December 17, 2024 | New Delhi
Ola Electric has become the first Indian EV manufacturer to achieve 4 lakh sales in a calendar year, marking a 50% year-on-year growth over CY2023. As per Vahan data, Ola’s retail sales stood at 4,00,099 units as of December 15, 2024.
Key Highlights
- Cumulative Milestone:
- Ola Electric’s cumulative retail sales have surpassed 7.75 lakh units.
- Total sales as of mid-December: 7,77,118 units – the highest for any electric two-wheeler brand in India.
- Market Leadership:
- Ola Electric leads the Indian electric two-wheeler market with a 36% market share.
- Ola Electric leads the Indian electric two-wheeler market with a 36% market share.
- Competitive Landscape:
- TVS Motor (2nd place): 2,10,066 units sold, 19% market share (iQube).
- Bajaj Auto (3rd place): 1,84,577 units sold, 17% market share (Chetak).
- Ather Energy (4th place): 1,20,721 units sold, 11% market share.
Why It Matters
Ola Electric’s milestone signifies a transformative shift in India’s electric mobility sector, reinforcing the company’s leadership in sustainable two-wheeler adoption. The strong YoY growth reflects rising consumer confidence and increasing demand for electric alternatives in the country.
