Ola Electric cuts prices of scooters to compete with ICE two-wheelers

Ola Electric cuts prices of scooters to compete with ICE two-wheelers
The Ola S1 ProSourabh Jain
  • Ola Electric has announced a temporary price cut for its electric scooters in India.
  • The Ola S1 X+, the company’s affordable offering is now available at ₹84,999, ex-showroom.
  • Ola Electric is the latest EV maker to announce a price cut, after Ather Energy, Tata Motors and MG Motors among others.
Ola Electric has become the latest EV maker to announce a price cut for its electric vehicles. The Bhavish Aggarwal-led company has announced a temporary price cut of up to ₹25,000 for its electric scooters.

Ola Electric has said that this is a temporary price cut that is applicable till the end of February. This comes over a month after Ather Energy announced a permanent price cut of ₹20,000 for the Ather 450S electric scooter.

Tata Motors and MG Motor are among the other EV companies that recently announced price cuts.

“You asked, we delivered! We’re reducing our prices by upto ₹25,000 starting today for the month of Feb for all of you!! Breaking all barriers to #EndICEage! Valentine’s Day gift for all our customers,” said Bhavish Aggarwal in a post on X.

The price of its affordable offering, the Ola S1 X+ has been reduced from ₹1,09,999 to ₹84,999. The mid-range offering, the Ola S1 Air is now available for ₹1,04,999, down from ₹1,19,999. The premium Ola S1 Pro is available at ₹1,29,999, down from ₹1,47,999. All of the mentioned prices are ex-showroom.

Discounts aimed at boosting sales

Ola had announced similar discounts in January 2024 as well so we expect this to become a recurring offer as the company looks to continue leading the electric two wheeler market and take on internal combustion engine (ICE) vehicles.

Ola S1 X+ to take on ICE vehicles

One of the issues with EVs has been the price difference between them and similar ICE two-wheelers. With this price cut, the Ola S1 X+ takes on the likes of the Activa and Suzuki Access, which are priced around the ₹80,000 mark.

During an event, Bhavish Aggarwal had said that the company wants to compete not just with EVs but the top ICE makers such as Honda and Suzuki. For context, Ola Electric sold 32,160 scooters in January 2024 while Honda sold 1,73,760 units of the Activa during the same period.

Ola Electric vs other EVs

The Ola S1 X+ which is currently priced at ₹84,999 and the Ola S1 Air, priced at ₹1,04,999 take on the Ather 450S electric scooter, which is currently available at ₹1,09,999.

Interestingly, the Ola S1 Pro has now become the most affordable option in the premium electric scooter segment. The Ola S1 Pro, which is priced at ₹1,29,999 takes on the TVS iQube S priced at ₹1,40,025, the Ather 450X which is priced at ₹1,68,000 and the Bajaj Chetak which is priced at ₹1,44,463.


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