Ola CEO Bhavish Aggarwal announced the price cut, and new prices of Ola Electric scooters
In a move set to further revolutionize India’s electric vehicle (EV) market, Ola Electric, the nation’s leading electric scooter brand, has declared a significant price reduction for its acclaimed S1 X electric scooter range, effective immediately.
Ola Electric Scooter Price Cut
The price revision sees a remarkable decrease across the S1 X lineup. The introductory price for the S1 X 2kWh variant now stands at Rs 69,999, down from the previous Rs 79,999. Similarly, the S1 X 3kWh variant is now priced at Rs 84,999, compared to the earlier Rs 89,999. The range-topping S1 X 4kWh variant now commands Rs 99,999, representing a significant reduction from its earlier asking price of Rs 1.10 lakh.
These price adjustments are poised to make Ola Electric’s offerings even more accessible to the Indian populace, fostering widespread adoption of electric mobility solutions. Deliveries for the revamped S1 X lineup are slated to commence next week, offering consumers the opportunity to experience cutting-edge electric mobility at unprecedented affordability.
In tandem with the price cut for the S1 X range, Ola Electric has maintained competitive pricing for its other models. The S1 X+, S1 Air, and S1 Pro retain their market positions with marginal price adjustments. The S1 X+ is now priced at Rs 89,999, reflecting a slight increase of Rs 5,000. Meanwhile, the S1 Air and S1 Pro maintain their respective prices of Rs 1.05 lakh and Rs 1.30 lakh. All models come with an impressive 8-year warranty as standard, underscoring Ola Electric’s commitment to quality and longevity.
The S1 X lineup boasts a range of features catering to diverse consumer preferences. From the entry-level 2kWh variant to the range-topping 4kWh variant, each model offers impressive battery capacities and ranges, ensuring suitability for various commuting needs. Additionally, smart connectivity features such as keyless unlock further enhance the user experience, setting a new benchmark for electric scooter technology in India.
Strategic Timing: Ola’s Price Cut Amid Competitors’ Hikes
Amidst a backdrop of price hikes from other electric scooter manufacturers, Ola Electric’s recent price reduction comes as a refreshing contrast. The timing of this move is particularly noteworthy, occurring against the backdrop of a broader trend in the industry towards increased pricing.
The context for these price adjustments lies in the introduction of the Electric Mobility Promotion Scheme (EMPS) by the Government of India. With the conclusion of the FAME II scheme on March 31, 2024, the new EMPS aims to incentivize electric vehicle adoption while ensuring sales remain robust. Unlike its predecessor, the EMPS offers subsidies capped at Rs 10,000 per electric scooter, a notable decrease from previous subsidy levels.
In response to these changing dynamics, electric two-wheeler manufacturers such as Ather, Bajaj, TVS, and Vida have announced price hikes on their respective models. These adjustments reflect the necessity for manufacturers to adapt to the evolving regulatory landscape while balancing consumer affordability.
Contrary to this trend, Ola Electric’s decision to reduce prices underscores their commitment to making electric mobility more accessible to the masses. By offering competitive pricing amidst industry-wide increases, Ola Electric positions itself as a frontrunner in driving widespread adoption of electric vehicles.
