Ola Electric Cuts Rs. 25,000 of Electric Scooters to Boost Adoption

Following Tata Motors’ recent reduction in the prices of its Battery Electric Vehicles (BEVs), Ola Electric, based in Bangalore, has also reduced the prices of its battery-powered scooters by up to Rs 25,000 for February.

The company stated that it was able to lower prices due to efficient cost structures, in-house technology, manufacturing capabilities, and eligibility for manufacturing incentives.

Starting from February 16, the S1 Pro, S1 Air, and S1 X+ models are now available at Rs 129,999, Rs 104,999, and Rs 84,999 respectively until the end of this month.

Ola Electric, which is preparing for its IPO, recently obtained certification for its second product under the Production-Linked Incentive (PLI) scheme for the automobile and auto component industry.

This certification means that the Ola S1 Pro and Ola S1 Air models are now eligible for subsidies under the government’s Auto PLI scheme for five years.

Ola Electric expressed its commitment to promoting EV adoption across the country and making EVs more affordable and accessible. The company aims to challenge traditional petrol scooters by offering prices comparable to leading ICE (Internal Combustion Engine) scooters.

Bhavish Aggarwal, the chairman and managing director of Ola Electric, announced the special discount on social media platform X (formerly Twitter). The discount, effective from February 16 until the end of the month, is a gesture towards making EVs more accessible to customers. Aggarwal emphasized the company’s dedication to breaking barriers and transitioning away from ICE vehicles.

Previously, in January, Ola Electric had introduced a similar scheme offering a 50 percent discount on extended warranty and up to Rs 2,000 exchange bonus on the S1 Air and S1 Pro models.

Other EV manufacturers view Ola Electric’s decision to pass on benefits to consumers as a strategic move to promote electric mobility in the Indian market.

Ola Electric’s price reduction for its electric scooters aims to make EVs more affordable and accessible, aligning with the company’s mission to accelerate the transition away from ICE vehicles.

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