Ola Electric has seen a significant drop in its market share, falling from 49% in Q1 FY25 to 33% in August. This decline comes after the company had doubled its sales in FY24, reaching Rs 5,010 crore in revenue.
While Ola remains the leading player in the electric two-wheeler market, competitors like TVS and Bajaj have started to close the gap. TVS grew its share to 19%, and Bajaj reached 18% in August. Ola plans to counter this trend by launching affordable electric motorcycles by Diwali next year.