Ola Electric has emerged as the clear leader in the electric two-wheeler industry, capturing a 24.91% market share in January. The company's strong performance can be attributed to its robust S1 portfolio and recent expansion of its sales and service network. Other prominent players in the industry like TVS Motors and Bajaj Auto closely followed Ola, while Ather Energy and Greaves Electric Mobility are also making strides in the competitive market.
OLA, the popular Indian ride-hailing company, has finally unveiled its highly anticipated Gen 3 S1 series of electric scooters. The new lineup boasts significant updates and improvements, including a structurally integrated battery pack, mid-mounted motor, ride-by-wire system, and ABS. Some variants even offer multiple riding modes for added convenience and customization. With a maximum range of 320 km and delivery starting in mid-February 2025, these scooters are sure to impress commuters and eco-conscious consumers alike.
The Indian auto industry is experiencing a surge in electric vehicle development as major brands like Tata Motors, Eicher Trucks, and Lohia Auto unveil their latest EV models at the prestigious Auto Expo 2025 in New Delhi. The event also saw record participation of 34 vehicles and a 12% rise in auto dispatches in 2024 as reported by SIAM. In line with the government's push for clean energy and sustainable transport, partnerships like that of Rapido and IndoFast for 10,000 electric three-wheelers and TIVOLT and Tata Power for EV charging infrastructure have also been announced. However, with CCPA conducting an investigation on Ola Electric for potential violations in service and e-vehicle sales, the growth of the sector is not without its challenges.
Bajaj Auto, the Pune-based motorcycle specialist, has introduced the new 35 Series of the popular Chetak electric scooter with three variants. With a starting price of Rs 1.27 lakh, the feature-loaded 3501 variant aims to compete with its counterparts like TVS iQube, Ola S1, and Ather Rizta in the Indian market. With the customer-friendly delivery schedule, Bajaj Auto is confident to retain its leadership position in the electric two-wheeler segment. This strategic move by the company not only caters to the needs of young riders but also showcases its commitment to providing cutting-edge technology with neo-classic style.
Ola Electric is poised to significantly increase its presence with the expansion of its sales and service network to 4000 stores on December 25th. This move will bring their affordable and top-notch electric vehicles within reach to Indians across major cities and towns. With the aim to provide accessibility to all, Ola Electric's founder Bhavish Aggarwal vows to have a store and service centre in every town, city, tehsil, and taluka. This expansion will also help address customer servicing issues and further promote the usage of EVs by highlighting the cost-saving benefits of up to Rs 4,000 per month.
Ola Electric has made history by achieving the impressive feat of selling 4 lakh units in a calendar year, beating its competitors and establishing itself as the leader in the electric 2-wheeler segment in India. With a market share of 36%, the company has successfully crossed the 7.5 lakh unit mark, leaving other prominent players such as TVS, Bajaj Auto, and Ather Energy behind. This accomplishment cements Ola Electric's position as a major player in the Indian business landscape.
In the world of business and innovation, multiple companies are making moves towards a more sustainable future by investing in electric vehicles. Indian car giant Mahindra recently launched two new EVs, the BE 6e and XEV 9e, with a combined investment of Rs 4.5k Cr. Skoda Auto plans to follow suit by introducing electric vehicles in India, according to CEO Zellmer. Not to be left behind, M&M announced plans to sell EVs through their existing network, while Skoda Auto partnered with Indian coffee planters for sustainable energy solutions. Notable partnerships include Switch Mobility and Vertelo joining forces to deploy 1,000 eCVs in India and Honda introducing ACTIVA e and QC1 electric scooters in the country. All of this while Ola Electric faces probes for their electric vehicle service and Coal India seeks bids for an e-auction platform.
Ola Electric, the electric vehicle arm of Ola, launched two new ranges of scooters - Gig series and S1 Z series - targeting both gig workers and urban commuters. Along with the scooters, Ola also announced the Ola PowerPod, an inverter that uses their portable batteries to power household appliances. The stock price of Ola Electric jumped by 8% on November 27, marking a 19% recovery from the 52-week low. Founder Bhavish Aggarwal said that these new products will make energy more efficient and provide flexibility in both mobility and household usage.
Indian-based electric mobility platform Ola Electric is making waves in the EV market with a series of recent milestones. In the past year, the company has launched a commercial e-scooter, resolved nearly all complaints through its consumer complaint portal, and seen a significant increase in vehicle registrations and sales outlets. However, it has also faced challenges, including job cuts and a show cause notice related to consumer protection. With the launch of the new Honda ACTIVA e scooter and a call to action for the industry to drive electric vehicle adoption, Ola Electric is further solidifying its position as a key player in the business realm.
Ola Electric has made a big splash in the electric vehicle market by launching a commercial e-scooter called 'Gig', priced at Rs 1.19 lakh. However, the company is facing scrutiny from India's consumer protection agency for alleged poor service and quality issues. These developments come amidst a push for more electric vehicles in the country, with a number of other EV companies also making headlines.