In response to an inquiry from the Automotive Research Association of India (ARAI) on the S1 X 2 kWh scooters' pricing strategy, Ola Electric stated in a stock exchange filing that the scooters' prices remained unchanged throughout their major BOSS sale event.

Prior to the launch of its flagship sale last week, ARAI sent a notification to the Bengaluru-based company over their pricing methods for the S1 X 2 kWh model.

The model was reduced in price to Rs 49,999 during the sale, and the S1 series came with extra perks worth up to Rs 25,000.

According to Ola Electric, it is having a short-lived festive campaign wherein all customers will receive a basic discount of Rs 5,000 and a select few would receive a larger discount of Rs 25,000.

Ola Electric supplied a screenshot from its app verifying the scooter's constant price as well as an invoice dated October 6th that showed a Rs 5,000 discount offered to consumers. The Rs 25,000 discount was limited to a specific inventory, it was further said.

During the current holiday season, Ola Electric has seen an increase in its market share. Data from the government-run Vahan vehicle registration portal shows that by mid-October, the company had sold 17,417 electric two-wheelers, gaining a 34.9percent market share compared to last month's 28.7percent.

This month, Bajaj Auto, TVS Motor, and Ather Energy are three more significant companies in India's electric two-wheeler market, holding market shares of 22.9percent, 21.8percent, and 11.5 percent, respectively.

Ola credited its growing service network and the success of its S1 scooter range for the increase in market share. The company wants to keep up this trend during the Diwali celebrations.

Ola Electric's shares ended Tuesday's trading session on the BSE at Rs 89.5.