Ola Electric: 25,000 Units Sold in February 2025
Ola Electric has successfully sold over 25,000 units in February 2025, which confirms its impressive 28% market share in the electric two-wheeler segment.
Market Leadership and Current Data
In January, Ola Electric re-established its position at the top of the electric two-wheeler market with a market share of 24.91%. The company, led by Bhavish Aggarwal, managed to regain its lead after being surpassed by Bajaj and TVS Motor in December.
Growing Demand Across Regions
A spokesperson for the company mentioned that the robust scooter portfolio and the extensive network of 4,000 stores are fueling demand from Tier 3 and Tier 4 towns. With the upcoming launch of Roadster X deliveries scheduled for next month, the objective is to further boost electric vehicle adoption.
Sales Performance of Competitors
According to the latest VAHAN data as of Friday at 12 PM, Bajaj has recorded sales of 20,006 units, while TVS has sold 17,603 units. Additionally, Ather Energy reported sales of 11,129 units and Greaves Electric Mobility accounted for 3,492 units. Current numbers for Ola Electric show 8,390 units, with updates anticipated by the day’s end.
Strategic Improvements in Registration Process
In a recent strategic move, Ola Electric has renegotiated contracts with vehicle registration agencies. The company indicated that this could temporarily impact numbers on the VAHAN portal but aims to lower costs and enhance the registration process.
Infrastructure and Innovation
The company’s Futurefactory and Electric Vehicle hub located in Tamil Nadu significantly contributed to its expansion, along with the Battery Innovation Centre (BIC) situated in Bengaluru. With more than 750 stores owned by the company, Ola Electric asserts that it possesses the largest electric vehicle retail network in India.
Financial Performance Overview
In the quarter ending December 2024 (Q3 FY25), Ola Electric experienced a revenue decline of 19.4% year-on-year, amounting to Rs 1,045 crore. Additionally, the company’s losses increased by 50%, registering Rs 564 during this time frame.
Upcoming Market Competitors
Ola Electric faces competition as Ather and Greaves Electric are poised to enter the public market soon. Ather has already received final approval from SEBI, while Greaves, the parent company of Ampere, submitted its Draft Red Herring Prospectus (DRHP) to the market regulator in December.