Ola Electric's market share in the electric two-wheeler segment fell to 27% in September, down from 32% in August and 39% in July. The company also hit an 11-month low in sales, delivering only 23,965 units.
Competitors Bajaj Auto, TVS Motors, Ather Energy, and Hero MotoCorp followed closely behind. The decline is linked to rising customer complaints, software issues, and hardware malfunctions. Despite a slight revenue growth of 2.8% in Q1 FY25, Ola Electric’s share price dropped below Rs 100 for the first time since its August IPO.