The company, which is planning to go public with an IPO, maintained its top spot in the electric vehicle (EV) two-wheeler market, grabbing a big share of 42%. This is a big achievement for the company, which is backed by SoftBank. Compared to last year, Ola Electric saw almost double the growth, showing a surge in demand.
Over the past three months, Ola Electric has seen a total of nearly 100,000 registrations. In December, it made headlines by becoming the first EV two-wheeler manufacturer to hit 30,000 registrations in a single month. The company faces competition from other players like Ather, Bajaj, Ampere, Hero MotoCorp, and TVS Motor Company in the market.
Anshul Khandelwal, the chief marketing officer at Ola Electric Technologies Private Limited, expressed confidence in the company's growth and market dominance. He mentioned their focus on offering top-notch products and building a robust EV infrastructure.
Moreover, Ola Electric aims to tackle one of the biggest challenges in EV adoption by increasing the lifespan of its vehicles. They plan to achieve this by doubling the lifespan compared to traditional ICE vehicles. Additionally, the company is expanding its service network across the country by 50 percent by April 2024, further enhancing customer support and accessibility.
