Ola Electric

Subterms

    More stories

    • 200 Shares169 Views

      in Bike

      Ola Electric Scooter Market Share vs Bajaj, TVS – Declines From 58% to 36% in 2024

      by

      Ola Electric CY24 Sales Vs TVS iQube & Bajaj ChetakOnce the dominant force in the Indian electric scooter segment, Ola Electric has lost significant market share to rival brands like Bajaj Chetak and TVS Motor. The Bengaluru-based electric mobility provider seems to have had a ‘flew too close to the sun’ moment as the roaring and dominant sales have been dulled down significantly.
      While Ola is still the highest-selling 2W EV manufacturer, it is not the dominant force anymore. Rivals like Bajaj and TVS have come a long way and they are poised to surpass Ola’s figures and take over any time now. Their share price has also hit an all time low of Rs 64.6 on 28th Jan, which comes after the company launched 4,000 physical stores across India. In this post, we will analyse Ola’s sales performance across CY24 and see just how much downfall Ola has had when compared to Bajaj and TVS.
      Ola Electric CY24 Sales Vs TVS iQube & Bajaj Chetak
      Ola Electric CY24 Sales
      If we take CY24 (Jan 2024 to Dec 2024), we can see how Ola has been losing market share with time. Ola kick-started CY24 with a 58.33% share (within this trio) in Q1 2024 which used to be close to three times more than Bajaj and TVS at 19.36% and 22.31%, respectively. By the end of CY2024, that number was reduced to 35.74%, while Bajaj was at 32.74% and TVS at 31.52%. In Q1 2024, Ola sold 1,19,418 units and accounted for 58.33% of sales within this trio. At the same time, Bajaj managed 39,628 units and TVS managed to sell 45,680 units. In Q2 2024, Ola sold 1,07,641 units, losing 11,777 units QoQ and the percentage share dropped to 54.46%. In Q2 2024, we can see that Bajaj and TVS showed QoQ growth and increased their percentage share among this trio.
      This trio managed to clock a total of 4,02,374 units in H1 2024. Breaking the numbers, 2,27,059 units were from Ola, 80,482 from Bajaj and 94,833 from TVS. In Q3 2024, Ola’s sales were reduced to 93,820 units, losing 13,821 units QoQ and accounted for 39.42% of sales within this trio, down from 54.46%.
      Ola Electric has consistently lost market share to Bajaj and TVS in 2024
      Lowest numbers in Dec 2024 for Ola
      At the same time, Bajaj and TVS showed significant growth as they sold 70,387 and 73,774 units respectively. Bajaj registered 29,533 units volume growth QoQ, while it was 24,621 for TVS. Bajaj’s percentage share grew from 20.67% to 29.58%, while TVS’ grew from 24.87% to 31% QoQ.
      The results got a lot more interesting in Q4 2024 as Ola registered its worst-ever sales of CY24 in December 2024 at just 13,771 units. Ola’s sales took a downfall from 93,820 units in Q3 2024 to 84,626 units in Q4 2024, losing 9,194 units in volume QoQ. At the same time, Bajaj and TVS sold 77,524 and 74,635 units respectively, registering positive growth QoQ.
      In H2 2024, Ola, Bajaj and TVS managed to sell 4,74,766 electric scooters, up from 4,02,374 units in H1 2024. However, the impressive heavy lifting is done by Bajaj and TVS, while Ola has registered a massive decline in sales. Breaking the numbers, Ola sold 1,78,446 units, Bajaj 1,47,911 units and 1,48,409 units by TVS in H2 2024.
      The numbers still place Ola at the top spot with 33,792 units monthly average in CY24, while it was 19,033 for Bajaj and 20,270 for TVS. However, that might change in CY25, with Bajaj and TVS likely to take off further in sales, leaving Ola behind, considering its sales pattern. More

    • 138 Shares99 Views

      in Bike

      Ola New Electric Scooter Teased With Removable Battery – Launch Soon

      by

      Ola New Electric Scooter TeasedTop speed on this particular model might be low, as Ola’s electric 2W CV with removable battery is aimed at last-mile mobility sector
      India’s electric 2W market has been tilted towards eScooters that offer flexibility of being unisex in their approach. However, last-mile mobility sector is also a major market for electric 2W manufacturers. Looking at an opportunity, India’s leading electric 2W vehicle manufacturer, Ola Electric, is coming up with their maiden CV.
      Ola New Electric Scooter
      Earlier this year, patents of Ola’s swappable battery module design patent leaked on the interet, suggesting the company is investing into swappable battery tech. Later on, design patents of Ola’s maiden commercial 2W EV leaked too, showing where that swappable battery could debut. Now, Ola has officially teased their maiden CV and is set to launch soon.
      After conquering the 2W electric PV segment, Ola Electric is making massive advances into 2W electric CVs as well. After a couple of leaked patent designs, the company has teased their first-ever commercial vehicle. From what we can see in these teasers, Ola is aiming at last-mile mobility segment.
      The teasers resonate with what we saw with leaked design patents of this upcoming scooter. Overall appearance is that of a slightly premium commercial vehicle, especially when compared to what is already available in this segment. Design is fairly minimal and gets a utilitarian approach.
      Ola New Electric Scooter Teased
      We can see what looks like a sturdy frame finished in a Red shade. There are protective side guards protruding from this frame. There appears to be a flat floorboard, allowing users to carry payload here. Rider footpegs are simple units seen on either sides. Pillion footpegs seem to be absent as this scooter looks like a single-seater.
      Where a pillion seat should have been, there is a luggage area, used to increase payload carrying capacity. This scooter has minimal bodywork too, to keep costs down. Features like digital instrument cluster, LED headlights are expected.
      Swappable Battery!
      The main takeaway from these teasers is that Ola Electric has confirmed that this upcoming electric 2W CV will have their maiden swappable battery pack. Or, removable battery, if you may. This could allow Ola to offer battery as a rental service (BaaS), thus getting the price point low and competitive. The exact specifications of this battery pack is not yet known.
      Ola New Electric Scooter Teased
      From the looks of it, this upcoming Ola new electric scooter has provision for one swappable battery pack and some storage beside it. There may be a dual-battery variant in the future. There is a hub motor in rear wheel for propulsion and twin shock absorbers for load carrying capacity. Slowly, Ola could implement removable battery tech in their PVs too. More

    • 138 Shares169 Views

      in Bike

      Ola Electric Shares Clarification With The BSE Regarding BOSS Sale Discounts

      by

      Ola Electric Scooter outside a service outletOla Electric, facing increased regulatory scrutiny over its recent BOSS sale discounts, has clarified its position in a formal response to the Bombay Stock Exchange (BSE)
      Ola Electric share price has seen a massive drop recently, raising concerns regarding its pricing strategy, particularly for the S1 X 2kWh model. From a peak of Rs 157 in August, Ola Electric share price was at Rs 87.46 at the end of trading day on 14th October.
      Ola Electric ‘BOSS’ Discounts
      Following reduced sales and complaints of flawed after sales service, Ola Electric is now resorting to the ‘BOSS’ offer to cash in on festive buying. The S1 X 2kWh model is being presented at Rs 49,999 which is lower than the ex-factory price. This according to ARAI was done without them being informed in advance.
      Ola Electric Scooter At Rs 50k
      ARAI has hence asked Ola Electric to offer more clarity on this significantly reduced pricing. Failure to give any satisfactory reasons, the company could lose the subsidies which are being offered under PM Electric DRIVE Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme, which recently replaced FAME-II. The company also faces strong action in terms of widespread consumer complaints, compounding this issue even further.
      Called BOSS (Biggest Ola Season Sale), the Ola Electric S1 X 2kWh model is being offered at Rs 49,999. This is a Rs 25,000 discount on actual pricing of Rs 75,001. Failure to inform ARAI about this new pricing policy prior to announcing the ‘BOSS’ promotional scheme is what has resulted in this questioning.
      ARAI now seeks clarity on this new price reduction and Ola Electric could face lawsuits if found guilty of violating regulatory guidelines. Ola Electric could also face the risk of losing financial benefits under the new subsidy scheme while Ministry of Heavy Industries (MHI) has also asked ARAI to confirm if Ola Electric is conforming to warranty terms and conditions and maintenance of service centers.
      Ola Electric’s Clarification
      Ola Electric has now provided clarification on the issue following inquiries from the Automotive Research Association of India (ARAI). Ola Electric received an email from ARAI on October 8, 2024, seeking confirmation about whether the S1 X 2kWh was being sold at the discounted price of Rs 49,999. In response, Ola Electric clarified that:
      The company has not permanently changed the price of the S1 X 2kWh model. The reduced price is part of a limited-time festive campaign, offering a general discount of Rs 5,000 to all customers, while a Rs 25,000 discount was applied only to select customers with limited inventory available.
      Supporting documents, including an invoice dated October 6, 2024, and a screenshot from their app, were provided to ARAI as evidence of this selective pricing. Additionally, Ola Electric noted that they had promptly supplied further documentation upon request from ARAI on October 9, 2024. To date, they have not received any further communication from the regulatory body.
      Addressing Stock Price Volatility
      Ola Electric also addressed the recent movement in its share price, clarifying that they are not aware of any undisclosed information that could explain the fluctuation. The company assured that all material events and information required under SEBI’s Listing Obligations and Disclosure Requirements have been duly disclosed to the relevant stock exchanges. Ola emphasized that the media report on the regulatory scrutiny has had no material impact on the company’s overall operations or financial health.
      Ola Electric Fall from Glory – Piling Complaints, Lawsuits, Falling Share Price
      Ola Electric, even as it is currently the top selling electric 2W maker in India, with a 27% market share as of September 2024 ended the month in the red. The company reported a 10.31% MoM de-growth. Sales fell to 24,679 units in the past month with competitors Bajaj, TVS and Ather all witnessing increased demand.
      Sales of Ola Electric have been fast dwindling as consumer issues mount. A series of complaints pour in with regard to deliveries substandard performance, service delays, documentation and mileage issues etc., with the National Consumer Helpline portal receiving nearly 10,000+ complaints to date. The complaints which pile in have even termed Ola service centers as ‘graveyards of electric scooters’ on social media. CCPA has also sought a response from Ola Electric within 15 days.
      Following these concerns and falling of share price to Rs 87.34, down 44.48% from a record high of Rs 157.53, on August 20, 2024, Ola Electric has promised stringent measures. Among these remedial measures are expansion of service networks by the end of this calendar year. AI relation maintenance program with Move OS 5 and augmented training to service personnel along with Hyper Service facilities and 1 day fix are also some of these measures being adopted. More

    • 88 Shares99 Views

      in Bike

      Document Exposes Consumer Complaints Against Ola Electric

      by

      Ola Electric Scooter ComplaintsHeavy Industries Ministry has sent letter to ARAI seeking more clarification into the complaints of Ola Electric scooters
      Ola Electric Mobility Ltd. is facing growing regulatory scrutiny as the Central Consumer Protection Authority (CCPA) has issued a show-cause notice in response to widespread consumer complaints. The notice comes amid allegations of service deficiencies, misleading advertisements, and unfair trade practices, pushing the company to respond within 15 days with supporting documentation.
      Grievances Unveiled
      A leaked document reveals the scale and nature of the consumer complaints that have been lodged against Ola Electric. Some of the key issues include:
      Ola Electric Scooter Complaints. Image – Alisha Sachdev
      – Charging during free service period/warranty – 109 complaints– Charging extra than promised – 91 complaints– Customer requests not entertained by dealer/service centers – 117 complaints– Improper customer/helpline services – 67 complaints– Delays in new vehicle delivery – 1,899 complaints– Delays in service/repair – 3,364 complaints– Delays in providing vehicle documents – 244 complaints– Fake insurance/documents provided by dealers – 21 complaints– Mileage not as per commitment – 28 complaints– Misbehaviour by dealer/company – 52 complaints– Misleading advertisements – 34 complaints– Non/partial refunds on booking cancellations – 270 complaints– Unfulfilled promised gifts – 111 complaints– Promised services not provided – 1,459 complaints– Same problem persisting after repairs – 471 complaints– Sale of second-hand/test-drive vehicles as new – 34 complaints– Unsatisfactory redressal of complaints – 672 complaints– Manufacturing defects in vehicles – 761 complaints– False promises and misleading information about vehicles – 144 complaints
      In addition to these, there are over 10,000 complaints registered in total.
      Mounting Pressure and Market Share Worries
      Analysts have pointed out that Ola Electric’s market share is under increasing pressure as competition in the electric two-wheeler segment intensifies. The company’s reputation has been shaken by these complaints, which could lead to further challenges in maintaining market leadership. According to insiders, this wave of negative publicity could affect consumer confidence in the brand, making it crucial for the company to resolve the issues swiftly.
      Ministry of Heavy Industries Investigates Service Complaints
      In a parallel development, the Union Ministry of Heavy Industries has launched an investigation into the service-related issues raised by Ola Electric customers. The ministry has sent a letter to the Automotive Research Association of India (ARAI), seeking clarification and inputs regarding the complaints filed.
      The ministry also emphasized that, as per the FAME-II and PM E-Drive schemes, all original equipment manufacturers (OEMs), including Ola Electric, are required to maintain service centers and provide warranties. Ola Electric, being a beneficiary of these schemes, has been asked to provide detailed comments and address the grievances at the earliest.
      Analyst Insights: Tough Times Ahead for Ola Electric
      With the combined pressure from the CCPA and the Ministry of Heavy Industries, industry analysts predict challenging times ahead for Ola Electric. The company’s ability to manage the situation and provide satisfactory responses will be crucial in determining its future market position. Ola Electric is trading at Rs 91 on the NSE, down 5%. More

    • 125 Shares119 Views

      in Bike

      Ola Electric Faces Show Cause Notice Amid Consumer Complaints Surge

      by

      Ola Electric Scooter outside a service outletThe Central Consumer Protection Authority (CCPA) has issued a show cause notice to Ola Electric after a significant increase in consumer complaints regarding its e-scooters
      The notice, dated October 3, flags potential violations of the Consumer Protection Act, 2019, citing service deficiencies, misleading advertisements, unfair trade practices, and consumer rights violations. Ola Electric has been directed to respond within 15 days.
      Over 10,000 Complaints Lodged Against Ola Electric
      The National Consumer Helpline (NCH) registered 10,644 complaints between September 1, 2023, and August 30, 2024. Service delays for e-scooters accounted for 3,389 of these complaints, while 1,899 consumers reported delayed vehicle deliveries. Another 1,459 complaints involved unfulfilled service promises. Additional issues included manufacturing defects, improper refunds, recurring defects, and battery-related malfunctions.
      Ola Electric acknowledges the show cause notice
      Ola Electric acknowledges the show cause notice
      Nidhi Khare, Secretary of the Department of Consumer Affairs, confirmed that the CCPA is actively looking into the complaints and urged Ola Electric to resolve these issues promptly. National Consumer Helpline can be contacted via phone (1800-11-4000 , 1915), eMail (nch-ca@gov.in), website (https://consumerhelpline.gov.in), Google Play Store App, etc.
      National Consumer Helpline
      National Consumer Helpline
      Ola Electric Stock Takes a Hit
      On Monday, Ola Electric’s stock dropped nearly 9%, reaching an intra-day low of Rs 90.26. The company’s shares, which debuted on August 9, have since fallen 74% from their peak of Rs 157.40. In Q1 FY25, Ola Electric reported a consolidated net loss of Rs 347 crore, despite a 32.3% year-on-year revenue growth. The company raised Rs 6,154 crore through its IPO, which had initially seen strong investor interest with a 4.27 times subscription rate.
      Ola Electric share price – October 7, 2024.
      Twitter Users Voice Frustration Over Delayed Action
      The news of the CCPA’s show cause notice prompted strong reactions on social media. One Twitter user expressed frustration over the delayed response from consumer authorities, writing, “Don’t know why National Consumer Helpline has to wait for 10k+ complaints to act. When will they learn to be proactive n give some value and respect to the Indian consumer? It’s because of the lackadaisical attitude of these offices that corporates feel emboldened to sideline consumers.”
      Bhavish Aggarwal’s Social Media Spat Sparks Backlash
      This notice comes a day after Ola Electric CEO Bhavish Aggarwal’s feud with comedian Kunal Kamra on Sunday. Kamra posted a picture of Ola scooters gathering dust outside a dealership, which prompted Aggarwal to accuse him of being paid to criticize the company.
      The argument escalated on X (formerly Twitter), where Aggarwal deflected criticism of the company’s service issues and invited Kamra to work at an Ola service center. Aggarwal’s failure to acknowledge the rising consumer complaints added fuel to the online backlash, especially in light of reports that Ola Electric is receiving up to 80,000 complaints per month. More

    • 138 Shares119 Views

      in Bike

      Public Spat – Shares Go Ola, Bye-Bye. But Big on Hokum

      by

      Photo Credit – Ashok Shrivastav. Ola scooter service centre – Before, After.Tweeting Triumphs: Big Headlines!
      It starts with a tweet. And you respond. While engagement generated by a public spat may be appealing to some, the lack of accountability in these interactions is evident. Especially if its unfunny. Some believe they are above critique and could respond in ways that reflect a need to control the narrative. Defensiveness and confrontation take precedence over accountability and transparency.
      This dynamic is a key problem in today’s social media landscape: the tendency to prioritise personal standpoint over meaningful, solution-oriented conversations. A simple response would have been
      Photo Credit – Ashok Shrivastav. Ola Electric service centre
      Ola Electric Stock Drop: Not an Enjoyable Ride
      In other news today, Ola Electric share price fell below Rs 90. At Rs 89.55, its shouldering a 8.38 percent drop. FADA reports Ola Electric’s 2024 September sales at 24,679 units.
      While common, certain lines of argument are a problematic dynamic in public discourse, particularly on social media. Especially when confrontational tones and personal attacks often overshadow constructive conversation. Why is it such a common phenomenon?
      Ola Electric Share market – October 7, 2024.
      Social Media: Where Politeness Goes to Die
      When a company or individual is publicly criticised, most likely the tweet will be ignored, or there will be an automated robotic response about how they’re looking into the prob and customer care will contact them. But that pattern is likely to change if a tweet is from a known/popular entity. There could be great drama if you’re not nameless/faceless. An urge to defend oneself in the face of public criticism could be innate. So instead of even an iota of meaningful dialogue, one could deflect criticism with personal jabs. This behaviour could be from feeling personally attacked, even when the criticism was directed at the company, not the individual. Concurrently, a large audience gets sucked into it.
      Is it difficult for CEOs or company leaders to separate themselves from their companies because their identity is often deeply intertwined with the brand they represent? Does criticism of the company feel like a direct attack on their personal competence, leadership, or vision? Does negative feedback trigger a need to protect not just the company’s reputation, but their own?
      Brand reputation management – Choosing Silence

      Do indian consumers have a voice? Do they deserve this? Two wheelers are many daily wage workers lifeline…@nitin_gadkari is this how Indians will get to using EV’s? @jagograhakjago any word?Anyone who has an issue with OLA electric leave your story below tagging all… https://t.co/G2zdIs15wh pic.twitter.com/EhJmAzhCmt
      — Kunal Kamra (@kunalkamra88) October 6, 2024

      On platforms like Twitter, exchanges tend to escalate quickly, as scrutiny and audience engagement create a high-drama environment. Aggressive responses often receive attention. It’s engagement farming without even having to try. When public figures engage in a public spat, especially on social media, it draws attention, increases engagement, and fuels conversations, even if the content itself is disparaging. A spectacle. Such responses, however unprofessional or personal, are likely to trigger strong reactions, be it support from loyalists or outrage from critics, which, in turn, increases visibility and keeps the brand in the public eye. The more attention one can draw, the more “buzz” one creates, regardless of whether it’s positive or negative.
      A Code of Conduct outlines expected standards of behaviour as per company’s values and ethical standards. It’s even simpler to do as The Beatles sang, “Let It Be”, and choose not to respond to a tweet, as many have done countless times. More

    • 150 Shares99 Views

      in Bike

      Ola Electric Scooter At Rs 50k – Price Cut As Sales Decline

      by

      Ola Electric Scooter At Rs 50kWith dwindling sales and a massive setback in after-sales service, Ola Electric is marching ahead with BOSS offer ahead of festive season
      India’s leading electric 2W mobility solutions provider, Ola Electric, has been proactively pushing the sales of its S1 range of electric scooters. The company has been facing a lot of slack recently and even registered its lowest sales of 2024 last month. Amidst all this, Ola has now offered a limited-period offer.
      Called BOSS (Biggest Ola Season Sale), this limited-period offer ensures buyers can take home an Ola S1 scooter for just Rs 49,999. However, Ola’s new BOSS campaign seems to be only applicable to the base S1X electric scooter and the offer is applicable till stocks last. As denoted by an asterisk in a small font.
      Ola Electric Scooter At Rs 50k
      Ola S1X Electric Scooter At Rs 50K
      While the company is still India’s best-selling electric scooter manufacturer, Ola Electric is bleeding volumes quite a lot and is losing precious market share to the likes of TVS and Bajaj Chetak, among others. In September 2024, Ola Electric registered its lowest sales of this calendar year at just 23,965 units.
      In a bid to boost sales around the festive season, Ola Electric has launched what it calls BOSS (Biggest Ola Season Sale). With this move, Ola Electric is offering the base S1X electric scooter at an attractive price point of Rs 50K (Effective Ex-sh). Rs 49,999 to be precise. When compared to the actual prices, this is a Rs 25,000 price cut.
      Ola Electric Scooter Sep sales lowest in 2024
      Ola Electric has mentioned that BOSS offer is for S1X 2 kWh battery model only and the offer price of Rs 49,999 stands till the stocks last. There is no time bracket mentioned and prices can revert back to Rs 74,999 (Ex-sh) at company’s discretion. Ola Electric share price has seen a decline in the past few days. From its peak of Rs 157 on 19th Aug it is down to Rs 102 on 1st Oct.
      Declining Sales, Growing Complaints
      There is early access to the Ola community, who can avail the offer from today. Speaking of community, Ola scooter owners have been embracing innovative and aggressive measures to showcase their distrust of the brand. The company is averaging around 80,000 complaints per month. One Ola Electric owner sang sad custom songs on loudspeakers in front of the showroom showing a broken-down Ola scooter.
      One Ola scooter owner from Kalaburagi in Karnataka (then Gulbarga), set an Ola showroom on fire, demonstrating his frustration regarding the company’s after-sales service. Or the lack thereof. Owners have been reporting everything between small and frustrating niggles and major breakdowns. Ola service centres are being called as graveyards of electric scooters on social media, owing to the prolonged service period.
      To tackle growing complaints, Ola Electric is promising rapid measures for damage control. The company promises to expand its service network to incorporate 1,000 service centres by the end of December. AI-powered maintenance with Move OS 5, training 1 lakh third-party mechanics, Hyper Service, 1-Day fix are some of the initiatives. More