The Business Bytes
TBB BUREAU
BHUBANESWAR, FEB 23, 2024
Ola Electric has witnessed a remarkable surge in sales following a reduction in prices, as per reports. Within a mere three days since announcing the price adjustments, the company reportedly managed to sell 10,000 electric scooters.
Last week, Ola implemented price cuts across its S1 X+, S1 Air, and S1 Pro models. The flagship S1 Pro model, which previously carried an ex-showroom price of Rs 1,47,500, now stands at Rs 1,30,000 after a substantial reduction of Rs 17,500.
Similarly, the S1 Air received a notable price reduction of Rs 15,000, bringing its ex-showroom price down to Rs 1.05 lakh from Rs 1.20 lakh. The most affordable model in Ola’s lineup, the S1 X+, saw the steepest reduction with a whopping Rs 25,000 decrease, resulting in an ex-showroom price of Rs 85,000, which is lower than many of its traditional competitors.
In addition to the price cuts, Ola Electric introduced an extended battery warranty of 8 years/80,000 km across its entire product range, without any additional charges. Furthermore, the company unveiled plans to expand its service network significantly, aiming to increase the current count of 414 service centers to approximately 600 centers nationwide by April 2024.
