Ola Electric Zooms Past 2.5 Lakh EV Sales In 2023, First Company To Hit Milestone

Ola Electric Zooms Past 2.5 Lakh EV Sales In 2023, First Company To Hit Milestone

News by Team Drivio | 27 Dec 2023

Ola Electric accelerates ahead by becoming the first EV brand in India to sell over 2.5 lakh electric two-wheelers in a single calendar year.

  • Ola Electric sold a blazing 2,52,647 units between January 1 to December 21, 2023
  • The company recorded a 131% sales growth over 2022 numbers
  • Ola Electric maintained sales momentum of ~20,000 units per month through the year

The blockbuster sales numbers represent a thrilling 131% growth over 2022 sales of 1,09,395 units. Ola has maintained lightning quick sales velocity throughout 2023, averaging around 20,000 electrifying units monthly. After notching 18,353 units in January, Ola crossed the 20k milestone for the first time in March at 21,434 units. 

November was the most electrifying month with 29,898 EVs zoomed off the shelves. Its range of e-scooters compete with the likes of Ather 450X, Bajaj Chetak, TVS iQube and others in the segment.

Ola Races to 30% Market Share

On the back of scintillating sales, Ola Electric now commands an enviable 30.5% share of India's zapping EV two-wheeler market. Ola's 2.5 lakh plus yearly sales accounts for nearly 31% of the total 8.28 lakh EVs energized in India in 2023 as of December 21.

TVS Motor trails in second place with 1,62,399 units sold this year, capturing 19.6% market share. Premium EV brand Ather Energy takes the third spot with 1,01,940 sales and 12.3% share. While both brands have crossed 1 lakh yearly sales, Ola's volumes are still far ahead.

Charging Up Portfolio and Distribution

2023 has been a transformative year for Ola as it expanded its product portfolio from one to five electrifying scooters. The company's flagship S1 Pro high-speed scooter is priced at Rs 1.47 lakhs. Ola also unveiled the more affordable S1 low-speed scooter this year at an introductory Rs 90,000.

In parallel, Ola Electric has also amped up its distribution network across India. As of October 2023, the company has 935 experience centers and 392 service centers to improve availability and after-sales support.

With growing model range, expanding reach and class-leading sales, Ola Electric seems poised to electrify the Indian two-wheeler space in 2024. The company is spearheading India's EV revolution and has charged into the New Year at lightning speed.