Electric scooter sales crossed Rs 1,100 cr in 2 days: Ola co-founder

PTI, Sep 17, 2021, 12:04 PM IST

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New Delhi: Ola co-founder Bhavish Aggarwal on Friday said sales of its S1 electric scooters crossed Rs 1,100 crore in two days.
The executive noted that while the company has stopped the buying process now, the purchase window will re-open on November 1, just in time for Diwali.

On Wednesday, Ola Electric had commenced the sale process of its electric scooter, which comes in two trims – Ola S1 and S1 Pro. On day one, the company sold scooters worth Rs 600 crore.

“Day 2 of EV era was even better than Day 1! Crossed ₹1100Cr in sales in 2 days! Purchase window will reopen on Nov 1 so reserve now if you haven”t already,” Aggarwal said in a tweet.

In a blogpost, Aggarwal said the excitement and enthusiasm customers showed for the products remained high throughout.

“In total over 2 days, we have done over Rs 1,100 crores in sales! 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! We truly are living in a digital India,” he said.

While the sale of the e-scooter was to start on September 8, it was postponed by a week to September 15, as the company faced “technical difficulties” in making the website for purchases live for customers. The e-scooter is available for purchase on the Ola App only currently, and not on the website.

Deliveries will start from October 2021. Buyers will be notified of estimated tentative delivery dates within 72 hours of purchase.

On August 15, the company unveiled its Ola S1 electric scooter in the two variants — S1 and S1 Pro — at Rs 99,999 and Rs 1,29,999, respectively (ex-showroom including FAME II subsidy and excluding state subsidies).

Ola Electric had opened pre-launch bookings of its electric scooters in July for Rs 499 and had received 1 lakh orders in just 24 hours. However, the company has not disclosed how many orders it has received so far.

Ola is setting up a manufacturing plant, spread across 500 acres, in Tamil Nadu with an investment of Rs 2,400 crore.

The company had stated that it would initially start with 10 lakh annual production capacity and then scale it up to 20 lakh, in line with market demand, in the first phase.

Ola Electric had claimed that its plant – when fully completed – would have an annual capacity of one crore units, “that is 15 per cent of the world’s entire total two-wheeler production”.