Ola Electric Earns Rs 1100 Crores In Sales In Merely Two Days

With a dream to accelerate electric mobility for the future, Ola recently launched an electric scooter and was able to earn Rs 1100 crores in sale in just two days. Ola scooter is available in two variants, S1 and S1 pro which has received an amazing response from its customers so far.

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Ola commenced the sale of its electric two-wheeler on September 15, and has managed to hit the sales chart. Ola within two days was able to reach a sales level of Rs 1,100 crores. 

Chief Executive Officer, Bhavish Aggarwal on the launch of its electric scooters commented, This is unprecedented not just in the automotive industry but it is one of the highest sales in a day for a single product in the Indian e-Commerce history! We truly are living in a digital India.

He further said that Ola was able to achieve a target of Rs 600 crores in the first 24 hours which is more than the entire two-wheeler market sells in a day.

Aggarwal made another statement stating, It also established that with the right product, India has huge pent up demand and a massive domestic market for two-wheeler EVs. Ola must leverage this to drive innovation, a robust local EV ecosystem and make India not only a big EV market but also a global EV manufacturing hub.

Ola will now reopen its sale window in the month of festive season. The electric scooter can be booked at just Rs 499 from the Ola Electric website. The ones who had already pre-booked the scooters and did not get it then will now be able to get it from November 1.

The entry-level model, S1 is priced at Rs 99,999 and the top-of-the line scooter is priced at Rs 1,29,999. Due to some technical glitches, the sale was supposed to commence from September 8 but got postponed to September 15.

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Taking a look at the future plans of Ola Electric, it is building a 500-acre facility in Krishnagiri, Tamil Nadu, intending to produce 10 million scooters per year when the company gets fully operated.

Ola will become the worlds largest two-wheeler factory and had received $100 million in long-term debt from Bank Of Baroda in July to fulfil the first phase of its industrial construction.