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.

For the quarter ending in December 2024 (Q3 FY25), Ola Electric saw a 19.4% YoY revenue decline to Rs 1,045 crore. The company’s losses also 50% to Rs 564 during the period.

The company’s competitors, Ather and Greaves Electric, are also set to enter the public market soon. While Ather has already received final approval from SEBI, Ampere’s parent Greaves, filed its Draft Red Herring Prospectus (DRHP) with the market regulator in December.