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Ather expands service network to 500 centres amid Ola Electric’s retail network cuts

EntrackrEntrackr · 1d ago
Ather expands service network to 500 centres amid Ola Electric’s retail network cuts
Medial

Ather expands service network to 500 centres amid Ola Electric’s retail network cuts Electric two-wheeler makers Ather Energy Limited and Ola Electric are taking contrasting approaches to network expansion. Ather announced that it has expanded its service network to 500 centres, nearly doubling from 277 in FY25. The company has aligned service expansion with its retail footprint, planning to scale to 700 experience centres by FY26. In contrast, Ola Electric is reducing its physical retail network to around 550 stores from around 700, despite earlier plans to expand to 4,000 stores nationwide. The divergence comes amid different Q3 FY26 performances. Ather reported Rs 954 crore in revenue and cut its losses by 57%, while Ola Electric reported a 55% decline in revenue to Rs 470 crore and reduced losses by a smaller margin through cost controls. Monthly sales trends also underscore the gap: In February 2026, Ather recorded 20,581 vehicle registrations, equating to an 18.43% market share. Ola Electric reported 3,968 registrations, reducing its market share to 3.55%. Recently, Ola Electric's market cap stands at Rs 10,400.74 crore ($1.12 billion), while Ather Energy’s market cap reached Rs 27,760.51 crore ($3.00 billion).

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Ola Electric’s E2W market share slumps to under 6% in Jan 2026 from 24.8% a year ago

EntrackrEntrackr · 1m ago
Ola Electric’s E2W market share slumps to under 6% in Jan 2026 from 24.8% a year ago
Medial

Ola Electric’s E2W market share slumps to under 6% in Jan 2026 from 24.8% a year ago The Indian electric two wheeler market has seen significant shifts, particularly for Bhavish Aggarwal led Ola Electric, which was once the dominant player with over 35% market share at the end of 2024 but has since slipped to under 6%. Ola Electric’s overall market share since January 2025 accounted for 14.9%, translating to about 2.04 lakh units. This represents a sharp decline from 2024, when Ola Electric recorded 4.07 lakh registrations and commanded a 35.47% market share. According to Vahan data, as of January 2025, Ola Electric led the electric two wheeler market with a 24.8% share, closely followed by legacy players TVS Motor and Bajaj Auto at 24.41% and 21.81%, respectively. Ather Energy ranked fourth with a 13.31% share, followed by Greaves Electric Mobility and Hero MotoCorp. Following January 2025, Ola Electric’s market share began to decline amid controversies over persistent customer complaints, including reports of defects, safety concerns, and weaknesses in service and after-sales support. In February 2025, its market share slipped to 11.31%. However, the company saw a partial recovery during the year, with its share improving to 21.42% in April and remaining relatively consistent for the following few months. Since September 2025, the company’s sales and market share have steadily declined. In November, its market share fell to 7.16%, and by January 2026 it dropped to a new low of 5.87%, with just 5,488 registrations. On the other hand, rival Ather Energy recorded a 72% jump in sales, rising from 1.26 lakh units in 2024 to 2.18 lakh units in 2025. Its market share increased from 13.31% in January 2025 to 18.16% in January 2026. After overtaking Ola Electric in market capitalization, Ather also surpassed it in Q2 FY26 revenue, posting Rs 899 crore. Ather’s current market capitalization stands at Rs 23,712 crore, or about $2.63 billion. Legacy players such as TVS Motor and Bajaj Auto have remained consistent in sales throughout the year and continued to dominate the market. Between January 2025 and January 2026, they held overall market shares of 23.75% and 21.05%, with registrations of 3.26 lakh and 2.89 lakh units, respectively. Ola Electric’s downturn has also been reflected in its stock market performance, with the share price hitting an all-time low of Rs 30.79 today, sharply down from its listing price of Rs 75. Notably, within a few weeks of its August 2024 listing, the stock had surged to around Rs 150. The company’s current market capitalization stands at Rs 14,115 crore, or about $1.56 billion.

Ola Electric sells 25,000 units in Feb, expands market lead with 28% share

EntrackrEntrackr · 1y ago
Ola Electric sells 25,000 units in Feb, expands market lead with 28% share
Medial

Ola Electric sells 25,000 units in Feb, expands market lead with 28% share EV manufacturer Ola Electric on Friday said that it has sold over 25,000 units in February 2025, maintaining its 28% market share in the electric two-wheeler (2W) segment. In January, Ola Electric reclaimed its top spot in the electric two-wheeler segment with a 24.91% market share. The Bhavish Aggarwal-led company made a comeback after Bajaj and TVS Motor overtook it 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. As per the latest VAHAN data (12 PM, Friday), Bajaj has sold 20,006 units, followed by TVS with 17,603, Ather Energy with 11,129, and Greaves Electric Mobility with 3,492 units. The data currently shows 8,390 units for Ola Electric, which is expected to be updated by the end of the day. In a strategic decision, Ola Electric recently renegotiated its contracts with vehicle registration agencies. The company stated that this may temporarily affect VAHAN portal numbers, but the move is aimed at reducing costs and optimizing the registration process. Ola’s Futurefactory and EV hub in Tamil Nadu played a key role in its growth, along with its Battery Innovation Centre (BIC) in Bengaluru. With over 750 company-owned stores, Ola Electric claims that it has the largest EV retail network in India.

Ola Electric shares sink to all-time low after 47% drop in monthly sales

EntrackrEntrackr · 17d ago
Ola Electric shares sink to all-time low after 47% drop in monthly sales
Medial

Ola Electric shares sink to all-time low after 47% drop in monthly sales Shares of Ola Electric Mobility hit an all-time low on Monday, sliding to Rs 23.82 on March 2, as the Bhavish Aggarwal-led electric two-wheeler maker slipped out of the top five players in the Indian EV scooter market amid a sharp fall in monthly sales. According to Vahan data, Ola Electric’s sales plunged over 47% month-on-month in February to 3,968 units, dragging its market share down to 3.55%. The sharp decline pushed the company out of the top five electric two-wheeler manufacturers for the month. The electric two-wheeler market also witnessed a slowdown in February, with total registrations falling more than 9% to 1,11,680 units, largely due to the shorter month. TVS Motor Company continued to lead the segment, clocking registrations of 31,600 units and maintaining a 28.3% market share during the month. Ola’s competitor, Ather Energy retained its third position with 20,581 registrations and 18.43% market share in February. On the financial front, Ola Electric's revenue from operations reduced to 470 crore in Q3 FY26, compared to Rs 1,045 crore in the previous year of the same quarter. Ola Electric cut its losses by 14% to Rs 487 crore in the same period. Ola Electric’s shares are currently trading at Rs 23.92. The company’s market capitalization stood at Rs 10,528 crore ($1.1 billion).

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