On January 1, Ola Electric declared that, according to the VAHAN Portal, it had 30,219 registrations in December and had a 40% market share in the EV 2W category.
During the month, the company recorded its greatest monthly registrations ever and reported a 74% year-over-year (Y-o-Y) growth when compared to the same month the previous year. With 83,963 registrations for the quarter that concluded in December, it also reported a Q-o-Q rise of 48% and a Y-o-Y growth of 68% in comparison to the same period the previous year.
In December, Ola Electric accomplished a second milestone: in just two years, the company produced 4,00,000 scooters, an industry first. According to a release, the company has also become the first EV 2W manufacturer in history to record more than 2.65 lakh registrations (as per VAHAN Portal) in a single calendar year.
“We believe that we have continued our market leadership for yet another quarter on the back of our strong product lineup comprising S1 Pro, S1 Air, and the S1 X+,” stated Anshul Khandelwal, Chief Marketing Officer of Ola Electric Technologies Private Limited. With the tremendous success of our “December to Remember” campaign, many more people have joined EV.
A considerable portion of consumers are opting for electric vehicles over conventional fossil fuel-powered automobiles due to their knowledge of the need to reduce their carbon footprint. To lessen air pollution, the government has actively promoted the usage of electric vehicles.
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