Ola Electric ends FY24 with record 115 pc growth

Bengaluru, April 1 (IANS) Ola Electric achieved a growth of 115 per cent (year-on-year) in FY24 over FY23 with 328,785 units registered as against 1,52,741 units in FY23, the company said on Monday.

The company grew by 42 per cent (quarter-on-quarter) with 119,310 units registered during Q4 FY24, compared to 84,133 units in the previous quarter.

“Crossed 50,000 for the first time, touched 53,000 registrations in March. The EV industry had a massive growth of 30 per cent in FY24 with over 9 per cent EV penetration in March,” Ola Founder and Chairman Bhavish Aggarwal posted on X.

With the launch of S1 X (4kWh), Ola Electric expanded its portfolio to six products (S1 Pro, S1 Air, S1 X+, S1 X - 2 kWh, 3kWh, 4kWh), ranging across different price points and catering to customers with different range requirements.

“The fact that we recorded almost 1.20 lakh registrations in Q4 FY24 alone speaks volumes of our robust scooter portfolio, and we aim to continue the growth trajectory and contribute further to India’s electrification journey,” said Anshul Khandelwal, Chief Marketing Officer, Ola Electric.

Ola Electric has also launched an 8-year/80,000 km extended battery warranty for the entire range of products at no extra cost.