No ride, showroom but sales up & away: 5 possible factors powering Ola Electric
Ola Electric scooters had been creating a big buzz even before the official name, specifications and features were revealed by the company. By the time the S1 and S1 Pro trims were officially named and revealed, and the reservation window was opened in July, Ola Electric had managed to build on the buzz.
With one lakh bookings in 24 hours since the reservation window was opened and with sales worth ₹600 crore in 24 hours since the purchase window was opened on Thursday, Ola Electric has announced its arrival. And how.
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With not one offline showroom anywhere in the country - Ola Electric has a direct-to-home sales model, even test rides are only slated to start from October onwards. Yet, the company has managed to open its innings with a bang.
Here are five possible factors that may be powering Ola Electric in the country:
Pricing and subsidies
At ₹1 lakh and ₹1.30 lakh (ex showroom), Ola Electric S1 and S1 Pro may not be the most affordable electric scooters around but the company is underlining the value-for-money proposition. The company has also tied up with a number of financial institutions for loans and EMIs. Bring in subsidies at state level and these prices drop further.
But while these factors are also true for rivals, Ola Electric may have played it smart by keeping the reservation amount at ₹499. Even this amount is refundable. Purchases can be made with an advance payment of ₹20,000 and this too is refundable up until the point of dispatch from the factory to a customer's address.
Online sales platform
Ola Electric is following a direct-to-home sales model which means a prospective customer can just log on to company website or the Ola app to reserve and purchase the e-scooter.
(Also read: Full guide on how to buy Ola Electric online)
The convenience of online purchase has been well established in Covid-19 times and tend to ensure purchase decisions are not delayed owing to factors such as lack of time, traffic, prevailing weather conditions and other such scenarios that may delay a showroom visit.
Social media buzz
Ola Electric and CEO Bhavish Aggarwal have been hitting social media platforms with gusto. Name reveal, launch and other key announcements have been made on social media platforms while blog posts on the company website have further highlighted the product and the planned infrastructure support around it.
Ola Electric scooter: Performance and range
Ola Electric claims S1 and S1 Pro are the best-performing electric scooters one can buy in India. Zero to 40 kmph comes up in just three seconds while 60 kmph can be reached in five seconds if on a S1 Pro. This trim has a top speed of 115 kmph while the claimed range figure is at 180 kmph.
Even as a claimed range of 120 kmph, the S1 too has the credentials of becoming a daily commute option for many. It has a top speed of 90 kmph which should be adequate on city roads.
Then there are ride modes like Sport and Hyper that add to the ride character of the e-scooter.
Features and colours
Speakers, cruise control, hill hold control, keyless locking, reverse mode - Ola Electric has equipped its e-scooter with a host of features, many of which are not available on rival models.
There are also a number of customization options - both for the display screen and for ride sound. Then there are 10 colour options available on the S1 Pro and five on the S1.
So while the real test of Ola electric scooters will indeed be once units start doing real-world duties for respective owners, the start has been strong and it remains to be seen if Ola Electric can take the fight to not just its rivals in the e-scooter space but beyond as well.