Here’s How Ola Electric Scooters Have Performed In The Market In The Last 3 Months

The Ola S1 range continues to be the best-selling electric scooter in India

Ola Electric recorded 37,191 e-scooter registrations in May 2024, according to the Vahan portal. The EV maker achieved a 49 percent market share last month in the electric two-wheeler segment, retaining its position as the best-selling electric scooter range in India.

For some perspective, Ola Electric previously achieved its highest-ever registrations of 53,000 electric scooters in March 2024, which includes the Ola S1 Pro, S1 Air and S1 X. One of the major reasons for the massive sales number could be that March was the last month of the FAME 2 (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) subsidy. Moreover, the manufacturer also announced discounts of up to Rs 25,000 to boost EV adoption.

In April, after the FAME 2 subsidy expired, the EMPS (Electric Mobility Promotion Scheme) 2024 subsidy came into existence. As the EMPS provided less subsidy than FAME 2, the prices of all the electric two-wheelers increased and the sales numbers received a hit. Ola Electric’s registrations also showed a drop of 35.8 percent month-on-month, with 34,000 registrations in April. However, Ola maintained its lead in the market with a 52 percent market share.

Do note that these are just registration numbers, and actual sales numbers may vary. This means that people who received deliveries of their e-scooters at the end of the month may have got them registered in the following month. Moreover, there are a few states which don’t come under the Vahan portal and are under older Vahan data.

The government is planning to bring the FAME 3 subsidy, which will likely be similar to the FAME 2 scheme with a subsidy of Rs 10,000/kWh of the battery capacity with a cap of 15 percent on the vehicle’s ex-factory price. It might be introduced for 2 years.