The center has reduced the amount of subsidy for the FEM II scheme from June. As a result, India’s electric two-wheeler industry is worried about whether it will be able to handle this shock. Experts believe that sales will be affected. By the end of June, their words are seen to be true. Last month saw a slowdown in corporate sales. But despite this, Ola Electric has been able to retain the title of the largest electric two-wheeler company. The company holds 40 percent share of the e-scooter market in terms of sales last month.
Ola electric scooter tops in sales
Like other companies, Ola’s sales collapsed in June 2023. According to statistics from the central portal Vahana, they managed to sell only around 18,000 units. Regarding the decrease in sales, Anshul Khandelwal, chief marketing officer of the company, said, “Although the sales decreased in June, the market share has been maintained as before. Our cost structure, strong supply chain and strong localization have been able to withstand the impact of subsidy cuts.”
Meanwhile, Ola has announced the opening of the purchase window for its cheapest model S1 Air scooter. Currently the company’s flagship model S1 Pro is priced at Rs 1,39,999. Whereas S1 with 3 kWh battery is priced at Rs 1,29,999. And the cost to buy S1 Air is Rs 1,09,999.
Ola is currently inaugurating one experience center after another in India to expand its business reach. Recently they opened 750th showroom. They have set a target of opening 1,000 outlets by August.