Ola Electric may often find itself in the midst of controversies very often but it is one of the highest selling electric two-wheeler manufacturers in the country. The Bengaluru-based EV manufacturing startup has set a new milestone as it has become the first company in India to sell 4 lakh electric two-wheelers in a calendar year.
According to a recent report by Autocar Professional, Ola Electric has recorded retail sales of 400,099 units in 2024. This data has reportedly been corroborated from the Vahan portal till 15 December 2024. This has resulted in an impressive 50% YoY jump in sales over the previous calendar year, translating into an additional 132,371 units.
Ola Electric leads the way
Ola Electric has emerged as a dominant player in the Indian EV market, surpassing 775,000 cumulative retail sales since its launch in December 2021. This impressive figure, primarily achieved in 2024, positions Ola as the leading e2W OEM in India with a 30% market share of the 2.62 million electric two-wheelers sold in the country during this period.
Sales for Ola Electric commenced from December 2021.Vahan-sourced data reveals that in its inaugural year (CY2022), Ola’s sales reached 109,401 units, outperforming the combined sales of Ather Energy (51,808 units) and TVS Motor Co (47,812 units). Till the first half of December, the company has sold a total of 777,118 battery-powered two-wheelers.
Ola Electric currently commands the largest share in the electric two-wheeler market of 36% followed by TVS with 19% share and Bajaj Auto with a share of 17%. TVS has sold 2,10,66 units of the iQube e-scooter whereas Bajaj has sold 1,84,577 units of the Chetak till date. Ather Energy stands fourth in the list with a market share of 11% and 1,20,721 electric scooters sold.
