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 (as of 12:40 PM). The company’s market capitalization stood at Rs 10,528 crore ($1.1 billion).