Results · Mobility & Logistics

Ola Electric market share drops to under 6%

By Startup Enthusiast · 27 January 2026

What they do

Ola Electric makes electric scooters, motorcycles, three-wheelers and home energy products

Its market share fell to 5.87% in January 2026 from 24.8% a year ago amid customer complaints and safety concerns

Competitors TVS Motor, Bajaj Auto and Ather Energy gained share; Ather Energy surpassed Ola Electric in market cap

Ola Electric's market share in the electric two-wheeler (E2W) segment fell to 5.87% in January 2026, down from 24.8% a year earlier.
The company's overall market share from January 2025 to January 2026 was 14.9%, with about 2.04 lakh units registered.
In 2024, Ola Electric registered 4.07 lakh units and held a market share of 35.47%.
The decline began after January 2025, driven by customer complaints, product defects, safety concerns and weak service.
Ola Electric's market share dropped to 11.31% in February 2025, recovered to 21.42% in April 2025, then fell to 7.16% in November 2025.
In January 2026, Ola Electric registered only 5,488 units.
The company's stock hit an all-time low of Rs 30.79 on 27 January 2026, down from its listing price of Rs 75.
Ola Electric's market capitalisation stood at Rs 14,115 crore (about $1.56 billion).

Competitors gained share: TVS Motor held 23.75% overall share (Jan 2025–Jan 2026), Bajaj Auto had 21.05%, and Ather Energy rose to 18.16% in January 2026.
Ather Energy sold 2.18 lakh units in 2025, up 72% from 1.26 lakh in 2024, and surpassed Ola Electric in market cap (Rs 23,712 crore) and Q2 FY26 revenue (Rs 899 crore).
Ola Electric's stock surged to about Rs 150 soon after its August 2024 listing but has since fallen sharply.

Ola Electric manufactures electric scooters (S1 Pro Sport, S1 Pro+, S1 X+, S1 Z, S1 Air, S1 X, S1), motorcycles (Roadster X, Roadster X+, Roadster, Roadster Pro), three-wheelers (Shakti, Shakti Rack, Mahashakti, Ola Shakti) and home energy products (Ola Shakti home UPS, MPPT solar charge controller).
Scooter prices range from Rs 39,999 (S1 Gig) to Rs 1,58,371 (S1 Pro+).
Motorcycle prices range from Rs 1,04,999 (Roadster X) to Rs 1,99,999 (Roadster Pro).
Three-wheeler prices start at Rs 39,999 (Ola Shakti) and go up to Rs 1,74,999 (Shakti Rack).
Home energy products include the Ola Shakti home UPS (4.6 kWh at Rs 99,999 introductory, 9.2 kWh at Rs 1,74,999 introductory) and MPPT solar charge controller (3 kW & 6 kW, Rs 39,999).
The company uses 4680 Bharat Cell (LFP) in the S1 X+ 5.2 kWh variant, offering a range of 320 km.
Ola Electric has 590 service centres and plans to make 1 lakh third-party mechanics EV-ready, with AI-powered proactive maintenance and remote diagnostics.
It offers an EMI calculator with tenure up to 60 months, lowest rate 6.99%, downpayment from Rs 0, and zero processing fee.
An upgrade program is live across India, with a same-day service guarantee.