Ola Electric Sees Bookings Worth Rs 1,100 Crore For Scooters In Two Days

Ola Electric Mobility Pvt. received bookings worth Rs 1,100 crore for its scooters in two days at a time states offer incentives to transition away from the fossil fuel-powered vehicles to curb pollution.

The company has sold Ola S1 scooters worth more than Rs 1,100 crore in two days since the booking opened, according to its blog post on Friday. On the first day alone, it had sold scooters worth more than Rs 600 crore. The booking amount was Rs 20,000.

The sale opened on Wednesday for customers who reserved the scooters in advance by paying Rs 499. The company had deferred bookings last week due to technical glitches on its website.

“This is unprecedented not just in the automotive industry, but it is one of the highest sales in a day (by value) for a single product in Indian e-commerce history,” Ola Electric said in the blog post.

Ola Electric in August had launched the scooters, Ola S1 and S1 Pro, priced at Rs 99,999 and Rs 1.29 Lakh, respectively, after the FAME-2 subsidy. While S1 Pro has a range of 181 km, S1 has 121 km. Ola Electric scooters have the biggest battery size among peers at 3.97 Kwh.

The company is already working on its future factory that will cost Rs 2,400 crore. In the first phase, the factory is expected to start with an annual production capacity of 10 lakh units and then will double to 20 lakh. It aims to make 1 crore two-wheeler annually or 15% of the world’s e-scooters by 2022.

India is committing to electric vehicles and rejecting petrol, Bhavish Aggarwal, chief executive officer at Ola Electric, had said on Twitter on Thursday. “India has a huge pent-up demand and a massive domestic market for two-wheeler EVs.”

The company in August had also indicated its plan to enter into battery-powered motorbikes and cars in the due course of time.