Electric vehicles are currently high in demand, partly because the central and state governments are offering heavy subsidies. These incentives are being provided to both the manufacturer and consumer to increase sales and adoption of electric vehicles. Many new manufacturers have also cropped up into the Indian market pushing for 100% localisation.
Ola Electric Incentives
Ola Electric, too launched its electric scooters in the Indian market. The Ola S1 and Ola S1 Pro come with a price tag starting at INR 94,999 ex-showroom Maharashtra and the S1 Pro at the price of INR 124,999 ex-showroom. The state of Maharashtra offers a subsidy on electric vehicles on the ex-showroom price. The Ola S1 Pro is eligible for a maximum subsidy of INR 25,000 on the ex-showroom price.
At the time of purchase of the Ola S1 and Ola S1 Pro, the Ola App offers a subsidy of INR 5,000. Customers must claim further incentives through the Government of Maharashtra, which can be availed using the app but applied separately. Customers will need to provide additional documentation to claim the full subsidy amount. The customer can also opt out of the subsidy. Also, it is important to note that the government of Maharashtra will only provide incentives on the sales of the first 1 lakh vehicles.
State Government Incentives
The Government of Maharashtra offers a subsidy of INR 5,000/kWh but capped at INR 10,000. The state government also offers an Early Bird incentive of INR 5,000/kWh till December 2021. This makes a total maximum incentive of INR 25,000 (INR 10,000 under the standard subsidy + INR 15,000 Early Bird incentive). In addition to this, the government of Maharashtra is also offering INR 7,000 in exchange for the customer’s old petrol-powered two-wheeler, under the scrappage policy. The Ola S1 comes with a battery capacity of 2.98kWh, and the S1 Pro gets a battery pack rated to 3.97kWh. Thus both the scooters are eligible for the state government incentives.