Bengaluru-based Ola Electric, once the leader in India’s electric two-wheeler market, retained third place in June 2025 for the second consecutive month, with TVS Motor and Bajaj Auto maintaining their lead.
Ola Electric, a Bengaluru-based electric vehicle startup and once the front-runner in India’s electric two-wheeler segment, retained its third-place position in June 2025, with 18,527 units sold, as TVS Motor and Bajaj Auto continued to dominate the market.
According to the government-run Vahan portal, Ola’s sales were nearly flat month-on-month, slightly down from 18,541 units in May. The company’s market share edged up to 19.6% but stayed below the 20% mark for the second straight month.
In contrast, Chennai-based TVS Motor led the market with 25.4% share, followed by Pune-based Bajaj Auto with 22.8%, reaffirming the rising dominance of legacy players in the EV space.
The electric two-wheeler segment overall witnessed a minor slowdown, with 94,299 units sold in June, compared to 96,858 in May, amid softening consumer demand.
Meanwhile, Ather Energy, a newly listed EV manufacturer, made small gains, improving its share from 13.4% to 14.4%, with 13,617 units sold in June. The company has recently announced plans to expand to 700 experience centres across India by the end of FY26, boosting its retail footprint.
In May 2025, Ola Electric’s board approved a fundraising move of up to ₹1,700 crore through non-convertible debentures (NCDs) and other debt instruments—its first such initiative since its IPO in August 2024. The capital is expected to support the company’s operations and improve financial stability.
However, Ola Electric has faced challenges in recent months, including sales data discrepancies, quality complaints, and missing trade certificates at several retail outlets. These issues have dented investor confidence.
Financially, the company’s performance worsened in the March 2025 quarter, with net losses widening to ₹870 crore, more than double the ₹416 crore loss in the same period last year. Operating revenue plunged 61.8% to ₹611 crore from ₹1,598 crore due to a steep drop in electric scooter sales.
Despite the setbacks, CEO Bhavish Aggarwal remained optimistic, stating in the company’s earnings call that revenues for Q1 FY26 are projected to be between ₹800–850 crore, with gross margins of 28–30%.
Ola Electric’s performance in the coming months will be closely watched, especially as the EV market matures and established players scale aggressively.
