On Friday Ola Electric reported selling more than 25,000 vehicles during February 2025 while maintaining its 28% control of the electric two-wheeler sector.
Ola Electric recovered its position as market leader of electric 2W vehicles with a 24.91% segment share, when January arrived after a brief period in which Bajaj and TVS Motor led the market in December.
“With our strong scooter portfolio and 4,000-store network, we are seeing growing demand from Tier 3 and 4 towns. With Roadster X deliveries set to begin next month, we aim to accelerate EV adoption further,” said a company spokesperson in a stock exchange filing.
According to VAHAN data (12 PM, Friday) Bajaj stands as the leading electric two-wheeler manufacturer with 20,006 units sold whereas TVS follows with 17,603 units and Ather Energy and Greaves Electric Mobility have sold 11,129 units and 3,492 units respectively. Ola Electric currently displays 8,390 units in the latest VAHAN data but the number is expected to change before the day ends.
The Tamil Nadu-based Futurefactory and EV hub of Ola Electric along with its Battery Innovation Centre in Bengaluru served as critical growth points for the company. Ola Electric maintains the largest retail network of EVs across India through its 750 company-operated locations.
For the quarter ending in December 2024 (Q3 FY25) revenue for Ola Electric reported a 19.4% Annual Year-on-Year fall to Rs 1,045 crore. The company’s losses also 50% to Rs 564 during the period.
Several competitors including Ather and Greaves Electric plan to join the public market within the near future. Ather has achieved final regulatory approval from SEBI yet Greaves Electric received approval to issue its DRHP to the market regulator in December.
