Ola Electric S1 Scooters Sale Begins Today, Starting at Rs 99,999

Bangalore-based Ola Electric Mobility is opening the purchase of its electric Ola S1 scooters from today, i.e. September 8, in two variants — S1 and S1 Pro — at Rs 99,999 and Rs 1,29,999, respectively.

The two-wheeler manufacturer launched the two new scooters (ex-showroom including FAME II subsidy and excluding state subsidies) last month. Deliveries will begin in October.

The banks and financial institutions that Ola Electric has tied up include Bank of Baroda, Axis Bank, HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, AU Small Finance Bank, Jana Small Finance Bank, Kotak Mahindra Prime, TATA Capital and YES Bank.

Among the attractive financing options the company is offering, the equated monthly instalments (EMI) starts at Rs 2,999 for S1. For Ola S1 Pro, which is the advanced version of the electric scooter, the EMIs will begin from Rs 3,199. For the vehicle insurance, the buyers can insure the scooter through the Ola and Ola Electric Apps. The company’s insurance partner is ICICI Lombard.

A base policy of ‘1-year Own Damage and 5 years Third Party’ is mandatory for registration, Ola Electric said, further noting that the buyers can also choose from other add-ons such as Personal Accident Cover, Zero Depreciation, and Roadside Assistance. The Ola S1 will come along with a warranty of three years on its battery. For the vehicle, the warranty will last for three years or up to 40,000 km of usage, whichever is earlier.

Ola Electric had opened pre-launch bookings of its electric scooters in July for Rs 499 and had received 1 lakh orders in just 24 hours but it has not disclosed how many orders it has received so far.

On August 15, the company announced its foray into the green mobility space with the launch of its first electric scooter, Ola S1.

The scooter comes in 10 colours with in-house development 8.5 KW motor and 3.97 kWh battery packs. Ola is setting up a manufacturing plant, spread across 500 acres, in Tamil Nadu.

The company had stated that it would initially start with 10 lakh annual production capacity and then scale it up to 20 lakh, in line with market demand, in the first phase.

When fully completed, Ola Electric had claimed that its plant would have an annual capacity of one crore units “that is 15 per cent of the world’s entire total two-wheeler production”.

Ola Cabs co-founder Bhavesh Aggarwal took to Twitter to announce that the company’s mobility business has also shown a strong resurgence.

“India is moving again! Our @olacabs GMV crossed pre-covid levels last week. Recovery from second wave is 3 times faster. Clearly India is up and about! (sic),” he tweeted.

“10 million people used Ola for the first time ever in FY21,” he said, adding, “Many are moving to autos taking our auto business to almost 150% of pre-covid levels.”