In a spectacular showcase of dominance in the electric vehicle (EV) landscape, Ola Electric marked the beginning of the new year by revealing astounding numbers for December. The company, on January 1, disclosed a staggering 30,219 registrations, securing an impressive 40% market share in the EV 2W segment, according to the VAHAN Portal.
December proved to be a monumental month for Ola Electric, witnessing its highest-ever monthly registrations and a remarkable year-on-year (Y-o-Y) growth of 74%. This achievement is particularly noteworthy when compared to the same month in the preceding year.
The company further demonstrated its strength with a quarter-on-quarter (Q-o-Q) growth of 48%, accumulating a total of 83,963 registrations during the quarter ending in December.
Year-on-year growth for the quarter stood at an impressive 68%. Adding to its accolades, Ola Electric proudly announced an industry-first production milestone in December, surpassing 4,00,000 scooters in just two years. This landmark achievement solidifies the company’s commitment to driving innovation and delivering quality electric vehicles to the market.
Notably, Ola Electric has etched its name in history by becoming the first-ever EV 2W manufacturer to achieve over 2.65 lakh registrations in a calendar year, as per VAHAN Portal records. Anshul Khandelwal, Chief Marketing Officer at Ola Electric Technologies Private Limited, expressed his enthusiasm, stating, “We believe that we have continued our market leadership for yet another quarter on the back of our strong product lineup comprising S1 Pro, S1 Air, and the S1 X+.
Our ‘December to Remember’ campaign has been a massive success, bringing thousands more under the EV fold.” The stellar performance of Ola Electric in December 2023 reaffirms its position as a frontrunner in the EV industry.
With a commitment to innovation, a robust product lineup, and strategic marketing initiatives, Ola Electric is poised for continued success in the evolving landscape of electric mobility.
As the company continues to break barriers, it sets a compelling example for the future of sustainable transportation.
