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    Ola Gen 3 Scooter Price Hike Up To Rs 15K – Introductory Offer Ended In 7 Days

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    Ola S1 Pro+ Gen 3Bengaluru-based electric mobility solutions provider, Ola Electric, has ended the introductory prices offered with their Gen 3 electric scooters. This has resulted in a price hike with their newly launched Gen 3 electric scooters by up to Rs 15,000. Not all the variants get a uniform price hike. Let’s take a look.
    Ola Gen 3 Scooter Price Hike
    Launched on January 31st, Ola S1 Gen 3 scooters were priced starting at Rs 79,999 (Effective Ex-sh). These were introductory prices only and they only lasted for a very short span of just 7 days. Revised prices have been revealed on the company’s website now and the Gen 3 scooters from Ola are now dearer by up to Rs 15,000.
    This 7-day introductory offer is just enough to steer clear of the “misleading advertisement” tag and can be termed as a headline-generating strategy. Offering these introductory prices for longer would have made a meaningful impact on buyers.
    Speaking of the price hike, Ola Electric has not messed with the headline-generating base price of Rs 79,999 (Effective Ex-sh) on S1 X 2 kWh variant. Also, both the top-tier S1 X+ 4 kWh and 5.3 kWh variants have retained their launch prices as well. This leaves Ola S1 X+, higher variants of S1 X and S1 Pro.
    Ola Gen 3 Scooter Price Hike
    Starting with S1 X, the 3 kWh variant has seen an upward price revision of Rs 4,000, while it is Rs 5,000 for the 4 kWh variant. With the new prices, S1 X still starts from Rs 79,999, but now goes till Rs 1,04,999 (both prices Effective Ex-sh). S1 X+ model gets a sole 4 kWh variant and gets a price hike of Rs 4,000 leading to a sticker price of Rs 1,11,999 (Effective Ex-sh).
    The highest price hike of Rs 15,000 has been enforced on Ola S1 Pro model. Especially the 3 kWh variant. The 4 kWh variant, on the other hand, gets a smaller (relatively) price hike of Rs 10,000. The new price for Ola S1 Pro now starts from Rs 1,29,999 and goes till Rs 1,44,999 (both prices Effective Ex-sh).
    Ola Gen-3 Scooters
    What all is new?
    When compared to the older Gen 2 range of electric scooters, Gen 3 gets a lot of improvements. They bring brake-by-wire technology promising 15% more range than Gen, single-channel ABS (advertised as “Dual ABS” with motor braking involved and not rear brakes), mid-mounted motor across the range, single integrated board, Move OS 5, DIY mode to control braking and throttle response, among others.
    Ola S1 Pro+ Gen-3
    The top-spec S1 Pro+ 5.3 kWh variant from Ola Electric packs a massive battery pack populated by the company’s in-house developed 4680 Bharat cells. Maximum range promised is 320 km, peak power is 13 kW (17.43 bhp) and the top speed is 141 km/h. More

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      Ola Roadster X Electric Bike Launch Price Rs 75K – 9.1 kWh Battery, 501km Range

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      Ola Roadster X Electric Bike LaunchExpanding their electric mobility solutions portfolio, Ola Electric just launched the Roadster X range of electric commuter motorcycles in India. The introductory price starts from Rs 74,999, which is applicable only for the next 7 days. Post which prices will increase at company’s discretion. A similar strategy was seen with Ola S1 Gen 3 scooters launched a few days ago.
      Ola Roadster X Electric Bike
      After launching the Gen 3 version of its popular S1 electric scooter range, Ola has expanded their expertise into electric motorcycles. Roadster X and Roadster X+ are the two motorcycles that were launched on the stage today. These are aimed at the country’s popular budget commuter motorcycles from brands like Hero MotorCorp, Honda, TVS and Bajaj.
      Ola Roadster X Electric Bike Launch Price
      Ola has used all the tricks up their sleeves to make Roadster X stand out from other mainstream budget commuter motorcycles. Stand out, they do. Design is a major draw for Roadster X as it looks futuristic and sharp, while its immediate budget commuter rivals look drab and dull.
      Ola Roadster X Design
      We can see an attractive fascia with LED lighting, a 4.3-inch colour LCD instrument cluster and edgy detailing on its bodywork. Front suspension is RSU telescopic forks, while rear suspension is made of twin shock absorbers. A single-piece seat, single-piece grabrail, alloy wheels, saree guard, front disc brake, single-channel ABS, cruise control, reverse mode, brake-by-wire and industry-first flat cable implementation are notable elements.
      Ola Electric Motorcycle Scalable Platform
      Powertrain & Prices
      With Ola Roadster X electric bike, powertrain choices and prices go hand in hand, as the battery is the most prominent cost contributor. Speaking of battery, Ola Roadster X motorcycle is positioned on a new platform that supports modular and scalable battery module and chassis components. Ola Roadster X+ 9.1 kWh variant promises 11 kW (14.75 bhp) of peak power, 125 km/h top speed and a claimed range of 501 km.
      Roadster X+ & Roadster X
      The battery pack is populated by Ola’s new Bharat 4680 cells and can be scalable between 2.5 kWh and 9.1 kWh, yielding multiple choices. The base Roadster X is offered with 2.5 kWh (Rs 89,999), 3.5 kWh (Rs 99,999) and 4.5 kWh (Rs 1,09,999) options, while Roadster X+ gets 4.5 kWh (Rs 1,19,999) and 9.1 kWh (Rs 1,69,999) battery pack (all prices effective Ex-sh, without introductory offer).
      Roadster X+ & Roadster X
      We are not highlighting introductory prices as these are only headline generators and the 1 week offer period is not going to be enough for meaningful impact. Purchases start today and the Rs 15,000 introductory offer is for 1 week only. Interestingly, despite the big announcement, investors seemed unimpressed as the stock dipped towards market close. Ola Electric closed in the red, down 1.58% at Rs 73.67.

      Ola Electric launched its new electric motorcycles today, but its stock closed in the red, down 1.58% at ?73.67.
      Despite the big announcement, investors seemed unimpressed as the stock dipped towards market close. pic.twitter.com/i7GEewrY7f
      — RushLane (@rushlane) February 5, 2025 More

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      Ola S1 Pro+ 5.3 kWh vs Top-Spec Rivals – Ather, Chetak, iQube, Hero Vida

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      Ola S1 Pro+ 5.3 kWh Battery Flagship VariantThe electric scooter landscape is changing rapidly in India. Once a dominating force, Ola Electric has consistently lost market share across the CY24, while Bajaj and TVS made quick success. However, Ola has returned with a vengeance with their Gen 3 electric scooters. The top-spec S1 Pro+ 5.3 kWh made quite a spectacle and putting it against rival top-spec variants sheds interesting results. Let’s take a look.
      Ola S1 Pro+ 5.3 kWh vs Top-Spec Rivals
      With the Gen 3 products, Ola has carved out a new top-spec variant called S1 Pro+ and it comes equipped with their in-house developed Bharat cells in the larger 5.3 kWh battery pack. Yes, Ola now has a 5.3 kWh battery pack and it dwarfs TVS’ 5.1 kWh battery pack and takes the crown of offering the biggest battery option in mainstream Indian electric scooter market.
      We have to start with the pricing. Ola S1 Pro+ 5.3 has been priced at Rs 1.8 lakh (Ex-sh, without subsidies). In Comparison, S1 Pro Gen 2 is priced at Rs 1,24,999, Ather’s 450 Apex costs a whopping Rs 2 lakh, TVS iQube ST 5.1 at Rs 1.85 lakh, Chetak’s new flagship 3501 at Rs 1.27 lakh and lastly, we have Hero Vida V2 Pro at Rs 1.25 lakh (all prices Ex-sh, without subsidies). S1 Pro Gen 2 continues to be on sale at discounted prices.
      Ola S1 Pro+ 5.3 kWh Vs Rivals
      It has to be noted that iQube ST 5.1 and 450 Apex are advertised with Rs 0 subsidies, while others get additional price reductions. S1 Pro+ Gen 3 remains the same as S1 Pro Gen in terms of dimensions and components but gets new elements. For starters, it now gets a chain drive instead of a belt drive and it gets the most powerful 13 kW (17.4 bhp) motor, while rival brands top out at 7 kW (9.4 bhp), which is less than half as powerful.
      Specs & Performance
      With this powerful motor, S1 Pro+ Gen 3 promises a 141 km/h top speed, which even most performant mainstream ICE scooter can’t achieve. 0-40 km/h sprint is pegged at 2.1s, while rival brands are almost a second slower. With the biggest ever 5.3 kWh battery, Ola is promising 320 km of range on a single charge, which is unheard of in electric scooter world and even in mainstream ICE scooter segment.
      Hero Vida V2 Pro is the only one here to offer a removable battery option for convenience. iQube ST 5.1 is the only one with a rear hub motor. None of these scooters offer 14-inch wheel options and top-out at 12 inches. With new Chetak 3501 variant, Bajaj has repositioned batteries on its new chassis, carving out a 35L under-seat storage, which is the largest in this segment.
      Ola S1 Pro+ 5.3 kWh Vs Rivals
      All contestants in the flagship electric scooter space offer a TFT touchscreen with Bluetooth connectivity and other features. Ola and Ather have a separate race in this aspect, stuffing their vehicles with as many features as possible. Bajaj has the smallest 5-inch screen in this comparison, but it still offers Map integration. Only TVS and Hero offer turn-by-turn navigation, which is a cut below the rivals.
      Features & Value
      Within this comparison, we can see that Ola’s past flagships, Chetak and Vida have affordable price tags, which go down further with subsidies. It is Ather 450 Apex which is by far the most expensive, while not offering the best of anything you can quantify on paper. However, Ather is all about experience and they claim to offer premium features and build a community of enthusiasts.
      TVS is also priced at a premium, but it comes from a mainstream 2W manufacturer, which is a novelty in this segment apart from Bajaj Chetak and Hero Vida. Ola S1 Pro+ 5.3, on the other hand, promises best-in-segment range, performance, top speed, features and experience. But the company has caught a bad rep for lack of after-sales services, reliability and quality control. The company is currently experiencing a downward sales trend, which the new Gen 3 products aim to reverse. More

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      Ola Roadster X Electric Bike Teased Ahead Of 5th Feb Launch

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      Ola Roadster XAhead of the 5th February launch, Ola Roadster X electric bike has been teased by the company on its social media handles. At the global premier which happened in August 2024, Ola revealed prices of Roadster X to start from Rs 74,999 (Ex-sh) for 2.5 kWh variant. But actual launch price will be revealed on 5th February.
      Ola Roadster X Electric Bike Teased
      India’s leading electric 2W manufacturer, Ola Electric, recently launched their Gen 3 scooter range with a new top-spec S1 Pro+ model. At the stage, the company also teased the Roadster X, which is set to revolutionise electric motorcycle segment like S1 range has with electric scooter segment.
      Ola Electric Motorcycle Range
      Ola Electric has lost significant market share in India with volumes almost halved by the end of CY24. With the launch of Ola Roadster X, the company might regain lost market and boost volumes significantly. At its global debut, Ola revealed Roadster X in three batter pack options- 2.5 kWh, 3.5 kWh and 4.5 kWh.
      Roadster X is part of a complete lineup of motorcycles. Where Roadster X is positioned at the bottom, Roadster in the middle and Roadster Pro at the top. Launch timelines of Roadster and Roadster X have not been revealed yet.
      Ola Roadster X
      What to expect?
      Sticking to Roadster X, it is advertised to start from a base price of Rs 74,999 for 2.5 kWh battery pack, Rs 84,999 for 3.5 kWh battery pack and Rs 99,999 for 4.5 kWh battery pack. However, the company is not likely to stick to these prices, considering the just launched Ola S1X Gen 3 starts from Rs 79,999 (Ex-sh) for a smaller 2 kWh battery pack.
      At the debut, Ola promised 11 kW of peak power with Roadster X, which turns out to be 14.75 bhp. Top speed is pegged at 124 km/h and Ola promises a 0-40 km/h sprint in 2.8 seconds. There’s no clarity on whether these numbers hold true with the model that is set to launch on 5th February 2025 or the final production-model has changed in specifications.
      Ola Roadster X Features
      What will not change, is the design of Ola Roadster X. Despite being the base model of Roadster lineup, Roadster X carries a similar design language which is futuristic and edgy. It will appeal to young buyers. LED headlights, LED DRL, a 4.3-inch LCD cluster, front disc brake, 18-inch alloy wheels, RSU telescopic front suspension and dual shock absorbers at the rear are notable components. More

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      Ola Gen-3 Scooters Launch Price Rs 80K – 320km Range, 17.4bhp, 141 Km/h Speed

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      Ola Gen-3 Scooters LaunchedIndia’s leading electric scooter manufacturer, Ola Electric, has just taken the veil off its next generation scooters. Sticking to their 18-month period update, Ola has moved on to the Gen-3 platform, which is a significant upgrade over Gen-2, launched around 18 months ago. However, Gen-2 will continue to be on sale, with significantly more affordable prices.
      Ola Gen-3 Launched
      The company’s portfolio now includes Gen-2 and Gen-3 products sold alongside operating from a price point between Rs 69,999 (S1X Gen-2 2 kWh) and Rs 1,69,999 (S1 Pro+ Gen-3 5.3 kWh) (prices effective Ex-sh). Speaking of pricing, the new Gen-3 products have been launched at a starting price of Rs 79,999 (effective Ex-sh).
      Ola Gen-3 Scooters Launch Price
      The company has commenced sales on their website and authorized dealerships starting today. Deliveries will begin mid February, within the next 15 days. As seen in the picture above, Ola S1 Gen-3 range now includes S1X in 2 kWh, 3 kWh and 4 kWh battery options, S1X+ with 4 kWh battery pack options, S1 Pro with 3 kWh and 4kWh options and the new flagship S1 Pro+ with 4 kWh and 5.3 kWh battery options.
      Ola Gen-3 Scooters Colours
      The price of Ola’s new flagship, S1 Pro+ 5.3 kWh is Rs 1,69,999 (effective Ex-sh). It has to be noted that these are introductory prices and are valid for the next 7 days. Post which, prices will increase at Ola Electric’s discretion. There are new colours, new graphics on side body panels, premium grab handle, decals on wheel rim and other new elements with Gen-3.
      Ola Gen-3 Brake-By-Wire
      What’s new with Gen-3?
      With the Gen-3 range of electric scooters, Ola is introducing Brake-By-Wire technology across the board claiming 15% more range than Gen-2. This uses a patented brake sensor that provides more seamless regen braking and combined with single-channel ABS, Ola is promising what they’re calling “Dual ABS”.
      With Gen-3, Ola has gotten rid of the hub motor on its affordable variants and is offering a mid-mounted motor across the range. Yes. Even the base S1X Gen-3 now gets a mid-mounted motor. Also, the drivetrain is now shifted from belt-drive to chain-drive, promising equal refinement when compared to belt-drive.
      Ola Gen-3 Scooters
      There’s a single integrated board to control all the vehicular electronics, increasing the manufacturing efficiency and reducing manufacturing costs by up to 31%. Move OS 5 was announced on the stage with DIY mode where granular control over regen braking and throttle response. Smartwatch App integration has been introduced along with Roadtrip Mode, Bharat Mood and more.
      Ola S1X Gen-3
      Variants Breakdown
      Even with the base S1X Gen-3, Ola is offering a segmented colour LCD display 4.3-inch in size. If you opt for S1X Gen-3 4 kWh battery pack variant, Ola is promising up to 242 km range on a single charge, 7 kW (9.38 bhp) peak power and 123 km/h top speed. With S1X+, top speed is bumped to 125 km/h and the motor now gets a 11 kW peak power (14.75 bhp). S1X+ also gets a front disc brake to sweeten the deal.
      Ola S1X+ Gen-3
      Moving to the S1 Pro Gen-3 4 kWh, performance and equipment are similar to S1X+ with 11 kWh power, 242 km range, 125 km/h top speed. There are more features, though. Pro gets the 7-inch touchscreen, rear disc brakes, single-channel ABS along with all the new and premium design elements. There are more attractive colour options with S1 Pro Gen-3.
      Ola S1 Pro Gen-3
      Now, we get to the new S1 Pro+ Gen-3, which is the new flagship from Ola Electric. S1 Pro+ has been launched for the first time. It gets dual-channel ABS, 13 kW (17.43 bhp) peak power and a 5.3 kWh battery option with Ola’s indigenous 4680 cells. Promised range is 320 km (IDC) on a single charge. Top speed is 141 km/h and a 0-40 sprint comes up in just 2.1 seconds.
      Ola S1 Pro+ Gen-3
      This 5.3 kWh battery pack and 320 km range is the highest are now the highest on any electric scooter in India. 13 kW peak power is the most powerful and top speed of 141 km/h is the fastest of any other mainstream scooter in India (ICE and EV). More

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      Ola Electric Scooter Market Share vs Bajaj, TVS – Declines From 58% to 36% in 2024

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      Ola Electric CY24 Sales Vs TVS iQube & Bajaj ChetakOnce the dominant force in the Indian electric scooter segment, Ola Electric has lost significant market share to rival brands like Bajaj Chetak and TVS Motor. The Bengaluru-based electric mobility provider seems to have had a ‘flew too close to the sun’ moment as the roaring and dominant sales have been dulled down significantly.
      While Ola is still the highest-selling 2W EV manufacturer, it is not the dominant force anymore. Rivals like Bajaj and TVS have come a long way and they are poised to surpass Ola’s figures and take over any time now. Their share price has also hit an all time low of Rs 64.6 on 28th Jan, which comes after the company launched 4,000 physical stores across India. In this post, we will analyse Ola’s sales performance across CY24 and see just how much downfall Ola has had when compared to Bajaj and TVS.
      Ola Electric CY24 Sales Vs TVS iQube & Bajaj Chetak
      Ola Electric CY24 Sales
      If we take CY24 (Jan 2024 to Dec 2024), we can see how Ola has been losing market share with time. Ola kick-started CY24 with a 58.33% share (within this trio) in Q1 2024 which used to be close to three times more than Bajaj and TVS at 19.36% and 22.31%, respectively. By the end of CY2024, that number was reduced to 35.74%, while Bajaj was at 32.74% and TVS at 31.52%. In Q1 2024, Ola sold 1,19,418 units and accounted for 58.33% of sales within this trio. At the same time, Bajaj managed 39,628 units and TVS managed to sell 45,680 units. In Q2 2024, Ola sold 1,07,641 units, losing 11,777 units QoQ and the percentage share dropped to 54.46%. In Q2 2024, we can see that Bajaj and TVS showed QoQ growth and increased their percentage share among this trio.
      This trio managed to clock a total of 4,02,374 units in H1 2024. Breaking the numbers, 2,27,059 units were from Ola, 80,482 from Bajaj and 94,833 from TVS. In Q3 2024, Ola’s sales were reduced to 93,820 units, losing 13,821 units QoQ and accounted for 39.42% of sales within this trio, down from 54.46%.
      Ola Electric has consistently lost market share to Bajaj and TVS in 2024
      Lowest numbers in Dec 2024 for Ola
      At the same time, Bajaj and TVS showed significant growth as they sold 70,387 and 73,774 units respectively. Bajaj registered 29,533 units volume growth QoQ, while it was 24,621 for TVS. Bajaj’s percentage share grew from 20.67% to 29.58%, while TVS’ grew from 24.87% to 31% QoQ.
      The results got a lot more interesting in Q4 2024 as Ola registered its worst-ever sales of CY24 in December 2024 at just 13,771 units. Ola’s sales took a downfall from 93,820 units in Q3 2024 to 84,626 units in Q4 2024, losing 9,194 units in volume QoQ. At the same time, Bajaj and TVS sold 77,524 and 74,635 units respectively, registering positive growth QoQ.
      In H2 2024, Ola, Bajaj and TVS managed to sell 4,74,766 electric scooters, up from 4,02,374 units in H1 2024. However, the impressive heavy lifting is done by Bajaj and TVS, while Ola has registered a massive decline in sales. Breaking the numbers, Ola sold 1,78,446 units, Bajaj 1,47,911 units and 1,48,409 units by TVS in H2 2024.
      The numbers still place Ola at the top spot with 33,792 units monthly average in CY24, while it was 19,033 for Bajaj and 20,270 for TVS. However, that might change in CY25, with Bajaj and TVS likely to take off further in sales, leaving Ola behind, considering its sales pattern. More

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      Ola New Electric Scooter Teased With Removable Battery – Launch Soon

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      Ola New Electric Scooter TeasedTop speed on this particular model might be low, as Ola’s electric 2W CV with removable battery is aimed at last-mile mobility sector
      India’s electric 2W market has been tilted towards eScooters that offer flexibility of being unisex in their approach. However, last-mile mobility sector is also a major market for electric 2W manufacturers. Looking at an opportunity, India’s leading electric 2W vehicle manufacturer, Ola Electric, is coming up with their maiden CV.
      Ola New Electric Scooter
      Earlier this year, patents of Ola’s swappable battery module design patent leaked on the interet, suggesting the company is investing into swappable battery tech. Later on, design patents of Ola’s maiden commercial 2W EV leaked too, showing where that swappable battery could debut. Now, Ola has officially teased their maiden CV and is set to launch soon.
      After conquering the 2W electric PV segment, Ola Electric is making massive advances into 2W electric CVs as well. After a couple of leaked patent designs, the company has teased their first-ever commercial vehicle. From what we can see in these teasers, Ola is aiming at last-mile mobility segment.
      The teasers resonate with what we saw with leaked design patents of this upcoming scooter. Overall appearance is that of a slightly premium commercial vehicle, especially when compared to what is already available in this segment. Design is fairly minimal and gets a utilitarian approach.
      Ola New Electric Scooter Teased
      We can see what looks like a sturdy frame finished in a Red shade. There are protective side guards protruding from this frame. There appears to be a flat floorboard, allowing users to carry payload here. Rider footpegs are simple units seen on either sides. Pillion footpegs seem to be absent as this scooter looks like a single-seater.
      Where a pillion seat should have been, there is a luggage area, used to increase payload carrying capacity. This scooter has minimal bodywork too, to keep costs down. Features like digital instrument cluster, LED headlights are expected.
      Swappable Battery!
      The main takeaway from these teasers is that Ola Electric has confirmed that this upcoming electric 2W CV will have their maiden swappable battery pack. Or, removable battery, if you may. This could allow Ola to offer battery as a rental service (BaaS), thus getting the price point low and competitive. The exact specifications of this battery pack is not yet known.
      Ola New Electric Scooter Teased
      From the looks of it, this upcoming Ola new electric scooter has provision for one swappable battery pack and some storage beside it. There may be a dual-battery variant in the future. There is a hub motor in rear wheel for propulsion and twin shock absorbers for load carrying capacity. Slowly, Ola could implement removable battery tech in their PVs too. More

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      Ola Electric Shares Clarification With The BSE Regarding BOSS Sale Discounts

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      Ola Electric Scooter outside a service outletOla Electric, facing increased regulatory scrutiny over its recent BOSS sale discounts, has clarified its position in a formal response to the Bombay Stock Exchange (BSE)
      Ola Electric share price has seen a massive drop recently, raising concerns regarding its pricing strategy, particularly for the S1 X 2kWh model. From a peak of Rs 157 in August, Ola Electric share price was at Rs 87.46 at the end of trading day on 14th October.
      Ola Electric ‘BOSS’ Discounts
      Following reduced sales and complaints of flawed after sales service, Ola Electric is now resorting to the ‘BOSS’ offer to cash in on festive buying. The S1 X 2kWh model is being presented at Rs 49,999 which is lower than the ex-factory price. This according to ARAI was done without them being informed in advance.
      Ola Electric Scooter At Rs 50k
      ARAI has hence asked Ola Electric to offer more clarity on this significantly reduced pricing. Failure to give any satisfactory reasons, the company could lose the subsidies which are being offered under PM Electric DRIVE Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme, which recently replaced FAME-II. The company also faces strong action in terms of widespread consumer complaints, compounding this issue even further.
      Called BOSS (Biggest Ola Season Sale), the Ola Electric S1 X 2kWh model is being offered at Rs 49,999. This is a Rs 25,000 discount on actual pricing of Rs 75,001. Failure to inform ARAI about this new pricing policy prior to announcing the ‘BOSS’ promotional scheme is what has resulted in this questioning.
      ARAI now seeks clarity on this new price reduction and Ola Electric could face lawsuits if found guilty of violating regulatory guidelines. Ola Electric could also face the risk of losing financial benefits under the new subsidy scheme while Ministry of Heavy Industries (MHI) has also asked ARAI to confirm if Ola Electric is conforming to warranty terms and conditions and maintenance of service centers.
      Ola Electric’s Clarification
      Ola Electric has now provided clarification on the issue following inquiries from the Automotive Research Association of India (ARAI). Ola Electric received an email from ARAI on October 8, 2024, seeking confirmation about whether the S1 X 2kWh was being sold at the discounted price of Rs 49,999. In response, Ola Electric clarified that:
      The company has not permanently changed the price of the S1 X 2kWh model. The reduced price is part of a limited-time festive campaign, offering a general discount of Rs 5,000 to all customers, while a Rs 25,000 discount was applied only to select customers with limited inventory available.
      Supporting documents, including an invoice dated October 6, 2024, and a screenshot from their app, were provided to ARAI as evidence of this selective pricing. Additionally, Ola Electric noted that they had promptly supplied further documentation upon request from ARAI on October 9, 2024. To date, they have not received any further communication from the regulatory body.
      Addressing Stock Price Volatility
      Ola Electric also addressed the recent movement in its share price, clarifying that they are not aware of any undisclosed information that could explain the fluctuation. The company assured that all material events and information required under SEBI’s Listing Obligations and Disclosure Requirements have been duly disclosed to the relevant stock exchanges. Ola emphasized that the media report on the regulatory scrutiny has had no material impact on the company’s overall operations or financial health.
      Ola Electric Fall from Glory – Piling Complaints, Lawsuits, Falling Share Price
      Ola Electric, even as it is currently the top selling electric 2W maker in India, with a 27% market share as of September 2024 ended the month in the red. The company reported a 10.31% MoM de-growth. Sales fell to 24,679 units in the past month with competitors Bajaj, TVS and Ather all witnessing increased demand.
      Sales of Ola Electric have been fast dwindling as consumer issues mount. A series of complaints pour in with regard to deliveries substandard performance, service delays, documentation and mileage issues etc., with the National Consumer Helpline portal receiving nearly 10,000+ complaints to date. The complaints which pile in have even termed Ola service centers as ‘graveyards of electric scooters’ on social media. CCPA has also sought a response from Ola Electric within 15 days.
      Following these concerns and falling of share price to Rs 87.34, down 44.48% from a record high of Rs 157.53, on August 20, 2024, Ola Electric has promised stringent measures. Among these remedial measures are expansion of service networks by the end of this calendar year. AI relation maintenance program with Move OS 5 and augmented training to service personnel along with Hyper Service facilities and 1 day fix are also some of these measures being adopted. More