphasised that India has a large domestic market and enormous pent-up demand for two-wheeler EVs.
“We must utilise this to promote innovation, build a strong local EV ecosystem, and transform India into not only a large EV market but also a worldwide EV manufacturing hub,” he said. Currently, the e-scooter can only be purchased through the Ola App and not through the website. Deliveries will begin in October 2021. Within 72 hours after purchase, buyers will be advised of anticipated preliminary delivery dates.
On August 15, the company launched the Ola S1 electric scooter, which comes in two models: S1 and S1 Pro, with prices starting at Rs 99,999 and Rs 1,29,999, respectively. In July, Ola Electric announced pre-launch bookings for their electric scooters for Rs 499, and company received 1 lakh bookings in less than 24 hours. However, the company has not stated how many orders it has received thus far. Ola is investing Rs 2,400 crore to build a 500-acre manufacturing complex in Tamil Nadu. Once finished, the plant would have an annual capacity of one crore units, or 15% of the world’s total two-wheeler output, according to Ola Electric.