Ola S1 range gets massive discounts. Here’s how much each model will cost

Indian electric two wheeler maker, Ola Electric has announced massive discounts on its S1 range of electric scooters. The discount is applicable from October 3 onwards. The company stated that the Ola S1X which starts at ₹84,999, ex-showroom, gets a massive discount of ₹35,000. With the discount, the Ola S1X now costs ₹49,999, ex-showroom. However, the company stated that the offer is valid till the stock lasts.

Additionally, the other models in Ola S1 range gets discounts of ₹10,000 along with additional benefits of ₹21,000. The additional benefits include exchange bonus of up to ₹5,000, over 140 MoveOS features worth ₹6,000, eight years of battery warranty that cost ₹7,000 and hypercharging credit worth ₹3,000.

In addition to these offers, Ola is also offering referral bonus to customers. The company stated that customers can get ₹3,000 per referral along with ₹2000 off on S1 per referee. Interestingly, the referral bonus on the S1 is only valid for October 2 and is valid for up to five referees only. Additionally, top 100 referring community members will get rewards of up to ₹11,11,111. The top 100 referring community scheme is valid from October 2 to October 31, 2024.

Ola Electric: Sinking market share

Data from the Vahan portal of the central government revealed that Ola Electric had sold 23,965 electric scooter units in the month of September. This is the second consecutive month of declining month-on-month sales and comes just two months after the company went public in a much-followed IPO (Initial Public Offering). All has not been well, however, and there may be a lot brewing behind the bare numerical highlights.

Bajaj Auto sold 18,933 units of its e-Chetak last month while TVS also reported a month-on-month rise by selling 17,865 units of its iQube. Both have managed to close the gap with Ola Electric in terms of monthly sales. Based on these numbers, Bajaj Auto is now the country's no.2 e-scooter maker. More significantly, the no.2 and no.3 are keeping the no.1 in their respective cross-hair. And Ola Electric, which sold over 52,000 units in March of this year, has continued to slide.

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