Ola Electric Price Reduced for S1 Range by INR 25,000

Orhan Wadia
Orhan Wadia - Editor
2 Min Read

In a move following Tata Motors’ recent reduction in Battery Electric Vehicle (BEV) prices, Ola Electric has slashed the prices of its battery-powered scooters by up to Rs 25,000 for the month of February. The Bangalore-based electric vehicle startup attributed this price reduction to its robust cost structures, vertically integrated in-house technology, manufacturing capabilities, and eligibility for manufacturing incentives.

Effective February 16, the prices for the S1 Pro, S1 Air, and S1 X+ models are now set at Rs 129,999, Rs 104,999, and Rs 84,999, respectively, until the end of this month. Ola Electric, which is gearing up for an IPO, recently secured certification for its second product under the Production-Linked Incentive (PLI) scheme, making the Ola S1 Pro and Ola S1 Air eligible for subsidies under the government’s Auto PLI scheme for the next five years.

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The company expressed its commitment to accelerating Electric Vehicle (EV) adoption and making EVs more affordable and accessible. Ola Electric’s Chairman and Managing Director, Bhavish Aggarwal, announced the “special discount” on Twitter, emphasizing the company’s mission to break barriers in EV adoption. The discount is applicable from February 16 to the end of the month.

This move aligns with Ola Electric’s strategy to foster EV adoption across the country. In January, the company introduced a similar scheme offering a 50 percent discount on extended warranties and up to Rs 2,000 exchange bonus on the S1 Air and S1 Pro models. Industry experts view Ola Electric’s decision to pass on benefits to consumers as a strategic approach to enhancing the accessibility of electric mobility in the Indian market. Uday Narang, Founder and Chairman of Omega Seiki Mobility, noted the positive downward trend in EV prices as the market matures, predicting continued growth and adoption in the sector.

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