Ola Electric currently owns a 40% share of the electric scooter market in the country. Now, the company is planning to increase its market share to 60-70% with new product launches along with expanding its footprints in small towns. As per the company, smaller towns (Tier I and Tier II) such as Tumkur and Hassan in Karnataka, Durg in Chattisgarh, Tirupur in Tamil Nadu and Ernakulam in Kerala have 35% – 40% EV penetration. It’s equivalent to the metro cities including Bengaluru – 45% -50% and Pune 35% – 40%. In fact, cities like Surat and Jaipur recorded EV penetration of 35% – 40% and 33% respectively.
Small Towns In Focus
With an aim to tap such small towns, Ola Electric will expand its sales network to 1,000 in the next couple of months. It will setup experience centres in Tier I and Tier II cities that will increase EV penetration to 8% to 10% (from 1%- 2%). Anshul Khandelwal, CMO, Ola Electric said that “the smaller towns are where we see significant growth”. Recently, the company inaugurated its 500th experience centre in Srinagar.
Monthly Sales Targets
In April 2023, Ola registered sales of over 30,000 units and it topped the sales charts for the eight consecutive month. The company outsold e-scooter sales of Ather, Hero Electric and Okinawa. In order to enhance its offline presence, it started the online retailing of scooters and setting up multiple Ola Experience Centres (ECs) across the country.
More New Models
Talking about Ola Electric future products, the company has confirmed that it will roll out a new range of electric scooters addressing all price points this year. The third Ola offering will hit roads towards the end of this year. The company has confirmed that there will be “a few more” models. Earlier this year, Ola had revealed that it’s working on 6 new electric two-wheelers including a mass-market scooter. The Ola premium electric motorcycle range will include a sports bike, adventure tourer, road bike, cruiser and a mass-market bike.
