Ola Electric has announced the start of online purchases for the Ola S1 and the Ola S1 Pro from Wednesday. The two versions of the electric scooters were launched on August 15 at a price of Rs 99,999 and Rs 1,29,999 (ex-showroom, including FAME-II subsidy) respectively.
Ola S1 and S1 Pro will both be available for purchase online, and buyers will have the option to either make the full payment or choose from a selection of curated finance options. The equated monthly installments (EMIs) for S1 scooters will start from Rs 2,999 per month, Ola Electric said in a statement on Tuesday.
For this, Ola Financial Services has tied up with leading banks including IDFC First Bank, HDFC and TATA Capital. For the Ola S1 Pro, which is the advanced version of the electric scooter, the EMIs will begin from Rs 3,199. However, the EMI amount may vary depending on the duration of the loan chosen by the buyer.
As many as one lakh potential customers had paid Rs 499 as the reservation amount within 24 hours of booking order opening. They will be the first ones to get the delivery when it begins in October.
Ola S1 and S1 Pro will come with a three-year, unlimited-kilometre warranty for their battery packs.
The Ola S1 has a 2.98 kWh lithium-ion battery, while the Ola S1 Pro has a 3.97 kWh lithium-ion battery.
The warranty on the Ola S1 scooter itself is three years or 40,000 kilometres, whichever comes first.
Ola Electric has teamed up with a total of 11 banks to finance buyers of its electric scooter.
Bank of Baroda, Axis Bank, HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank will finance it.
AU Small Finance Bank, Jana Small Finance Bank, Kotak Mahindra Prime, Tata Capital and Yes Bank are also in line.
Ola Electric will adopt a digital-first approach to sales and service, and will home-deliver the S1 and S1 Pro e-scooters.
Potential buyers will soon have the option of scheduling a test ride of the S1 and S1 Pro.