Ola Electric records all-time high registrations of over 53,000 units in March; ends FY24 with a record 115% growth over FY23

Bengaluru, April 1, 2024: Ola Electric today announced that it recorded over 53,000 registrations (as per VAHAN Portal) in the month of March, posting its highest ever monthly volumes yet again for the fifth consecutive month. The company achieved a Y-o-Y growth of 115% in FY24 over FY23 with 328,785 units registered as against 1,52,741 units in FY23.  With its outstanding performance in March, the company continued to maintain its leading market share during the month and grew by 42% Q-o-Q with 119,310 units registered during Q4 FY24 compared to 84,133 units in the previous quarter. 
 
Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Limited, said: “There couldn’t have been a better year end for us to FY24 with our registrations zooming past the 53,000 mark in March. The past year has been a momentous one for us as well as the EV industry, and we have been the market leader for the full financial year recording consistent growth in both volumes and market share. The fact that we recorded almost 1.20 lakh registrations in Q4 FY24 alone speaks volumes of our robust scooter portfolio, and we aim to continue the growth trajectory and contribute further to India’s electrification journey.”