February 17, 2024Â :Â Bengaluru-based Ola Electric, an Indian electric two-wheeler manufacturer, has reduced the prices across its S1 scooter portfolio by up to INR 25,000. This significant price drop comes as a result of various factors contributing to cost reduction and incentives.
Cost Reduction Strategy
The company attributes the price reduction to its robust cost structure, integrated technology, and manufacturing capabilities. These factors have enabled Ola Electric to streamline its expenses and qualify for manufacturing incentives.
Revised Pricing Details
Here’s a breakdown of the revised prices for the S1 scooter variants:
- S1 Pro: INR 1,47,499 to INR 1,29,999
- S1 Air: INR 119,999 to INR 104,999
- S1 X (4kWh): INR 109,999 (unchanged)
- S1 X+ (3kWh): INR 109,999 to INR 84,999
- S1 X (3kWh): INR 89,999 (unchanged)
- S1 X (2kWh): INR 79,999 (unchanged)
Commitment to EV Adoption
A spokesperson from Ola Electric emphasized the company’s commitment to promoting EV adoption. They expressed confidence that the revised prices, now comparable to traditional ICE scooters, would incentivize customers to choose electric over conventional vehicles.
Government Support and Certifications
Ola Electric’s recent recognition as the first Indian two-wheeler company to receive the Domestic Value Addition (DVA) certificate under the Production Linked Incentive (PLI) Scheme has further boosted its cost-saving efforts. This certification acknowledges the company’s localized manufacturing capabilities and the support received through government subsidies.
Initiatives for EV Adoption
In addition to price reductions, Ola Electric has introduced various initiatives to facilitate EV adoption. These include an extended 8-year/80,000 km battery warranty across its product range and plans to expand its service network by 50% by April 2024.
With the launch of new products like the S1 X (4kWh) and a focus on improving service infrastructure, Ola Electric aims to break barriers in EV adoption and contribute to India’s renewable energy goals.
As the world emphasizes renewable energy to combat climate change, events like the Solar Power Congress 2024 highlight the importance of sectors like solar energy in achieving sustainable development goals. India’s solar potential plays a crucial role in meeting renewable energy targets and reducing carbon emissions.
