Ola Electric Technologies Pvt. recorded over 53,000 registrations in March, in line with the growing sales of electric vehicles over the last few months.
The company posted the highest-ever monthly volumes for the fifth consecutive month. Ola Electric reported a total registration of 3.29 lakh units in the financial year 2024, a growth of 115% as compared to 1.53 lakh units in fiscal 2023, according to a release on Monday.
The company maintained its market share in March, and it reported 42% quarter-on-quarter growth, with 1.19 lakh units registered in the last quarter in comparison to 84,133 units in the December quarter.
"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," Chief Marketing Officer Anshul Khandelwal said. "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."
In December, Ola Electric also filed for an initial public offering of Rs 5,500 crore with a combination of an issue of fresh new shares and an offer for sale. The Bhavish Aggrawal-founded company will offload up to Rs 4.73 crore in shares in the offer for sale. This will make the company the first pure-play EV company to list on the Indian bourses.
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