Auto & Transportation

Ola S1 electric scooter range gets significant price cuts, check details here

By - 16 Feb 2024 09:18 PM

The country's leading electric two-wheeler manfacturer, Ola Electric, has slashed the prices of its S1 electric scooter range by up to Rs 25,000. The company offers S1 X+, S1 Air and S1 Pro.The price cut comes following the softening of battery cell prices in the international markets. A battery makes up nearly 40% of the cost of an electric vehicle (EV). Ola Electric's retail sales increased 75.73% to 32,252 units in January 2024 from 18,353 units in the same month last year, according to data from the industry body Federation of Automobile Dealers Associations (FADA). The company sold 30,263 units in December 2023.

The industry-wide electric two-wheeler sales rose 26.14% to 81,608 units in January 2024 from 64,694 units in the year-ago month. The retail sales stood at 75,522 units in December 2023.In the passenger vehicle (PV) segment, Tata Motors recently reduced the prices of the Nexon.ev by up to Rs 1.2 lakh and that of the Tiago.ev by up to Rs 70,000. MG Motor India also slashed the prices of the Comet EV and the ZS EV earlier this month