Ola Electric Achieves Record-Breaking Registrations in March, Ends FY24 with Stellar Growth

New Delhi: Ola Electric, a leading player in India’s electric vehicle (EV) market, has set a new milestone by registering over 53,000 registrations in March, its highest monthly volume for the fifth consecutive month. The company’s remarkable performance resulted in a year-on-year growth of 115% in FY2014 compared to FY2013, with 328,785 units registered compared to 152,741 units in the previous financial year.

Anshul Khandelwal, Chief Marketing Officer, Ola Electric, expressed happiness at ending FY 2024 on a high and emphasized the company’s continued leadership in both volumes and market share throughout the financial year. He attributed the success to the strong scooter portfolio, which saw around 1.20 lakh registrations in Q4FY24 alone, reflecting strong consumer demand and confidence in Ola Electric’s offerings.

The increase in registrations comes after Ola Electric’s recent initiative to accelerate EV adoption in India. S1 Additionally, Ola Electric unveiled an extended battery warranty of 8 years/80,000 km for all products, addressing a major concern of potential buyers.

Additionally, the company introduced a portable fast charger accessory and inaugurated its 450th service centre in Prayagraj, underscoring its commitment to providing seamless customer support and infrastructure across the country.

Ola Electric’s stellar performance is a testament to its tireless efforts to overcome barriers to EV adoption and advance India’s electrification journey. With a strong focus on innovation, product offerings and customer service, Ola Electric is set to maintain its position as a leader in the rapidly evolving EV landscape.

Investors and consumers alike are closely watching the trajectory of Ola Electric, especially in light of the company’s proposed initial public offering (IPO) of equity shares, which is subject to regulatory approvals and market conditions. Despite the high-risk nature of equity investments, Ola Electric’s continued growth and strategic initiatives bode well for its prospects in India’s growing EV market.

As Ola Electric continues to push boundaries and expand its presence, it continues to be at the forefront of driving sustainable mobility solutions and shaping the future of transportation in India.