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Ola S1, S1 Pro Electric Scooter Sales Begin Today, Select Colour and Finance Options

As Ola Electric Scooter S1 is ready to launch in India today, here are LIVE updates. (Photo: Ola Electric)

As Ola Electric Scooter S1 is ready to launch in India today, here are LIVE updates. (Photo: Ola Electric)

Ola has tied up with leading banks and fin institutions, including HDFC, ICICI Bank, Kotak Mahindra Prime and TATA Capital, for providing loans to customers for its S1 electric scooter.

Ola Electric has initiated the purchase of its S1 and S1 Pro electric scooters from today. Existing customers who have booked the scooters ahead of the launch at Rs 499 will go the Ola’s website and select the colour options as well multiple finance options if they wish to avail a loan facility. Ola, on Monday, announced that they have tied up with leading banks and financial institutions, including HDFC Bank, ICICI Bank, Kotak Mahindra Prime and TATA Capital, for providing loans to customers for its S1 electric scooter.

Ola Electric launched the Ola S1 electric scooter in two variants — S1 and S1 Pro — at prices Rs 99,999 and Rs 1,29,999, respectively (ex-showroom including FAME II subsidy and excluding state subsidies) and said it will start deliveries in October.

People who have reserved the scooter previously can convert the bookings to purchase by paying the remaining amount and finalise vehicle variant and colour options. “Then we will start deliveries for them from October onwards. We will be doing home delivery and we will actually take the scooters to their doorsteps," said Ola Electric Chief Marketing Officer Varun Dubey.

Dubey said as consumers will be buying online the entire process is going to be “very seamless" and all those who choose financing should be able to avail of the option. “They will be able to also get all the details in terms of what is the loan approval amount they have, what they need to do…Also, we have got very attractive financing options, with the EMI starting at just Rs 2,999 for S1…," he added.

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On August 15, the company announced its foray into the green mobility space with the launch of its first electric scooter, Ola S1. The scooter comes in 10 colours with in-house development 8.5 KW motor and 3.97 kWh battery packs. Ola is setting up a manufacturing plant, spread across 500 acres, in Tamil Nadu.

The company had stated that it would initially start with 10 lakh annual production capacity and then scale it up to 20 lakh, in line with market demand, in the first phase. When fully completed, Ola Electric had claimed that its plant would have an annual capacity of one crore units “that is 15 per cent of the world’s entire total two-wheeler production".

With inputs from PTI

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first published:September 08, 2021, 09:52 IST