Ola Electric’s Biggest Season Sale: S1 Scooters Starting at ₹49,999 with Exclusive Offers

Ola Electric has launched its highly anticipated ‘Biggest Ola Season Sale,’ offering early access to its community members with special deals on the Ola S1 scooters.

CEO Bhavish Aggarwal shared the news on X (formerly Twitter), saying, “The @OlaElectric BOSS sale is now open for early access to our amazing community today! Incredible offers and exclusive benefits, including Ola S1 scooters starting at just ₹49,999! The best products, prices, and EVs are here!”

The sale offers special discounts, allowing customers to buy the Ola S1 for as low as ₹49,999. Ola Electric’s official account also emphasised the deal, saying, “BOSS has spoken, and you don’t want to miss this. 😉 Biggest Ola Season Sale. Early access for the Ola Community is valid only for today. Get the Ola S1 starting at ₹49,999.”

The company has announced that the sale offers up to ₹10,000 off on the entire S1 range, along with extra benefits worth up to ₹21,000. These include an exchange bonus of up to ₹5,000, 140+ MoveOS features valued at ₹6,000, an 8-year battery warranty worth ₹7,000, and Hypercharging credits of ₹3,000. There’s also a referral program where customers can get a ₹3,000 discount for each referral, and referees purchasing the S1 receive a ₹2,000 discount. The top 100 referrers have a chance to win rewards totalling up to ₹11,11,111. Additional discounts on accessories are also part of the sale.

It’s important to note that the ‘Biggest Ola Season Sale’ is exclusively for Ola community members today, offering a great opportunity to buy their popular electric scooters at competitive prices.

Financial Highlights

Ola Electric reported a net loss of ₹347 crore for the quarter ending June 30, 2024, marking a 30% increase compared to the same period last year. However, the company’s consolidated revenue from operations grew by 32% to ₹1,644 crore, up from ₹1,243 crore in Q1FY24, according to filings on the BSE on August 14. On a quarterly basis, the company’s net losses improved, reducing by 16% from the ₹416 crore loss reported in the March quarter.

Ola Electric achieved its highest-ever quarterly revenue in the June 2024 quarter and delivered a record 1,25,198 vehicles, compared to 70,575 in the same period last year. The company’s EBITDA loss for Q1FY25 stood at ₹205 crore, slightly lower than the ₹218 crore loss in Q1FY24. Ola Electric reported an adjusted gross margin of ₹377 crore for the June quarter, representing 21.94% of its revenue, an increase from 13.21% in the same quarter last year. Total expenses rose by 26.5% to ₹1,849 crore, with ₹1,311 crore spent on material costs and ₹123 crore on employee benefits, including salaries and ESOPs.

About Ola Electric Mobility Limited

Founded in 2017, Ola Electric Mobility Limited specialises in producing electric vehicles and essential components for them, such as battery packs, motors, and vehicle frames. All these components are manufactured at the Ola Futurefactory. The company is the largest electric scooter manufacturer in India, holding a significant market share of 31%.

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