Ola Electric Reports Highest-Ever Monthly Sales; Clocks 27,000 Units in March

Ola Electric clocked its best-ever monthly sales in March this year. The fastest-growing EV manufacturer sold over 27,000 units in the last month. This has led the company to become more consolidated, with its market share swelling to over 30 per cent, according to some industry sources. It is to be noted that Ola concluded the financial year 2022-23 by selling over 2 lakh electric vehicles. For 7 months back-to-back, it has maintained the status quo by staying on top of the sales chart.

Also Read: Ola Electric to Raise USD 300 Million for Expansion Plans

Sales Performance for FY2022-23: Here's what the company says

Commenting on the company's sales performance for FY2022-23, Bhavish Aggarwal, Founder & CEO, Ola Electric, said, "FY 23 has truly been a defining year for the EV industry in India. At Ola, we have remained resolute in prioritising scale, speed, and uncompromising quality standards, all of which have contributed to the company’s consistent leadership position in the market. While last year has been successful in making EVs mainstream, the next couple of years will take the EV revolution to humanity scale, and Ola will be at the forefront of this revolution to lead this paradigm shift."

As disclosed earlier, Ola intends to expand its reach across the country and is planning to raise funds of about USD 300 million for its expansion goals & corporate needs. At the moment, it has over 400 experience centres designed to provide a wide range of services to its Indian customers. Moreover, it has plans to expand its offline footprint by adding 50 new centres daily. 

February Sales Performance

Ola also recorded significant sales growth by selling 17,667 units in February 2023. It outperformed all other EV manufacturers, considering the fact that there are numerous brands dominating the Indian EV market that include Honda, Hero Electric, Bajaj, and TVS. In juxtaposition, TVS managed to sell 15,522 units of the iQube in the Indian market and secured the second spot in the rankings. 

Also Read: TVS iQube S vs Ola S1 Pro Electric Scooter Comparison Review

Ola Electric, which comprises the S1 and the S1 Pro to begin with, has expanded its lineup with the S1 Air. The 3 new variants of the Ola S1 Air will be delivered starting July 2023, drawing power from 2kWh, 3kWh, and 4kWh battery packs. Also, the company has the newest variant of the S1 that uses a 2kWh battery for the city commute.