At first glance, the pricing of Ola Electric’s maiden offering, the Ola S1, may appear to be on the higher side to some. The Ola S1 was launched with much fanfare on 15 August at a starting price of Rs 99,999, with the more potent Ola S1 Pro costing Rs 1,29,999, a price point at which it is among the most expensive scooters on sale today. However, subsidies extended by states under their own EV policies will drive these prices down significantly, and the Ola S1 will be available for its lowest price anywhere across India, in the state of Maharashtra. Curious? Let us break it down for you.
Ola S1 price in Maharashtra
Interestingly, Ola Electric’s detailed state-wise price sheet unveiled at the time of launch took into account the subsidy provided under the older Maharashtra EV policy, which is a measly Rs 5,000, bringing the Ola S1 and S1 Pro’s price down to Rs 94,999 and Rs 1,24,999, respectively. However, the Maharashtra EV policy was recently revised to specify a substantially higher incentive for electric two-wheelers, with the base subsidy, doubled to Rs 10,000.
Additionally, for those buying an e-two-wheeler before 2021 ends, there’s also an ‘early bird’ incentive, which offers an additional incentive of up to Rs 15,000 (basis battery capacity), taking the full subsidy up to a massive Rs 25,000.
With their large lithium-ion batteries – the Ola S1 has a 2.98 kWh pack, while the S1 Pro has a 3.97 kWh pack – both variants of the Ola Electric scooter will qualify for the full Rs 25,000 incentive at present. This will mean that in Maharashtra, the Ola S1 will be priced at Rs 74,999, and the Ola S1 Pro will cost Rs 1,04,999 (both prices, ex-showroom).
Since road tax and registration charges are waived off in the state, the on-road price of the Ola S1 and S1 Pro won’t be much higher than their ex-showroom prices. And this would mean the entry-level S1 will cost less than the most basic versions of the highest-selling petrol scooters – the Honda Activa 6G, Suzuki Access and TVS Jupiter – in Maharashtra, as all these models cost more than Rs 80,000 on-road, with better-equipped versions costing closer to Rs 90,000.
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The Ola S1 Pro, on the other hand, will cost about the same as some premium 125 cc scooters such as the Honda Grazia, Suzuki Burgman Street and will cost less than the Aprilia SXR 125. The clincher, for many buyers, may be the Ola’s performance, 150 km real-world range and lengthy features list, which includes goodies never seen before on any scooter.
Do bear in mind that the early bird incentive is only meant for the first 10,000 e-two-wheeler buyers in the state and may be withdrawn once that target is met, be it by 31 December, 2021, or earlier.
However, even once the early bird incentive is withdrawn, prices of the Ola electric scooters in Maharashtra will only rise by Rs 15,000, so the Ola S1’s price at the start of 2022 will still be Rs 89,999, and the Ola S1 Pro will go for around Rs 1,09,999; keeping both positioned closer to petrol scooters that continue to witness sustained high demand.
It’s also worth noting that Ola’s scooters, regardless of the early bird incentive, will cost less than established rivals from Ather Energy, the 450 Plus and 450X.