Ola Electric S1 e-scooters worth ₹600 crore sold in a single day

Ola Electric has reported a mammoth response to its decision to open purchase window for its S1 and S1 Pro range of electric scooters. CEO Bhavish Aggarwal took to Twitter to announce that Ola Electric had sold e-scooters worth ₹600 crore in a day since Wednesday when the purchase window was opened online.

Ola Electric and Aggarwal had announced on Wednesday night that the company was selling four units of its e-scooters every seconds since the purchase window was opened. Aggarwal had further added that the units could soon be sold out. (Read more here)

On Thursday, Aggarwal in a blog post highlighted how the single-day sales volumes, in value terms, was ‘more than what the entire 2W industry sells in a day.’

Ola Electric has managed to generate a big buzz around its debut product and has been underlining its range, features, performance and other specifications.

The Ola S1 has a price of ₹1 lakh while the more capable S1 Pro is priced at ₹1.30 lakh. These prices are ex showroom and will vary from state to state depending on subsidies on offer.

The Ola S1 has a stated range of around 120 kms while the S1 Pro has a range of around 180 kms. There also are other differences between the two trims like more colour options available on the S1 Pro - 10 in all, higher top speed of 115 kmph and a bigger battery pack.

Ola Electric is following a direct-to-home sales model and has no physical stores. Test rides and deliveries of units are scheduled to start from October and Ola Electric has also tied up with a number of financial institutions to offer loans and EMIs. The company further states that the booking amount and any advance paid are refundable till the time the unit is shipped from its factory in Tamil Nadu to a customer's address.

There is much that is also happening at the Ola Electric factory. Called Futurefactory, the facility is expected to be the largest in the world for e-scooters and will employ 10,000 women which would also make it the largest factory to be operated only by women.

Running at full capacity, the Ola Futurefactory is expected to roll out two million units each year. The facility will be the center from where units are rolled out for the domestic market as well as for markets overseas.