Ola Electric Leads In December 2022 Too, As Electric 2 Wheeler Sales Top 6 Lac For 2022

Ola Electric claims to have sold 25,000 units of electric scooters in December 2022. This figure includes undelivered units, so actual numbers are closer to a still creditable 17,000 plus, out of industry wide sales of 64,000 units. Ola Electric CEO Bhavish Aggarwal said in a blog post that his company has sold nearly 1.5 lakh e-two wheelers in 2022 and the brand is expected to turn cash positive and EBITDA positive in 2023.

The CEO also said in a tweet that Ola Electric now holds a market share of over 30 per cent in India in the electric two wheeler segment.

Aggarwal said, “If last year has shown us the true potential of India’s EV market, next year is poised to open the floodgates for EVs in the country.” He held that 2022 was the beginning of the end for the ICE age where consumers shifted towards electric two-wheelers. Ola Electric is currently offering two variants of e-scooters namely, Ola S1 Pro and Ola S1. A low-priced version, Ola S1 Air, was launched recently and can be made available in the market coming April.

He mentioned that in 2023 and 2024, Ola Electric will launch many more two wheeled EV products – a mass market scooter, a mass market motorcycle, and multiple premium motorcycles (sports, cruisers, adventure and road bikes).

Ola Electric looks to come up with its first four-wheeled EV by 2024. A total of six four wheeled EVs will be launched by 2027. It will also commission a 5 GWh lithium-ion cell-manufacturing factory by the end of this year.

Another firm with reason to celebrate was TVS Motor Company, which is currently selling its iQube range of e-scooters. It registered its highest ever monthly sales figures of 9,317 in December 2022 and is at the second spot in the retail sales list, as per VAHAN data.

Hero Electric was in the third position with 8,091 despatches.

Ather Energy, which delivered 7,646 electric scooters, was in fourth place on the sales list as per VAHAN data.

Sales at Okinawa Autotech and Greaves subsidiary Ampere continue to decline on a month-on-month basis in December. While Okinawa sold 5,279 scooters, Ampere sold 4,408 e-scooters.

Overall volumes crossed the 6 lakh number, a number that is lower than many expected at the beginning of the year. The reasons for the lower growth can be put down to stubbornly high prices, the still evolving charging infrastructure, some worries on battery safety, and of course, the recent bugbear, the withholding of subsidies to manufacturers. Let’s hope 2023 can unclog these blockages.