Bhavish Aggarwal-led Ola Electric has fallen behind Greaves Electric Mobility, the subsidiary of Greaves Cotton and the maker of Ampere electrical scooters, in February sales.
Ola Electric bought 3,891 electrical autos in February, dropping to the sixth spot in India electrical two-wheeler race, in keeping with retail sales knowledge sourced from the federal government’s VAHAN portal.
Compared, Greaves Electric Mobility bought 4,478 e-scooters in February, taking on fifth place.
TVS Motor Firm, the maker of iQube electrical scooters, continues to be India’s greatest electrical two-wheeler maker. It recorded sales of 30,512 e-scooters in February.
Chetak maker Bajaj Auto Ltd emerged because the second-greatest participant with sales of 24,239 electrical scooters.
New-age electrical automobile producer Ather Power clocked sales of 19,738 models in February, turning into the third-greatest e-scooter maker in India.
Hero MotoCorp, the maker of Vida electrical scooters, stood fourth in the pecking order with sales of 11,960 electrical scooters.
Within the firm’s third quarter earnings name, Ola’s Aggarwal stated that the corporate’s service-associated challenges impacted model belief, resulting in a decline in sales.
“There is a service problem. We’re fixing it. We’re fixing it and it is meaningfully bettering. We do have some journey to cowl and model belief will take its time to get well,” Aggarwal informed analysts.
As sales collapse, the loss-making EV maker can be slashing its retailer depend to change into leaner. In December 2024, Ola’s Aggarwal introduced opening of 800 shops to take the corporate’s retail community to 4,000 retailers. Lower to 2026, the beleaguered EV maker is shrinking its retail footprint.
Ola Electric’s income slipped 55% to Rs 470 crore for the third quarter whereas its internet loss narrowed to Rs 487 crore in Q3 2025-26 from Rs 564 crore in the yr-in the past interval.
Curiously, the brand new-age electrical automobile producer has additionally slashed its EBITDA break-even threshold from 25,000 models monthly till final yr to simply 15,000 models monthly going ahead. However even that quantity appears tough to realize as sales have remained beneath 10,000 models for the fourth consecutive month. “We is not going to be giving a time goal of after we will get to both 15,000 a month or larger,” stated Aggarwal.
In January, Ola Electric laid off 5% of its workforce as a part of a “structural transformation”. The layoffs are anticipated to have an effect on 620 jobs.
Ola’s has the best attrition charge amongst all its friends. In FY25, it witnessed an worker attrition charge of 54% in contrast with 44% in FY24. The EV maker additionally witnessed a slew of senior degree exits. Its chief monetary officer, Harish Abichandani, resigned with impact from January 19, 2026. The corporate’s chief expertise and product officer and chief advertising officer stop final yr. Ola Electric not too long ago appointed Deepak Rastogi as the corporate’s new CFO.
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