Ola Electric captures 40 per cent market share in two-wheeler EV segment

Bengaluru/Hyderabad: Ola Electric on Monday  announced that it recorded 30,219 registrations in December and captured a 40% market share in the EV 2-wheeler segment (as per VAHAN Portal).

The company clocked its highest ever monthly registrations during the month and posted a year-on-year (Y-o-Y) growth of 74% compared to the same month last year. Additionally, it posted a Q-o-Q growth of 48% with 83,963 registrations during the quarter that ended December and a Y-o-Y growth of 68% when compared to the same quarter last year.

Additionally, Ola Electric has achieved yet another achievement in December by reaching an industry-first production milestone of 4,00,000 scooters in the span of just two years. The company has also emerged as the first ever EV 2W manufacturer to record over 2.65 lakh registrations (as per VAHAN Portal) in a calendar year.

Ola Electric Technologies Private Limited, Marketing Officer, Anshul Khandelwal, said “We believe that we have continued our market leadership for yet another quarter on the back of our strong product lineup comprising S1 Pro, S1 Air, and the S1 X+. Our ‘December to Remember’ campaign has been a massive success, bringing thousands more under the EV fold.”