Posted On : 22 Sep, 2021
Ola has now entered the market and it marks its huge presence in India. Ola has offered a nice e-scooter which has all possible qualities in it and giving tough competition in the market. All other competitors are in line to compete in the market. Officials said that existing players in the market are now under pressure and maintaining their prices in the current market. This two-wheeler scooter buys and sells have dominated the market at most and the flow of electric scooters has increased in the market day-by-day. India is always the hope globally and OLA pricing strategy is influenced the market environment drastically. Indian people always look low price with high quality initially the price is very low but as time passes we know that quality is a must even if we have to pay a high price.
Tarun Mehta, CEO of Ather Energy, said automotive buyers do not decide purchases "by a small price delta". The market is poised to grow and will gain traction in the next couple of years.
Naveen Munjal, MD of Hero Electric said,” "Unlike the conventional engine two-wheeler market, the EV industry is only 1% of the segment and artificially reducing prices will not help growth, but only lead to further cash burn, which isn't in the interest of any player,"
Price is now the deciding factor that will increase the profit of the companies. Electric vehicles companies like Ather, Okinawa, Pure EV, Simple Energy, and traditional two-wheeler makers such as TVS Motor Co, Hero Electric, and Bajaj Ltd are retailing e-scooters in the Rs 70,000 to Rs 1.13 lakh range, aided by state subsidies. If we see Ola motor power peak is 8.5kW where the simple vehicle has 4.5 kW so it creates the price difference. Overall, Ola is giving tough competition in the market.
Bhavish Aggarwal wrote in a blog post, “This is unprecedented not just in the automotive industry but it is one of the highest sales in a day for a single product in Indian e-commerce history! We truly are living in a digital India”.
Anjali Rattan, founder, Rattan India Enterprises said,” "We are import-dependent, and localization is currently at 50% with supply constraints.”
It is good that Ola has come with new change and we respect the positive change in India.