In a regulatory statement on 25 March, Ola Electric Technologies Private Limited, a division of Ola Electric Mobility Limited, stated that it had settled its financial disagreements with the Rosmerta Group and that as a result, insolvency proceedings had been withdrawn against it. Earlier insolvency filings against Ola Electric Technologies were filed by the Rosmerta Group, which cited unpaid debts. According to earlier media reports, Rosmerta Digital Services demanded payment of slightly over INR 22 crore (about $2.5 million) in unpaid debts, while Rosmerta Safety Systems requested payments of almost INR 2.5 crore. The National Company Law Tribunal (NCLT) in Bengaluru received a request from Rosmerta to withdraw its insolvency proceedings after Ola Electric declared on March 25 that all outstanding debts had been resolved amicably. The business underlined its dedication to keeping solid business ties and making sure that any commercial concerns are promptly resolved.
Ola Clarifying the Mismatch of Data
This decision was made in the midst of Ola Electric’s operational optimisation efforts. Ola Electric also claimed that discussions with its vehicle registration vendors were the cause of a discrepancy in February between government registration data and sales data supplied by the company. The government has requested details on the issue, but the corporation claims that the backlog caused by the data mismatch has been resolved. According to the corporation, its sales are still strong, and the brief backlog in February was brought on by continuous discussions with our partners that handle vehicle registrations. With daily registrations surpassing 50% of its three-month daily sales average, this backlog is being quickly cleared. By the end of March 2025, the remaining backlog will be completely resolved, with almost 40% of the February backlog already cleared. On March 24, the shares of Ola Electric Mobility Limited closed at INR 55.72 per share. Ola Electric’s shares are down roughly 27% since listing in August, however they have somewhat recovered from a record low since it notified investors of the insolvency petition.
Over 1,000 Workers are Let go by Ola Electric
According to a media agency, Ola Electric Mobility Ltd., under the leadership of Bhavish Aggarwal, is laying off over 1,000 staff and contract workers in an attempt to reduce the company’s growing losses. As the electric two-wheeler (2W) manufacturer goes through a significant reorganisation, the employment cutbacks impact several departments, including procurement, fulfilment, customer relations, and charging infrastructure. In less than five months, this is the company’s second round of layoffs. About 500 workers were let go by Ola Electric in November 2024, and the most recent round of layoffs represents more than 25% of the company’s 4,000-person employment as of March 2024. However, since they are not included in the company’s formal disclosures, contract workers are not included in this statistic.
In response to recent media coverage of their February 2025 sales numbers, Ola Electric denied any regulatory concerns and provided explanation on what it refers to as a temporary registration bottleneck. The company stated in a statement issued on March 21 that it is working to alleviate the backlog that resulted in disparities in vehicle registration data and that sales are still high. Ola claims that this backlog is being cleared up and that it was not brought on by any internal operational problems. The company’s daily registration numbers have now surpassed 50% of its typical daily revenues over the last three months. According to the most recent information, 40% of the backlog from February has already been cleared, and Ola Electric anticipates that the problem will be fixed completely by the end of March 2025.
Ola Claims Current Situation has been Misrepresented
Additionally, Ola Electric claimed that some “vested interests” and media outlets had distorted the situation as a regulatory matter. In a press release, the company defined the backlash as a “coordinated effort to create confusion and trigger unnecessary scrutiny.” This escalated after the company terminated contracts with two nationwide vendors that were in charge of its registration process as part of Ola Electric’s strategy to streamline operations and drive profitability. The business reaffirmed its dedication to effectively clearing the backlog and upholding openness with clients and authorities.
Tough Time for Ola Electric
According to a media agency, Ola Electric Mobility Ltd., under the leadership of Bhavish Aggarwal, is laying off over 1,000 staff and contract workers in an attempt to reduce the company’s growing losses. As the electric two-wheeler (2W) manufacturer goes through a significant reorganisation, the employment cutbacks impact several departments, including procurement, fulfilment, customer relations, and charging infrastructure. In less than five months, this is the company’s second round of layoffs. About 500 workers were let go by Ola Electric in November 2024, and the most recent round of layoffs represents more than 25% of the company’s 4,000-person employment as of March 2024. However, since they are not included in the company’s formal disclosures, contract workers are not included in this statistic.
A representative for the company told the media outlet that Ola had automated front-end processes to boost customer satisfaction, cut expenses, and increase margins while removing unnecessary positions to increase efficiency. They did not; however, state how many employees were impacted. The layoffs occur as Ola Electric, which is supported by SoftBank, faces several difficulties. In the December 2024 quarter, the company’s net loss increased to INR 564 crore from INR 376 crore in the same period the year before. The business has also had to contend with increasing competition, which has caused it to lose its top spot as India’s largest seller of electric scooters. According to government data from December 2024, TVS Motor Co. and Bajaj Auto Ltd. both surpassed Ola Electric as the market leaders. Ola Electric argues that it is still a major player in spite of these failures. The business recorded sales of more than 25,000 units in February 2025, gaining a 28% market share. Aggarwal had set a monthly sales goal of 50,000 units to reach breakeven in earnings before interest, tax, depreciation, and amortisation (EBITDA), but this is well below that amount.
To make matters worse, Ola Electric Mobility has apparently received a notice from the Ministry of Heavy Industries (MHI) for not fulfilling its obligations under the National Programme on Advanced Chemistry Cell (ACC) Battery Storage PLI program. In addition to Ola, the notifications were also sent to Reliance and Rajesh Exports, two other businesses that benefitted from the battery PLI scheme. Ola Electric would be penalised INR 12.5 lakh per day beginning January 1, 2025, until it fulfils its obligations under the PLI scheme, according to a media report. ACC Energy Storage, which bid as Rajesh Exports, and Reliance New Energy Limited (RNEL), owned by Mukesh Ambani, will pay INR 5 lakh every day.
Response from Ola Electric
A representative for Ola Electric responded to the notice by saying that its purpose is to encourage businesses to meet the PLI program’s battery manufacturing goals as soon as possible. According to a senior official quoted in a media report, “The scheme’s goal is not to collect penalties.” The official did add, though, that the businesses are free to argue their case and request a waiver of this rule. Ola Electric has previously declared that it will start producing its cells commercially in Q1 of FY26, and the company is on track to satisfy the deadlines. Under the government’s ACC PLI program, Ola Electric will be the first company in India to produce lithium-ion cells on a commercial basis.
What is PLI Scheme?
With an INR 18,100 Cr budgeted investment, the PLI Scheme seeks to increase indigenous battery manufacturing capacity and lessen dependency on imports. In addition to the incentives, the MHI offered the companies capacities through the PLI Program. Ola Electric agreed to produce advanced chemistry cells for EVs under the ACC PLI project in 2022. The plan prioritises indigenous value addition and global competitiveness in battery manufacture, with a goal manufacturing capacity of 50 GWh. It is important to remember that Ola Electric has benefitted from other government programs like PM E-Drive and FAME-II, which mandate that businesses maintain service centres and offer warranties.
Trouble Continues for Ola Electric
In addition to the aforementioned incident, a media outlet also reported that Ola Electric’s Roadster X is still delaying delivery due to unresolved technical concerns and the ongoing homologation process. Bhavish Aggarwal stated at the bike introduction that the initial plan was for the bike series to start by mid-March 2025. This comes shortly after MHI began to investigate the business for service-related problems, including multiple customer complaints about delayed deliveries, faulty cars, and subpar customer support.
According to a media agency, Ola Electric Mobility Ltd., under the leadership of Bhavish Aggarwal, is laying off over 1,000 staff and contract workers in an attempt to reduce the company’s growing losses. As the electric two-wheeler (2W) manufacturer goes through a significant reorganisation, the employment cutbacks impact several departments, including procurement, fulfilment, customer relations, and charging infrastructure. In less than five months, this is the company’s second round of layoffs. About 500 workers were let go by Ola Electric in November 2024, and the most recent round of layoffs represents more than 25% of the company’s 4,000-person employment as of March 2024. However, since they are not included in the company’s formal disclosures, contract workers are not included in this statistic.
Ola Grappling with Multiple Challenges
A representative for the company told the media outlet that Ola had automated front-end processes to boost customer satisfaction, cut expenses, and increase margins while removing unnecessary positions to increase efficiency. They did not, however, state how many employees were impacted. The layoffs occur as Ola Electric, which is supported by SoftBank, faces several difficulties. In the December 2024 quarter, the company’s net loss increased to INR 564 crore from INR 376 crore in the same period the year before. The business has also had to contend with increasing competition, which has caused it to lose its top spot as India’s largest seller of electric scooters. According to government data from December 2024, TVS Motor Co. and Bajaj Auto Ltd. both surpassed Ola Electric as the market leaders. Ola Electric argues that it is still a major player in spite of these failures. The business recorded sales of more than 25,000 units in February 2025, gaining a 28% market share. Aggarwal had set a monthly sales goal of 50,000 units to reach breakeven in earnings before interest, tax, depreciation, and amortisation (EBITDA), but this is well below that amount.
Revamping Plans
In order to reduce expenses, Ola is reorganising its delivery and logistics plans and automating some of its customer service functions. At its showrooms and service centres, workers in sales, service, and warehouse positions are also being let go. To solve issues with accessibility and service, Ola Electric opened 3,200 retail locations nationwide in December 2024 as part of an ambitious expansion. This action was taken in response to a spike in consumer complaints about poor product and service quality. According to some sources, up to 80,000 complaints were sent to Ola Electric each month. Delays in the supply chain have also been a problem for the business. In an effort to reduce expenses and increase efficiency, it renegotiated contracts with two significant vendors earlier this year, alerting investors that this will have an impact on vehicle registrations in February 2025.
With the introduction of the Roadster X series, Ola Electric, the industry leader for electric two-wheelers, has made its foray into the electric motorcycle sector. Five different models are in the lineup, and the starting price is INR 74,999. The Roadster series will start to be delivered in the middle of March. The firm has repeatedly hinted at the arrival of its electric motorcycles.
With this new addition, Ola hopes to increase its market share in India’s expanding electric vehicle (EV) sector, where electric two-wheelers are becoming more popular as a result of government incentives and rising gasoline prices. Motorcycles are crucial to India’s mobility scene, according to Bhavish Aggarwal, chairman and managing director of Ola Electric.
Ola Electric is spearheading the EV revolution with its electric bikes. Its futuristic Roadster range of motorcycles is poised to further accelerate EV adoption and establish electric as the preferred option for all Indian riders.
Ola Electric’s Dominance in the EV Domain
Ola Electric‘s market share increased from 19% in December to 30% at the end of January, as per Vahan data. With models like Revolt Motors’ RV400 and RV300, Ultraviolette Automotive’s F77 series, Tork Motors’ Kratos and Kratos R, and Oben Electric’s Hop Oxo, among others, Ola Electric is now directly competing with other companies in the young but expanding Indian electric motorcycle market.
Expanding Portfolio of Ola Electric
The Roadster X costs INR 74,999 for the 2.5kWh, INR 84,999 for the 3.5kWh, and INR 94,999 for the 4.5kWh models. The Roadster X+ costs INR 1,04,999 and INR 1,54,999 and comes with 4.5 kWh and 9.1 kWh battery options. Every model has a three-year, 50,000-kilometre warranty.
The range of EVs offered by Ola Electric has been constantly growing. The business debuted its Gen 3 scooters, which included the S1 Pro+ and S1 X range, before the Roadster X series. With detachable battery options, Ola also introduced its Gig and S1 Z scooter series, aimed at both personal and business users. With assistance from its Battery Centre in Bengaluru, Ola Electric has been working on EV and battery technology development at its Tamil Nadu plant.
By manufacturing EV parts and battery cells internally, the company has concentrated on vertical integration. Ola has a direct-to-consumer sales approach and runs more than 800 outlets around India.
When will the Roadster X Series hit the market?
It is anticipated that delivery of the Roadster X series would start in mid-March 2025. The motorcycles will be sold for the aforementioned rates, and all models come with a basic guarantee of three years and fifty thousand km.
The Roadster X series, Ola Electric’s foray into the electric motorcycle market, is a critical turning point in the company’s efforts to transform India’s transportation scene. Ola Electric claims that it wants to transform the way Indian motorcycle users experience motorbikes by offering a variety of cutting-edge features, high-performance models, and affordable pricing, thereby making EV adoption more than just a fad but a common alternative for the future.
Ola Cabs is India’s largest mobility platform growing into a worldwide perspective. It has a strong friendly global presence as rides are hauled around nearly every continent.
Ola Cabs is driven by the mission to provide sound transport solutions to the billion Indians through technology, connecting users and well-fit drivers in various vehicles from cars to auto-rickshaws to bikes. They came to be running in India and more than 250 cities, with businesses previously in Australia, New Zealand, and the UK now concentrated only in India.
The app offers on-demand rides in a super-large fleet of more than 1.5 million driver-partners lined up to earn income and make mobility easy and efficient for millions of its users. It has a variety of vehicles such as motorcycles, scooters, autorickshaws, bicycles, tempos, and so on that you can book on the app. Ola puts a premium on safety and provides emergency alerts and live ride tracking.
Founded in December 2010 by Bhavish Aggarwal and Ankit Bhati, Ola Cabs originated out of Bhavish’s frustrating interlude with an unreliable taxi driver, leading to the eventual venture of creating some sort of reliable and user-friendly transportation service in India. Mumbai was Ola’s first big step in revolutionizing mobility through technology by connecting passengers and drivers on a mobile app. Moving quickly, the company turned out to be a general support system with over 100 cities under its belt by 2014 and a network of over 200,000 cars. Eventually, diversification took place within services, bringing auto-rickshaws and bike taxis only in 2015, while as of 2017, the launch of Ola Electric has been made to tend to sustainable transportation.
Currently, Ola operates across more than 250 Indian cities and in select international markets such as Australia or New Zealand and links 1.5 million driver-partners with consumers, offering transportation service overall with bikes, auto-rickshaws, and cabs also being others. Other than ride-hailing, Ola diversified into food delivery, financial services, and electric mobility to make a value-adding integrated ecosystem. Valued at about $7.3 billion, Ola was privileged to remain valuable into the later part of 2021 and remains committed to bringing reliable and accessible mobility solutions to a billion people and becoming a global leader in ride-hailing.
To ensure compatibility between both drivers and customers, the business model created by Ola is a user-friendly mobile application that enables them to be connected. The business model uses technology and real-time data effectively to connect riders and drivers in proximity, making booking seamless and fast. By using such a service, users download the Ola app, create an account, input destination and pickup locations, and avail of either Ola Micro, Ola, Mini, or Ola Share trips depending on what suits them. Another thing it does is show details about the driver: his name, picture, vehicle details, and estimated arrival time – and adds further convenience through real-time tracking.
Ola adds some service enhancements to foster an enriched customer experience, offering facilities for hourly or full-day bookings through Ola Rentals designed for some shopping expeditions or a business tour, and Ola Outstation which is designed for travel between cities. But Ola Share saves a decent amount on their pockets and allows them to enjoy eco-friendly and pocket-friendly travel by sharing rides with other ride-takers. Ola Auto is thus the only other award system for short distances. With multiple payment options available, the company allows customers to pay through cash, cards, and digital wallets ensuring safety and ease of transactions over the Internet. The competitive position of Ola in the transport sector has improved through advancements in technology.
The business of Ola rests in making trips easy through commissions calculated on a group of 15%-20% for each ride. The commission rates differ depending on location and type of ride. The charges are built around base fares, distance, waiting time, and inflated rates during peak hours. Another source of revenue is Ola Money, a digital wallet that allows people to book rides without money. Transaction fees from its source of revenue accompany this unique product. Ola also has cab leasing services for drivers who cannot buy their vehicles at leasing charges and commissions from rides.
Ola tries to expand revenue by tying up with big sources for discounted services of transportation for their employees, and hence it is increasing usage through that route: revenue in the form of advertising, which means more in-app promotions of products to the right users at the right time and near the right place. For regular Ola users, there are subscription services in the form of Ola Select, which gives them certain premium service benefits like the first preference in booking a cab and a “no-surge pricing” wherein they pay a certain monthly amount. Eventually, Ola has extended its revenue by venturing into segments of the food and liquor delivery business, such as Ola Foods and Ola Dash, to take full advantage of the scale of the platform to open up entirely new markets.
OLA’s Financial Performance
Operating Revenue for Ola Cabs From Financial Year 2018 to 2023
OLA Unique Selling Proposition
Ola Cabs has successfully provided a fine solution that suits both the passengers as well as the driver-partners in a perfect balance that includes price and convenience, quality, and ensuring value for each end. The passengers have ensured competitive pricing, real-time ride tracking, multiple vehicle options, and innovative seamless cashless payments like Ola Money. The Ola Play and flexible booking options, all the benefits from Ola Select membership programs, and various other improvements enriched the overall Ola-powered experience offered to any customer. All this is climate entertainment hosted in the cab in addition to those facilities with added benefits for Ola Play, flexible booking options, and Ola Select. They also reach the overall customer experience with 24/7 customer help and qualified drivers who partly worry-free and partially trust the client.
Ola, on another note, offers flexible work hours to driver-partners where they earn commission out of great interaction points with clients, have daily settlements, and receive leasing and servicing services or training programs. This is not commercially accepted in terms of business and efficacy. Rather, Ola is all about joining people to diverse services as a whole. Its main selling focus is safety, convenience, and reliability through the application of technology in several services offered. Ola is the only player to address the needs of both riders and drivers, which means that the Ola product is a complete and reliable mobility answer to use against its valued competitors in its large-growing ride-hailing industry.
OLA SWOT Analysis
Strengths
Market Leadership: Practically Ola has established itself to be the leading personal transfer service in India, strongly positioned in the market, as evidenced in its very wide reach, particularly in Tier 2 and 3 cities median.
Diversification Services: Ola offers the following services-footing, nautical auto rickshaw, and bicycle motorbike. Ola presents to every heterogeneous customer.
Successful Help With Diversification: Ola has thus far forayed into areas like the production of electrical chariots, or rather through Ola Electric, which can further drive growth besides led sustainability engagements.
Dynamic Pricing: It is part of the company’s strategies for optimizing revenue during a peak time, where the model of dynamic pricing plays a vital role in the transformation process of supply and demand management.
High Integration of Technology: A robust mobile application for Ola provides a very pleasant user experience with a lot of facilities like real-time live tracking, multiple payment facilities, and in-app it also has a fun-filled entertainment called Ola Play.
Weaknesses
High Driver Turnover: Ola faces issues with driver churn as a result of their working conditions and earnings, negatively influencing the quality of their services.
Service Quality Issues: As a result of customer complaints regarding the behavior of the drivers, the company’s reputation can be damaged with inconsistency in satisfactory service and a resultant increase in customer turnover.
Financial Burden on Drivers: There tends to be high discontentment and attrition since the business model exerts enormous financial stress on the driver partners.
Opportunities
New Markets: Ola has the opportunity to expand its services both internationally and into underserved domestic markets, especially in Tier 2 and Tier 3 cities where public transportation options are limited.
Internet Adoption on the rise: The increasing internet access in remote areas also allows Ola to reach new customer segments.
Partnerships: Additionally, as the demand for eco-friendly transportation solutions rises globally, investing more in electric vehicles can help Ola establish itself as a leader in sustainable mobility. Furthermore, forming partnerships with other sectors, such as food delivery, can create new growth and diversification opportunities.
Ola Electric Vehicles
Threats
Tough Competition: Ola goes head-to-head with other ride-hailing companies like Uber, which could have an impact on its market share and ability to make money.
Rules and Red Tape: Problems like not renewing licenses in important markets (for example, London) put Ola’s day-to-day business and plans to grow at risk.
Money Matters: When the economy takes a nosedive or long-lasting effects from things like the COVID-19 outbreak happen, they can shake up how many people want to use ride-hailing services.
Conclusion
Ola Cabs has successfully merged technology with the focus on the customer, leading to a very comprehensive ride-hailing platform. The convenience and accessibility that this company offers its passengers are enabled by linking the passengers and the drivers through an easy-to-use app. The company generates revenues from a range of sources: a 15-20% commission on every ride, varied ride options ranging from auto-rickshaws to electric vehicles, and fees from its digital wallet, Ola Money.
In addition, the cab-leasing program expands the driver network for Ola, while in-app advertising and corporate partnerships are additional revenue sources. These selling points for Ola are affordability, flexible working hours for drivers, and ease of features like real-time tracking and multiple payment methods. As the company expands to new areas such as food delivery and grocery logistics, it sets it up for long-term growth. By embracing the market trends that it naturally exploits, Ola has possibly met the needs of both the passenger and the driver.
The founders of Ola Cabs are Ankit Bhati and Bhavish Aggarwal.
How does Ola Cabs operate?
It operates on an aggregator model, where it partners with independent drivers and fleet owners rather than owning cars itself.
What is Ola’s primary source of revenue?
Ola earns money by charging a commission on each ride booked through its platform. This commission varies based on factors like location, ride demand, and driver incentives.
The manufacture of Ola Electric’s “Roadster” electric bike, which the business unveiled in August of last year, has begun. Ola would like to notify its consumers that the firm has begun the assembly line of its future bike today, January 20, 2025, according to an exchange filing. Bhavish Aggarwal, the founder and CEO of Ola Electric, uploaded a video on X of himself riding the new electric bike at the company’s facility a day later on January 21. “Excited after riding the @OlaElectric Roadster!” was his caption for the video. I can’t wait for everyone to have this experience! In the footage, Aggarwal and a pillion rider were seen speeding through the company’s plant’s hallways. The company also displayed the electric bike at the Bharat Mobility Expo 2025 earlier this month, along with its other products, the Ola Gig and Ola S1 Z. Production has started more than five months after the listed firm unveiled “The Roadster Series” at its annual event on Independence Day last year.
Future Roadmap of Ola Electric
With prices starting at INR 74,999, the business announced the release of three new motorcycles under the Roadster X, Roadster, and Roadster Pro series. The bike in the video is probably a Roadster, which has a 13 kW maximum motor output and is available with 3.5 kWh, 4.5 kWh, or 6 kWh of battery. With a top speed of 126 km/h and a range of 248 km, the Roadster variant will cost between INR 1,04,999 and INR 1,39,999. When introducing its line of e-bikes, Ola Electric stated that the Roadster X and Roadster would start to be delivered in Q4 of FY25. The development coincides with the EV major’s recent months-long efforts to put out fires on several fronts. The Central Consumer Protection Authority (CCPA) is now investigating Ola Electric for alleged service and delivery delays, sales of defective vehicles, and other customer complaints.
Ola Electric Navigating Through Troubled Waters
The plea to revoke the CCPA’s notice was denied by the Karnataka High Court (HC) earlier this month. In addition, earlier this month, SEBI, the market watchdog, slapped the original equipment manufacturer (OEM) for breaking disclosure guidelines. Ola Electric’s stock has been declining as a result of the negative media coverage. The year-to-date (YTD) decline in the company’s shares is above 11%. The company led by Bhavish Aggarwal was able to reduce its consolidated net loss from INR 524 Cr in the previous quarter to INR 495 Cr in Q2 FY25, a 5.5% decrease. In the meantime, operational revenue increased by over 39% to INR 1,214 Cr in the reviewed quarter from INR 873 Cr in the second quarter of FY24. On the BSE, Ola Electric’s shares closed Tuesday’s trading session 0.2% lower at INR 76.24.
Ola Electric, a manufacturer of two-wheeler electric vehicles (EVs), has received an administrative warning from the Securities and Exchange Board of India (SEBI) for breaking its rules. Ola Electric is facing charges for using social media to reveal important details about a planned shop network expansion before first alerting the stock exchanges. According to the current regulations, listed companies must notify stock exchanges of all material information as soon as possible, but no later than “twelve hours from the occurrence of the event or information.” Bhavish Aggarwal, the founder, chairman, and managing director of the electric vehicle manufacturer, released the information about the planned expansion about four hours prior to the firm sharing the data with the exchanges, according to Ola Electric’s filing with the exchange. In its warning letter to the company, SEBI noted that although the aforementioned information was released on the stock exchanges by Ola Electric at 1:36 PM (BSE) and 1:41 PM (NSE) on December 2, 2024, it was first announced on X (formerly Twitter) at 9:58 AM on the same day by Bhavish Aggarwal, the company’s promoter and Chairman-cum-Managing Director.
Ola Electric Falling to Provide Information to all Investors
The company was also found guilty by the markets authority of not giving all investors the information in a way that was “equal and timely.” The listed EV manufacturer “failed to take into consideration the interest” of all of its stakeholders, SEBI further noted. In its notice to the company, the regulator stated that Ola Electric had violated Regulations 4(1)(d), 4(1)(f), 4(1)(h), and 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. SEBI “warned and advised” the company to be “careful in the future” and to enhance its compliance standards to prevent recurrence of similar occurrences, while acknowledging that it took the violations “very seriously.” Additionally, it warned of “enforcement action” should such incidents recur and instructed the corporation to take corrective action. This comes one week after Pritam Das Mohapatra was named the new compliance officer and corporate secretary by the EV manufacturer. He is in charge of monitoring Ola Electric’s adherence to SEBI regulations and the current governance structure.
More Trouble for Ola Electric
The aforementioned warning was sent on the same day that the Karnataka High Court denied Ola Electric’s request to have a notice from the Central Consumer Protection Authority (CCPA) on charges of unfair practices, deceptive advertising, and suspected violations of consumer rights revoked. The HC granted some mercy and gave the EV manufacturer a six-week postponement to reply to the consumer protection watchdog’s show-cause notice, even though the CCPA notice demanded Ola Electric to submit new papers.
There has been a dramatic change in the competitive landscape of India’s two-wheeler electric vehicle (EV) market, with Bajaj Auto surpassing Ola Electric in December 2024 to become the dominant competitor. The government’s Vahan portal reports that Bajaj Auto’s market share in the two-wheeler electric vehicle segment increased by 3% in December 2024, hitting 25% from 22% in November. The market share of Ola Electric, on the other hand, dropped 5% from 24% to 19% in the past month.
Sales for Ola Electric fell from 29,196 units in November to 13,769 units in December, resulting in a decrease in market share from 24.7% to 18.78%. Regardless, the company maintained its position as the leader in annual sales, capturing 35.5% of the market for the year thanks to robust sales in March and July. Total sales for the corporation fell from 119,654 units in November to 73,316 units in December, marking a decrease from the previous month.
Other Players’s Performance in this Sector
Ather Energy’s market share increased by 3% in December from 11% in November, following Bajaj’s 3% gain. The market share of Hero MotoCorp fell sharply by 5% in December, from 6% in November, while that of TVS Auto was steady at 23%. The two-wheeler electric scooter market is seeing greater competition as businesses like TVS and Bajaj introduce more inexpensive and sophisticated models, putting Bhavish Aggarwal’s Ola Electric to the test. To tackle the severe competition, Ola Electric has planned that by April of 2025, it will be launching its own electric scooter batteries.
Every Player Floating New Ideas to Expand their Growth
Bajaj Auto has unveiled a new platform that boasts cutting-edge tech features and a 45% reduction in costs, both of which are projected to boost the company’s profit margins. With the I-Qube electric scooter, TVS Auto has increased its reach from 250 to 4,000 retailers, thereby expanding its reach. Important EV markets in North India, including Gujarat and Maharashtra, have been driving growth for Ather Energy.
Ola Reaches a Milestone of 4,000 Stores
Ola Electric announced on 26 December that it now has 4,000 stores nationwide, a four-fold increase from the 800 stores that were previously disclosed on December 2 of this month. In less than a month, the firm reported adding 3,200 additional stores to its current network.
The corporation stated that it was dedicated to promoting widespread EV adoption, which would allow for wider penetration into practically every town and tehsil in India, going beyond tier-1 and tier-2 cities. The business has now fulfilled its promise. Bhavish Aggarwal, chairman and managing director of Ola Electric, stated that this is a major turning point in India’s EV journey as the company extends its network to every city, town, and taluk.
Aggarwal added that Ola has entirely redesigned the EV buying and ownership experience with its recently launched stores that are also service centres, setting new standards with its “SavingsWalaScooter” campaign.
Ola Electric announced on 26 December that it now has 4,000 stores nationwide, a four-fold increase from the 800 stores that were previously disclosed on December 2 of this month. In less than a month, the firm reported adding 3,200 additional stores to its current network.
The corporation stated that it was dedicated to promoting widespread EV adoption, which would allow for wider penetration into practically every town and tehsil in India, going beyond tier-1 and tier-2 cities. The business has now fulfilled its promise. Bhavish Aggarwal, chairman and managing director of Ola Electric, stated that today is a major turning point in India’s EV journey as the company extends its network to every city, town, and taluk.
Aggarwal added that Ola has entirely redesigned the EV buying and ownership experience with its recently launched stores that are also service centres, setting new standards with its “SavingsWalaScooter” campaign.
New Offers and Benefits Rolled Out by Ola
Ola Electric has launched promotions with advantages up to INR 25,000 on the S1 portfolio, which will only be accessible on December 25, 2024, to commemorate the network’s expansion. Consumers can receive a flat discount of up to INR 7,000 on the S1 X portfolio by visiting the closest newly opened Ola Store. Customers can also take advantage of other perks up to INR 18,000, such as INR 5,000 on certain credit card EMIs and INR 6,000 on MoveOS benefits.
Introducing the Ola S1 Pro Sona Limited Edition
According to the firm, the Ola S1 Pro Sona was also introduced with genuine 24-karat gold-plated components to commemorate the significant network development. The immersive “Sona Mood,” which includes a personalised MoveOS dashboard, a gold-themed Ola app interface, and an enhanced riding experience, is included with Ola Sona. By customising riding modes and settings on the dashboard, consumers can improve their travel experiences.
Additionally, the business is now accepting priority registrations for its MoveOS 5 beta software platform, which offers features aimed at improving the whole riding experience. Features like group navigation, real-time position sharing, and road trip mode enabled by Ola maps are now available to Ola riders. These features also include TPMS (tyre pressure monitoring system) alarms, smart charging, and smart parks.
Ola Gig, Ola Gig+, Ola S1 Z, and Ola S1 Z+ are the scooters in the company’s new Gig and S1 Z series. They are priced at INR 39,999 (ex-showroom), INR 49,999 (ex-showroom), INR 59,999 (ex-showroom), and INR 64,999 (ex-showroom), respectively.
With features like detachable batteries, the new line of scooters provides versatile and reasonably priced options to meet the needs of rural, semi-urban, and urban consumers for both personal and business purposes. Delivery of the Gig and S1 Z series will start in April 2025 and May 2025, respectively, and reservations are available for INR 499.
Additionally, Ola Electric provides a wide range of S1 products at different pricing points to meet the needs of different types of customers. The mass market offerings include the S1 X portfolio (2 kWh, 3 kWh, and 4 kWh) priced at INR 74,999, INR 87,999, and INR 101,999, respectively, while the premium offerings, S1 Pro and S1 Air, are priced at INR 134,999 and INR 107,499, respectively.
