Ola Electric reduces prices of its S1 Portfolio by up to INR 25,000

 

Mumbai: In its biggest push yet to accelerate India’s electrification efforts and break all barriers to EV adoption, “Ola Electric”, India’s largest electric vehicle company, has reduced the prices across its S1 scooter portfolio by up to INR 25,000. The company has announced this move on the back of a robust cost structure coupled with strong vertically integrated in-house technology and manufacturing capabilities, and eligibility to manufacturing incentives.

With a robust, aggressively priced product portfolio, the ‘Ola S1’ scooters outperforms any traditional ICE vehicles, making it the superior choice in the scooter market with savings of up-to INR 30,000/year. These prices are valid only for February.

Ola spokesperson, Ola Electric said, “At Ola, we are committed to #EndICEAge by breaking all barriers to EV adoption and making EVs more affordable and accessible. Aligned with our mission to push EV adoption across the country, we are introducing unprecedented prices across our S1 portfolio. On the back of a strong vertically integrated in-house technology and manufacturing capabilities, we have been able to restructure costs and decided to pass on the benefits to customers. Priced equivalently to leading ICE scooters, we are confident that customers will now have no reason to buy an ICE scooter.”

Recently, Ola Electric was awarded as the first Indian 2W company to receive a Domestic Value Addition (DVA) certificate under the Production Linked Incentive (PLI) Scheme for the automobile and auto component industry. The PLI certification is a testament to companies' vertically integrated manufacturing capabilities, robust localized supply chain ecosystem, and govt. subsidies have helped the company restructure costs and hence reduce prices of scooters across the S1 portfolio making them more affordable and accessible.