EV Price cut: Ola Electric reduces price of S1 X e-scooter, making EVs more accessible

EV Price cut: Ola Electric made headlines on Monday as it announced significant price reductions for its entry-level e-scooter, the S1 X. The price cuts range from Rs 5,000 to Rs 10,000 across variants, effectively aligning the cost with traditional scooters in the market.

Immediate Effect on Pricing

During a virtual address, Ola Electric's Chief Marketing Officer, Anshul Khandelwal, revealed that the revised prices would take immediate effect, with deliveries scheduled to commence next week. This move aims to enhance accessibility and affordability for potential electric vehicle (EV) adopters.

Revised Pricing Details

Under the revised pricing structure, the S1 X equipped with a 4kWh battery will now be priced at Rs 99,999, down from the previous Rs 1,09,999. Similarly, the S1 X with a 3kWh battery sees a reduction to Rs 84,999 from Rs 89,999. Additionally, the introductory price for the S1 X with a 2kWh battery now stands at Rs 69,999, down from Rs 79,999.

Meeting Consumer Demand

Khandelwal emphasised the importance of meeting consumer expectations, noting that the Indian market desires EVs at competitive price points. He stated, "We feel that India needs much more. India needs a price at which they (consumers) can truly adopt EVs."

Competing in the Market

Ola Electric's strategic pricing adjustment comes shortly after the introduction of Ather Energy's 'Rizta' electric scooter, priced between Rs 1,09,999 and Rs 1,44,999. This move signifies Ola Electric's intention to establish a strong presence in the mass market segment.

Enhanced Features and Warranty

The S1 X range boasts an 8-year/80,000 km complimentary battery warranty, providing consumers with added peace of mind. Moreover, the entry-level e-scooter offers impressive ranges of 190 km, 143 km, and 95 km for the 4 kWh, 3 kWh, and 2 kWh variants, respectively.

Accelerating Electric Mobility

Khandelwal highlighted the growing adoption of electric scooters in India, with statistics indicating a 25% market share as of March 31, 2024. He reiterated that "the future is truly electric," underscoring Ola Electric's commitment to driving the country's transition towards sustainable mobility.

Statement from Ola Spokesperson

Commenting on the pricing strategy, a spokesperson from Ola expressed confidence in driving EV penetration across India. Leveraging robust cost structures and cutting-edge technology, Ola Electric aims to overcome the affordability hurdle and accelerate the transition to sustainable mobility.