Shares of Ola Electric Mobility surged 8.5% on Monday after founder and chairman Bhavish Aggarwal unveiled an aggressive strategy to recapture market share and improve profitability in India’s competitive electric two-wheeler market.
The stock hit an intraday high of ₹44.73, though it remains nearly 72% below its 52-week peak of ₹157.53 touched in August 2024. In contrast, the scrip has shed 69% over the past year and is down 48% in 2025 year-to-date, underscoring investor caution despite the latest rebound.
Targeting 30% market share with new products
Aggarwal, speaking to Moneycontrol, said Ola Electric is eyeing a 25–30% market share in India’s two-wheeler EV segment, supported by vertical integration, technology upgrades, and product expansion.
“Our target market share for two-wheeler EVs is about 25–30 percent with very high margins, so we believe we are on the trajectory again,” he said. “Ola’s mojo is still there.”
The company’s market share stood at 17.35% in July 2025, down sharply from 38.83% in the same month last year. Registrations too halved to 17,848 units from 41,802 units in July 2024.
Transition phase: Gen 2 exit, Gen 3 ramp-up
Over the past six months, Ola Electric phased out its Gen 2 scooters, ramped up supplies of its Gen 3 lineup, and launched its first electric bike.
“It’s been two quarters of transition. Along with product transition, we’ve had a distribution scale-up. You’ll now see, leading into the festive season, the market share volumes (will) start inching upwards,” Aggarwal said.
He stressed that profitability in EVs requires more than scale.
“No one is making money. To make money with EVs, you need vertical integration, you need the technology development, you need the DNA of technology,” he added.
Battery milestone ahead of festive season
On August 15, Ola Electric announced the integration of its indigenously developed 4680 battery cell into two of its flagship models – the S1 Pro Plus electric scooter and the Roadster X Plus motorcycle. Deliveries are scheduled to begin during Navaratri, starting September 22.
“We will start deliveries this Navaratri, this is a big milestone for us. Everything inside our scooter is now homegrown,” Aggarwal noted.
Q1 FY26 results: Wider YoY loss, sequential recovery
Despite the upbeat outlook, Ola Electric’s financial performance remains under pressure. For the June quarter of FY26, the company reported a wider consolidated net loss of ₹428 crore, compared to ₹347 crore in the year-ago period.
However, losses narrowed sequentially from ₹870 crore in the March 2025 quarter, suggesting improving cost discipline.
Revenue from operations came in at ₹828 crore, down nearly 50% year-on-year from ₹1,644 crore as competition intensified. Sequentially though, revenue rose from ₹611 crore in Q4 FY25, reflecting initial traction from new product launches.
