The Indian electric two-wheeler manufacturer, Ola Electric, has announced its sales numbers for the month of June. It managed to sell close to 18,000 units in June 2023 in the Indian market, the company said in a statement. The company continued to maintain its strong position in the electric two-wheeler market and ended the month with a market share of 40 per cent (according to the data released by VAHAN), however, if we juxtapose June 2023 sales numbers with May 2023 numbers, we will find that the EV start-up marked its highest-ever monthly sales in May, selling over 35,000 units in the country. This denotes a significant decrease of 48.5 per cent in June. What triggered this decline is the government's decision on May 22 to slash the Fame-II subsidy to Rs 10,000 per kWh from Rs 15,000 per kWh.
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As well, the cap for the incentive was lowered to 15 per cent of the vehicle's ex-factory price, as against the 40 per cent benefit extended earlier. Therefore, value-conscious EV buyers advanced their purchases prior to price increases by manufacturers.
Electric Two-Wheeler Sales in June 2023
It is also worth noting that the overall electric two-wheeler sales in June dropped 57 per cent from the last month to hit their lowest level in the last 12 months, according to VAHAN.
Ola Electric: The Road Ahead
Taking a look toward July, the Bengaluru-based EV start-up is preparing to expand its product portfolio with the introduction of the most affordable Ola S1 Air, the deliveries of which will commence anytime soon. The S1 electric scooter comes in three variants - S1 Air, S1, and S1 Pro.
The 2kWh battery variant of the firm's entry-level electric scooters has now been quietly dropped. Following this, the Ola S1 Air will only be offered with the 3kWh battery pack and will now cost Rs 1.10 lakh (ex-showroom). Meanwhile, the S1 and the S1 Pro will be available with a 3kWh and a 4kWh battery pack, respectively.
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As for the prices of the S1 and S1 Pro, they will start at Rs 1.30 lakh and Rs 1.40 lakh, respectively. All prices, including the updated FAME II subsidy, are ex-showroom, Bengaluru. Ola's product line competes with those of Ather Energy, TVS, Bajaj, Vida, Okinawa, and other manufacturers.
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