Ola Electric's scooter sales plummet 89% in last 2 years
Ola Electric, once the face of India's EV boom, is now struggling.
In February 2026, sources report it sold either 3,891 or 3,968 scooters—down from over 34,000 two years ago—one report ties the 3,968 figure to a 3.7% market share.
That's a major drop from its earlier dominance.
Bajaj and Ather now lead the EV pack
While Ola slipped to sixth place, Bajaj Auto and Ather Energy are now leading the pack with sales of over 24,000 and nearly 20,000 units.
Even Greaves and Hero MotoCorp have pulled ahead.
Ola's revenue has dropped by over half
Ola's revenue dropped by more than half in late 2025 to ₹470 crore. Losses have shrunk a bit but are still high at ₹487 crore.
The company is also cutting back on stores—down from plans for 4,000 to just about 700 now.
Ola's stock price has crashed to ₹21.2
Ola's stock price has crashed to ₹21.2 as of March 2, wiping out ₹57,000 crore in market value since its peak.
Even with all these setbacks, Ola remains one of India's biggest EV players—but the road ahead looks tough.