Ola Electric Stages Strong Recovery; Sales Jump 150% in March
The electric two-wheeler market witnessed a significant shift last month. Ola Electric’s sales surged by over 150% in March on a month-over-month basis. Registrations for the company’s electric two-wheelers rose to 10,117 units in March; in February, the company had sold 3,973 units.
A media report indicates that during the final week of March, Ola Electric’s daily orders exceeded 1,000 units. A company spokesperson confirmed that orders for Ola Electric increased in March, attributing this surge largely to improvements in the company’s service operations. By streamlining parts supply and closely monitoring its service network, Ola Electric has successfully offered same-day servicing for the majority of its vehicles. This initiative has played a key role in reducing customer complaints regarding service.
In March, the company also achieved the milestone of surpassing a total of one million registrations for its electric two-wheelers. Last year, a rise in customer complaints regarding service had negatively impacted Ola Electric’s sales figures. The company subsequently launched its ‘Hyperservice’ program in an effort to address and resolve these customer service grievances. Recently, the company also commenced deliveries of vehicles equipped with the 4680 Bharat Cell battery pack, starting with the S1 Pro+ model. This battery pack is manufactured domestically, making Ola Electric the first company in India to establish its own integrated battery pack and cell manufacturing process. Additionally, Ola Electric has unveiled the Roadster X, an electric motorcycle. The company began manufacturing electric two-wheelers four years ago. Ola Electric’s product portfolio currently comprises the S1 series of electric scooters as well as the Roadster X electric motorcycles. In recent months, the company has also closed down some of its showrooms in certain states.
However, TVS Motor retained the top spot in this market during the last financial year. TVS Motor has sold approximately 330,145 units. Following this, Bajaj Auto secured the second position with sales of approximately 276,518 units of its Chetak electric scooters. In the previous financial year, Ola Electric held the fourth position with sales of approximately 160,558 units.
