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Ola Extends Lead Over Rivals In EV 2W Market, On Track To Achieve EBITDA Profitability: Bernstein

Inc42 · 11m ago

Ola Extends Lead Over Rivals In EV 2W Market, On Track To Achieve EBITDA Profitability: Bernstein

Ola Electric is emerging as a leader in the electric two-wheeler market due to factors such as a wide range of products, strong vertical integration, direct-to-consumer distribution, competitive pricing with government subsidies, and a promising path towards profitability. This puts Ola Electric ahead of its competitors in the EV 2W space, according to analysts at Bernstein.

Related News

Acquisition By Bank Or NBFC Best Scenario For Paytm: Bernstein

Inc42 · 1y ago

Acquisition By Bank Or NBFC Best Scenario For Paytm: Bernstein

Paytm could potentially form a partnership with banks to leverage its customer base and cross-sell non-bank products, according to Bernstein. The investment from a major corporate house would help Paytm revive its business and withstand regulatory challenges. Bernstein also predicted that Paytm is on track to achieve profitability by the fiscal year 2027.

Ather Energy rival Ola Electric's losses surge from Rs 784 Crore to Rs 1,472 Crore in FY23

IndianStartupNews

IndianStartupNews · 1y ago

Ather Energy rival Ola Electric's losses surge from Rs 784 Crore to Rs 1,472 Crore in FY23

Ola Electric, led by Bhavish Aggarwal, has reported a significant increase in net losses, almost doubling from Rs 784.1 crore in FY22 to Rs 1,472 crore in FY23. Despite a 510% increase in revenue, expenses contributed to the escalating losses, reaching Rs 3,383 crore in FY23. Ola Electric aims for EBITDA profitability of Rs 803 crore by FY25 and plans to achieve a revenue of Rs 4,655 crore in FY24. The company recently raised funds and is preparing for an IPO. Ola Electric sold 15 lakh electric vehicles in FY23 and remains confident in the growing Indian EV market.

Ola Electric back on top with 25% EV 2W market share in January

Entrackr

Entrackr · 6m ago

Ola Electric back on top with 25% EV 2W market share in January

Ola Electric has reclaimed its leading position in the electric two-wheeler (EV 2W) segment, capturing a 24.91% market share in January. According to Vahan data, the company sold 24,330 units during the month. TVS Motors took the second spot, selling 23,788 units, just slightly behind Ola. Bajaj Auto, another prominent player in the Indian automobile sector, secured a 21.80% market share with 21,294 units sold in January. This marks a significant turnaround for Ola Electric, as both Bajaj and TVS Motor had surpassed the company by a considerable margin in December. Ola attributes its strong performance to its robust S1 portfolio and the recent expansion of its sales and service network, which now spans 4,000 stores nationwide. An Ola Electric spokesperson commented, “It has been an impressive start to the year for us as we emerged as a clear leader in the EV 2W industry yet again. While we are committed to further cementing our position in the segment, our recently launched Gen-3 portfolio has set new benchmarks in performance and reliability across the 2W industry in India. With our diverse EV propositions across premium and mass-market segments and expansion of our sales network beyond tier-1 and tier-2 cities, Ola Electric will continue to lead India’s transition towards #EndICEAge.” Ather Energy, a Bengaluru-based startup, recorded sales of 12,895 units, capturing a 13.20% market share. The company, led by Tarun Mehta, is also nearing its initial public offering (IPO) after receiving approval from the Securities and Exchange Board of India (SEBI). Beyond the top four players, companies like Greaves Electric Mobility (3,611 units) and PURE EV (1,650 units) were making efforts to carve out their niche in the competitive market. Hero Motocorp, despite its stronghold in the petrol two-wheeler segment, continued to face challenges in the EV space, selling only 1,615 units. Bgauss Auto (1,451 units) and Revolt Intellicorp (1,060 units) maintained their dedicated customer bases, while Kinetic Green Energy trailed with just 806 units sold.

Ola Electric captures over 52 per cent market share

Thehindubusinessline

Thehindubusinessline · 1y ago

Ola Electric captures over 52 per cent market share

Ola Electric has captured a significant 52% market share in the electric two-wheeler segment in April 2024. The company registered 34,000 new vehicle registrations during the month, with a year-on-year growth of 54%. Recently, Ola Electric introduced new pricing for its S1 X scooter portfolio, offering three battery configurations at different price points. The company also offers an extended eight-year/80,000 km battery warranty to encourage EV adoption. Ola Electric aims to further expand its presence in the mass-market 2W EV segment with the impending deliveries of its S1 X portfolio.

IPO-bound Ola Electric’s FY23 net loss almost doubles to INR 1,472 Cr on surge in expenses

Inc42 · 1y ago

IPO-bound Ola Electric’s FY23 net loss almost doubles to INR 1,472 Cr on surge in expenses

Ola Electric, led by Bhavish Aggarwal, saw its net loss almost double to INR 1,472 Cr in FY23 due to increased expenses. The company reported an EBITDA loss of INR 1,318 Cr in FY23 and targets EBITDA profitability of INR 803 Cr in FY25. Despite the losses, Ola Electric's consolidated revenue surged by 510% to INR 2,782 Cr in FY23. The startup aims to raise $700 Mn through its IPO and achieve a market capitalization of $10 Bn. Ola Electric retained the top spot in electric two-wheeler registrations, with over 27,000 units registered in November.

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

Entrackr

Entrackr · 6m ago

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

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 needs to sell 50,000 EVs a month to be profitable: Bhavish Aggarwal

Livemint

Livemint · 6m ago

Ola Electric needs to sell 50,000 EVs a month to be profitable: Bhavish Aggarwal

Ola Electric aims to achieve profitability by selling 50,000 electric two-wheelers monthly, as stated by CEO Bhavish Aggarwal. In January, sales hit 25,000 units, reclaiming market leadership. The company plans to enhance profitability by expanding its portfolio and launching new generation scooters. Ola Electric's revenue dropped due to intensified competition, but future plans include in-house battery production to cut costs. Despite challenges, they remain committed to maintaining market leadership.

TVS Motor’s 2W EV sales hold ground as iQube-maker tops June monthly sales

YourStory

YourStory · 1m ago

TVS Motor’s 2W EV sales hold ground as iQube-maker tops June monthly sales

TVS Motor Company maintained its lead as India’s top two-wheeler EV manufacturer in June, holding about 27% of market share. The iQube maker has seen a continued rise in demand despite competition from Bajaj Auto and Ola Electric. Bajaj Auto secured 24.5% market share, while Ola experienced a 45% year-on-year sales drop. New entrant Ather Energy more than doubled sales, reflecting growing competitiveness in the EV sector amid global supply concerns.

Ola launches e-bike services in Delhi and Hyderabad, announces fares

Livemint

Livemint · 1y ago

Ola launches e-bike services in Delhi and Hyderabad, announces fares

Ride-hailing platform Ola has launched e-bike services in Delhi and Hyderabad, with fares starting from ₹25 for a 5 km ride. The company plans to deploy 10,000 electric two-wheelers across three cities within the next two months and aims to have the largest EV 2W fleet in India. Ola has also set up 200 charging stations in Bengaluru to service its e-bike fleet. The move is part of Ola's vision to serve 1 billion Indians and promote nationwide electrification.

Ola Electric targeting $1.5 billion sales this year, pre-subsidy cut document shows

Economic Times

Economic Times · 2y ago

Ola Electric targeting $1.5 billion sales this year, pre-subsidy cut document shows

Ola Electric aims to achieve $1.5 billion in sales this year, according to a pre-subsidy cut document. The Indian electric vehicle startup is gearing up to accelerate its growth and market share in the EV industry. Despite anticipated subsidy reductions, Ola Electric remains confident in achieving its ambitious sales target and contributing to sustainable transportation.

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