New Delhi. Ola Electric on Monday announced that it recorded its highest ever monthly registrations in December 2023. According to the vehicle portal, the company recorded 30,219 registrations and captured 40 percent market share in the EV 2W segment.
The company recorded a growth of 74 percent year-on-year compared to the same month of 2022. Moreover, it registered a quarter-on-quarter growth of 48 per cent with 83,963 registrations during the quarter ended December and a year-on-year growth of 68 per cent compared to the same quarter of 2022.
“We believe we have continued our market leadership for another quarter on the back of our strong product lineup including the S1 Pro, S1 Air and S1 Is kept. Our ‘December to Remember’ campaign has been a huge success, bringing thousands of people into the EV fold.”
Additionally, the company said that Ola Electric achieved another milestone in December by reaching the industry-first production milestone of 4,00,000 scooters in a span of just two years.
The company has also emerged as the first EV 2W manufacturer to register more than 2.65 lakh registrations (as per Vahan portal) in a calendar year.
Ola Electric recently expanded its scooter portfolio to five products. Priced at Rs 1,47,499, the S1 Pro (second generation) is the company’s flagship premium EV scooter, while the S1 Air is available at Rs 1,19,999.
It has introduced the S1
Meanwhile, Ola Electric has filed its draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI).
According to Moneycontrol, citing sources, the fresh issue component will include Rs 5,500 crore and the remaining amount will be in the OFS (offer for sale) category, around Rs 1,750 crore.
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Web Title-Ola Electric records highest ever monthly registrations in December 2023