Ola Electric ends FY24 with record 115% growth

BENGALURU: Ola Electric achieved a growth of 115 per cent (year-on-year) in FY24 over FY23 with 328,785 units registered as against 1,52,741 units in FY23, it said on Monday. The company grew by 42 per cent (quarter-on-quarter) with 119,310 units registered during Q4 FY24, compared to 84,133 units in the previous quarter.

“Crossed 50,000 for the first time, touched 53,000 registrations in March. The EV industry had a massive growth of 30 per cent in FY24 with over 9 per cent EV penetration in March,” Ola founder and chairman Bhavish Aggarwal posted on X.

With the launch of S1 X (4kWh), Ola Electric expanded its portfolio to six products (S1 Pro, S1 Air, S1 X+, S1 X - 2 kWh, 3kWh, 4kWh), ranging across different price points and catering to customers with different range requirements.