Ola Electric launches S1 X variant, extends warranty for all products

Ola Electric, the ride-hailing giant turned electric vehicle (EV) maker, is making waves in the Indian market with a slew of announcements targeting wider adoption and customer concerns. Here's a breakdown of their latest moves:

New 4kWh S1 X Variant:

● Expanding its S1 X scooter range, Ola introduces a 4kWh variant priced at Rs 109,999.

● This fills the gap between the 2kWh (Rs 79,999) and 3kWh (Rs 89,999) options, offering more choice to budget-conscious buyers.

● Deliveries start in April 2024, competing with rivals like Hero Vida V1 Pro (priced at Rs 1.45 lakh) and TVS iQube Electric (starting at Rs 99,990).

Extended Warranty for All Scooters:

● Addressing range anxiety and ownership concerns, Ola doubles the warranty to 80,000 kms or 8 years (from 40,000 kms or 3 years).

● This is offered at no extra cost and is transferable.

● Users can further extend the warranty up to 1,25,000 kms for an additional charge.

Boosting Charging Infrastructure:

● Aiming to address charging network concerns, Ola plans to set up 10,000 fast-charging points by next quarter, up from the current 1,000.

● They will also offer portable fast chargers for Rs 29,999 with home installation services.

Expanding Service Network:

● Recognizing the need for accessible service options, Ola will increase its service center network from 400 to 600 by April 2024.

● This move aims to reduce service wait times and improve customer satisfaction.

Addressing Key Concerns:

● Founder Bhavish Aggarwal acknowledges concerns about service infrastructure and battery range as key barriers to EV adoption.

● The company's announcements directly target these concerns by expanding options, providing peace of mind through extended warranties, and improving accessibility.

Electric Bike and Gigafactory Updates:

● While providing no specific launch date, Aggarwal assures the electric bike launch is "soon."

● Construction of the company's gigafactory is on track for completion by this quarter, but no further details are shared.

Preparing for a Subsidy-Free Future:

● Recognizing the possibility of FAME subsidy being tapered off or ending, Ola is preparing its business model for a subsidy-free environment.

Ola Electric's latest announcements showcase their commitment to addressing key customer concerns and expanding their offerings to cater to a wider audience. With the new variant, extended warranty, and network improvements, they aim to solidify their position as a leader in the Indian EV market. However, the success of these initiatives will depend on their execution and the company's ability to meet its ambitious timelines. The launch of their electric bikes and the progress of their gigafactory will also be crucial factors to watch in the coming months.