![\"Ola](\"https:\/\/i.gadgets360cdn.com\/large\/Ola_S1X_main_1692164473489.jpg?im=FaceCrop,algorithm=dnn,width=650,height=400\"\/ "\\"Ola")
<\/div>\nIndia’s e-scooter market accounted for 5% of total two-wheeler sales in fiscal 2024.<\/p>\n<\/div>\n
Ola Electric, India’s largest electric scooter maker, reduced the price of its cheapest variant by 12.5%, it said on Monday, as the loss-making company tries to boost sales after the government reduced subsidies.<\/p>\n
Ola [OLAE.NS] cut the price of the cheapest variant of its S1X model to 69,999 rupees (about $839), from 79,999 rupees, said Anshul Khandelwal, the company’s marketing chief. The prices of other S1X variants were cut between 5.6% and 9.1%.<\/p>\n
The SoftBank Group-backed company launched the S1X scooters last August last year, just months after the government, in a surprise move, lowered the incentives to buy e-scooters. However, some analysts say the price cuts will hurt Ola.<\/p>\n
“Ola is already selling its higher variants of the S1X range at a loss. Selling the base variant at a lower price is not feasible financially and this is not something they can do forever,” said a Mumbai-based analyst, declining to be named as they are not authorised to speak to the media.<\/p>\n
The Bengaluru-based company sold 326,443 e-scooters in fiscal 2024. While it beat its target of 300,000, it had lowered that estimate by two-thirds.<\/p>\n
Despite the price cuts, Ola’s cheapest e-scooter costs more than the lowest-priced variants at TVS Motor and Hero MotoCorp-backed Ather, which cost above 100,000 rupees.<\/p>\n
However, it costs less than Honda’s Activa, India’s top-selling petrol scooter, which retails at 78,000-82,000 rupees.<\/p>\n
Ola, which started selling e-scooters in 2021, holds a 35% market share, while TVS and Ather control 19% and 12%, respectively of the market, as per government data.<\/p>\n
India’s e-scooter market accounted for 5% of total two-wheeler sales in fiscal 2024, according to industry data.<\/p>\n
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)<\/i><\/p>\n<\/div>\n