INDIA: Ola Electric has dominated India’s premium electric scooter market with its sales. The manufacturer of electric vehicles has sold 20,000 vehicles for three months in a row, including November 2022.
Given this, Ola Electric Chief Executive Bhavish Aggarwal has shown certainty that the Ola S1 will become the top of the line in August 2023.
The manufacturer of electric vehicles went so far as to assert that the sales of the electric two-wheeler will surpass those of the ICE scooter, which is currently the most popular on the market. To put it another way, the Ola S1 will surpass the Honda Activa as India’s most popular vehicle.
Bhavish Aggarwal tweeted that all variants of the Ola S1 will become the best-selling scooter in India by August 2023. He adds that the electric scooter sales will be higher than those of the best-selling ICE scooter.
Ola has made similar claims in the past and successfully met its promises. Nevertheless, the company has chosen a more significant target this time around.
Ola Electric is getting ready to reach the milestone on the ground. The production of the company’s electric scooter has begun to increase.
However, the goal is enormous; for context, in September 2022, 2.45 million Honda Activa’s were sold. Ola Electric sold 9,649 units that same month.
A few things could tip the balance in Ola’s favour, despite the seemingly impossible target. For instance, the government has policies that favour electric vehicles, such as the subsidy offered to buyers of electric vehicles. In addition, the Ola S1’s cheapest model is significantly less expensive than the Honda Activa.
Besides, Honda has plans to enter the EV market with swappable battery technology. The Japanese automaker might shift its resources and attention away from ICE vehicles.
The Japanese automaker would enter a market where Ola has proactively secured itself and has plans to reinforce its foundation.
Also Read: Australia Puts Sanctions on Iran and Russia for Violating Human Rights
