‘E-scooters worth ₹600 cr sold in a day’

NEW DELHI: Ola co-founder Bhavish Aggarwal on Thursday said Ola Electric sold scooters worth over ₹600 crore on the first day of the sale of its model S1.

The executive noted that the company will shut the purchasing process from Thursday midnight. Ola Electric had on Wednesday commenced the sale process of its electric scooter, which comes in two trims - Ola S1 and S1.

“India is committing to EVs and rejecting petrol! We sold 4 scooters/sec at peak & sold scooters worth 600Cr+ in a day! Today is the last day, purchase will shut at midnight,” Aggarwal said in a tweet.

In a blogpost, the Ola co-founder said after the purchase process started, consumers responded by booking the Ola scooters in “unprecedented numbers”.

Noting that the company had sold scooters worth over ₹600 crore in 24 hours, Aggarwal said: “That’s more, in value terms than what the entire 2W industry sells in a day! Make no mistake, the age of EVs is here”.

“This response is beyond our expectations and given our production plans in the coming months, today will be the last day for consumers to purchase their Ola S1 and S1 Pro scooters. Those who have already reserved can purchase until midnight tonight at which point, the purchase window will close,” he added.

Aggarwal emphasised that India has huge pent up demand and a massive domestic market for two-wheeler EVs. “We must leverage this to drive innovation, a robust local EV ecosystem and make India not only a big EV market but also a global EV manufacturing hub,” he added.