Monday, February 26, 2024

Ola Electric made its highest monthly sales in January, market share reached 40 percent

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Sales of electric scooters of Ola Electric, one of the big companies in the electric two-wheeler segment, have been more than 31,000 units in January. The company has retained the first position in this segment with about 40 percent share. It has grown by more than 70 percent on year-on-year basis.

The company sold more than 30,000 units of electric scooters in December. It became the first electric two-wheeler maker to achieve this sales figure in a month. According to vehicle portal, in January Ola Electric There have been more than 31,000 registrations of electric scooters. The company’s Chief Marketing Officer, Anshul Khandelwal, said, “This year has started on a great note. January has seen the highest number of registrations for the company so far. We believe that with the S1 Pro, S1 Air, and S1 Our strong range of products will continue the momentum and encourage more customers to purchase electric vehicles.”

This month Ola Electric will start manufacturing lithium ion cells. For this the company has set up Krishnagiri factory in Tamil Nadu. This Gigafactory will provide employment to approximately 25,000 people when it reaches its full capacity. Recently, Bhavish Aggarwal, founder of Ola Electric, gave this information at the Tamil Nadu Global Investors Meet held in Chennai. He had said, “When this Gigafactory starts in February, Ola Electric will become the first company to manufacture lithium ion cells in the country.” The capacity of this Gigafactory will be 100 GWh. It will be started with a capacity of 5 GWh. company It plans to raise $662 million through Initial Public Offering (IPO). In this, along with issuing new shares, shares will also be sold by the existing investor SoftBank of Japan.

Ola Electric started selling electric scooters two years ago. It plans to export scooters to South East Asia, Latin America and Europe. The company also aims to launch electric motorcycle and electric car. It has given information about expanding the service network as well as installing new fast chargers. The company has 400 service centers and around 1,000 EV chargers.

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