Ola Electric currently holds a 40 percent share of the electric scooter market in the country. Now, the company is planning to increase its market share to 60-70% by launching new products along with expanding into smaller cities. According to the company, smaller cities (Tier I and Tier II) such as Tumkur and Hassan in Karnataka, Durg in Chhattisgarh, Tiruppur in Tamil Nadu and Ernakulam in Kerala have 35% to 40% EV opportunity. This is at par with metro cities including Bengaluru at 45% -50% and Pune at 35% – 40%. In fact Surat registered an EV growth of 35% – 40% and Jaipur 33%.small town focus
With an aim to tap such smaller towns, Ola Electric will expand its sales network to 1000 in the next few months. It will set up experience centers in Tier I and Tier II cities which will increase EV adoption by 8% to 10% (from 1% – 2%). “We are seeing significant growth in smaller cities,” said Anshul Khandelwal, CMO, Ola Electric. Recently the company inaugurated its 500th Experience Center in Srinagar.
monthly sales target
In April 2023, Ola registered sales of over 30,000 units and topped the sales chart for the eighth consecutive month. The company overtook the sales of e-scooters from Ather, Hero Electric and Okinawa. To boost its offline sales, it started online retailing of scooters and set up several Ola Experience Centers (ECs) across the country.
new models coming soon
Talking about the future products of Ola Electric, the company has confirmed that it will launch a new range of electric scooters this year, catering to all price points. Ola’s third offering will hit the roads later this year. The company has confirmed that some more models will come. Earlier this year, Ola revealed that it is working on six 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.