Ola Electric's S1 Air e-scooters are pictured inside its manufacturing facility in Pochampalli, Tamil Nadu.
Credit: Reuters photo
New Delhi: Ola Electric on Monday slashed prices of its entry-level scooter S1 X by Rs 5,000 to Rs 10,000 across variants, bringing it at par with conventional scooters.
The new S1 X was launched in February this year with a price range of Rs 79,999 to Rs 1,09,999 across three variants.
In a virtual address, Ola Electric Chief Marketing Officer Anshul Khandelwal said the prices of the company's entry-level scooter have been reduced with immediate effect and deliveries would start next week.
Under the new prices, S1 X with 4kWh battery will now cost Rs 99,999, down from Rs 1,09,999 announced earlier. Similarly, S1 X with 3kWh battery has been priced at Rs 84,999 instead of Rs 89,999 earlier. The S1 X 2kWh battery variant will cost Rs 69,999 (introductory price), reduced from Rs 79,999 earlier, he said.
"We feel that India needs much more. India needs a price at which they (consumers) can truly adopt EVs," Khandelwal said.
An average scooter is priced at Rs 1 lakh, he said adding consumers have given feedback that they would think about electric scooters when prices are at the price of petrol scooters.
"We thought why not do that. Let's just ensure that we give you everything and much more than a petrol scooter," he asserted.
Ola Electric's announcement comes just over a week after rival Ather Energy introduced a range of family electric scooter 'Rizta' priced between Rs 1,09,999 lakh and Rs 1,44,999.
The company said the S1 X range marks its entry into the mass market segment. It comes with an 8-year/80,000 km complimentary battery warranty.
The entry-level electric scooter offers an IDC-certified range of 190 km, 143 km, and 95 km in 4 kWh, 3 kWh, and 2kWh variants, respectively. It has a top speed of 90 kmph in 4kWh and 3kWh variants, and 4.1 seconds and 85 kmph in the 2 kWh variant, Ola Electric said.
Khandelwal said electric scooter adoption in India as of March 31, 2024, stood at 25 per cent and 9 per cent in the overall electric two-wheeler market, adding the 'future is truly electric'.