Ola Electric’s market share increases to 25.8% in January

Ola Electric noticed its market share improve by six share factors to 25.8% in January from a month in the past promoting 24,335 autos, in keeping with Vahan information. Nonetheless, this stays lower than half of the Bengaluru-based firm’s complete market share of 53.6% in April final 12 months.The decline in share comes amid rising competitors within the electrical two-wheeler house, regulatory run-ins, and mounting buyer complaints.

Ola Electrical faces competitors from TVS Motor, Bajaj Auto, and IPO-bound Ather Power, which collectively account for round 90% of the electrical two-wheeler market.

On January 11, the Central Shopper Safety Authority (CCPA) sought additional documents from Ola Electric as a part of an ongoing investigation, following a show-cause discover issued on October 8, 2024, over alleged client rights violations, deceptive ads, and unfair commerce practices.

Individually, the Securities and Trade Board of India (Sebi) recently warned the company for breaching disclosure rules after CEO Bhavish Aggarwal introduced growth plans on social media earlier than notifying inventory exchanges.

Together with this, the corporate is grappling with top-level administration exits and social media criticism over car high quality and after-sales help.

On December 27, chief expertise and product officer Suvonil Chatterjee and chief advertising and marketing officer Anshul Khandelwal resigned, including to a collection of senior govt departures throughout Ola Electrical, synthetic intelligence enterprise Krutrim, and ride-hailing platform Ola Cabs.In October, a public spat erupted between Aggarwal and comedian Kunal Kamra, who raised considerations on X (previously Twitter) about Ola’s scooter high quality, sharing a picture of a number of EVs parked at an Ola service centre.

Ola Electrical has been increasing its retailer and repair community whereas launching new scooter fashions with extra options tailor-made to totally different client segments.

The corporate just lately elevated its retailer and repair centre rely to 4,000 from 800 in November 2024 and introduced its third generation (Gen 3) electric scooter portfolio with effectivity and energy upgrades on January 31.

Previous to this, it additionally launched two new fashions—the S1 Z and Gig—concentrating on gig financial system employees and budget-conscious consumers. Moreover, Ola Electrical plans to roll out the MoveOS 5 beta replace beginning mid-February, bringing options like a smartwatch app, good park, highway journey mode powered by Ola Maps, reside location sharing, and emergency SOS.

Throughout its second-quarter earnings name, Aggarwal outlined plans to launch 20 new merchandise throughout two-wheeler and three-wheeler classes over the subsequent two years, with no less than one new launch per quarter.

Shares of Ola Electrical closed at Rs 74.2 apiece on the BSE on Saturday, down 0.6% from the earlier shut.