Highlights
Ola Electric Mobility shares dropped to Rs 23.82 on March 2, reaching an all-time low as the electric two-wheeler manufacturer, led by Bhavish Aggarwal, slipped from the top five in the Indian EV scooter sector due to a dramatic decline in monthly sales.
Significant Sales Decline
According to Vahan data, Ola Electric experienced a staggering month-on-month sales decline of over 47% in February, with only 3,968 units sold. This downturn resulted in a decrease in the company’s market share, now at 3.55%. The sharp reduction in sales has led to Ola Electric exiting the ranks of the top five electric two-wheeler manufacturers for the month.
Market Overview
The electric two-wheeler market also faced a slowdown in February, with total registrations shrinking by more than 9% to 1,11,680 units, primarily due to the shorter month. TVS Motor Company upheld its leading position in the segment, recording 31,600 registrations and commanding a 28.3% market share during the month. Ola’s rival, Ather Energy, maintained its third position with 20,581 registrations, holding an 18.43% market share in February.
Financial Performance
On the financial side, Ola Electric’s revenue from operations declined to 470 crore in Q3 FY26, down from Rs 1,045 crore in the same quarter of the previous year. However, the company managed to reduce its losses by 14%, bringing them down to Rs 487 crore during this period.
At the latest trading session, Ola Electric’s shares are valued at Rs 23.92 (as of 12:40 PM). The company’s market capitalization currently stands at Rs 10,528 crore ($1.1 billion).