EV maker Ola Electric on Thursday announced a marginal increase in its product price starting in June. With the revised subsidies coming into effect from this month, the Ola S1 Pro is now priced at ₹1,39,999, S1 (3KWh) at ₹1,29,999, and the S1 Air (3KWh) at ₹1,09,999.
While the subsidies have been reduced significantly, the company said its focus on engineering and innovation has enabled the brand to minimise the price impact, and now the S1 Pro will be retailed at its initial launch price. The company sold over 35,000 units in May, marking over 30 per cent, and has achieved a year-on-year (y-o-y) growth of 300 per cent during the last month.
‘Exponential growth’
“Month after month, our sales have experienced exponential growth and Ola has consistently led the EV revolution in the country”, said Bhavish Aggarwal, Founder and CEO, Ola Electric. “This remarkable feat not only reflects the unwavering customer confidence in our brand, but also signifies the surging desire for technologically advanced EVs in the country,” he added.
Additionally, the company has actively augmented its offline presence through the establishment of experience centres (ECs) throughout the country to accelerate the adoption of electric vehicles in the country.
The company recently launched its 600th EC and has plans to further expand to 1,000 by August. These centres offer customers a wide range of services at one convenient location, with 90 per cent of Ola’s customers residing within 20 kilometres of an Ola Experience Centre.