Ola Electric Mobility has now decided to open the purchase of its electric Ola S1 scooters from September 8.
Coincidentally, September 8 is also celebrated as World EV Day and it is marked to promote the switch from fossil fuel-based to electric vehicles as the latter is environment-friendly.
The equated monthly installments (EMIs) for S1 scooters will start as low as Rs 2,999 per month, Ola Electric had said in a statement.
“If you need financing, OFS (Ola Financial Services) has tied up with leading banks including IDFC First Bank, HDFC, and TATA Capital to help finance your Ola S1,” it said.
The EMIs for Ola S1 Pro will begin from Rs 3,199, it said.
Customers can get pre-approved loans from HDFC Bank in minutes on the Ola and Ola Electric apps, the company said, adding that TATA Capital and IDFC First Bank will help in digital KYC and give instant loan approvals to eligible customers.
“In case you don’t need financing you can simply pay an advance of Rs 20,000 for Ola S1 or Rs 25,000 for Ola S1 Pro, and the rest when we invoice your scooter to you,” the statement read.
Ola S1 and S1 Pro deliveries will start from October 2021, Ola Electric said, adding that the test rides will start from the same month. Customers can also opt for cancelling orders post test rides, only if the scooters have not been shipped for delivery from the Ola Factory.
Customers can also insure the scooter through the Ola and Ola Electric apps. The company’s insurance partner is ICICI Lombard.
The company said that there is a base policy of ‘1-year Own Damage and 5 years Third Party’ which is mandatory for registration. Also, buyers can opt for other add-ons such as Personal Accident Cover, Zero Depreciation, and Roadside Assistance.
The Ola S1 comes with a warranty of three years on its battery and the vehicle warranty will be for three years or up to 40,000 km of usage, whichever is earlier.
In a Twitter post, Ola Cabs co-founder Bhavesh Aggarwal said, “India is moving again! Our @olacabs GMV crossed pre-covid levels last week. Recovery from the second wave is 3 times faster. Clearly India is up and about! (sic).”