
Ola Electric, the top manufacturer of electric two-wheelers in the nation, has reduced the cost of its S1 electric scooter series by up to Rs.25,000. The company sells S1 X+, S1 Air and S1 Pro.
The price drop comes after the reduction in battery cell pricing in international markets. About 40% of the price of an electric vehicle (EV) depends on the battery.
Industry analysts told India Today that battery cell prices may fall more in the future, resulting in significant price cut for EVs.
Bhavish Aggarwal, Founder and CEO of Ola Electric, took to X, formerly known as Twitter, and said, said: “You asked, we delivered! We are reducing our prices by up to Rs 25,000 starting today for the month of February for all of you! Breaking all barriers to #EndICEage.”
You asked, we delivered! We’re reducing our prices by upto ₹25,000 starting today for the month of Feb for all of you!! Breaking all barriers to #EndICEage!
Valentine’s Day gift for all our customers 🙂❤️🇮🇳 pic.twitter.com/oKFAVzAWsC
— Bhavish Aggarwal (@bhash) February 16, 2024
Check out the price update (ex-showroom) below:
Model | New Price | Old Price | Difference |
Ola S1 X+ | Rs 84,999 | Rs 1,09,999 | Rs 25,000 |
Ola S1 Air | Rs 1,04,999 | Rs 1,19,999 | Rs 15,000 |
Ola S1 Pro | Rs 1,29,999 | Rs 1,47,499 | Rs 17,500 |
Ola Electric first unveiled the S1 X model on August 15 last year along with four more electric bike variants set to be released by the end of 2024. When asked about the status of the electric motorcycles, Aggarwal just replied they will be available “soon”