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Ola Electric Struggles As Sales Drop And Market Value Falls 70%
An Ola Electric Mobility Ltd. electric scooter is at an Ola showroom in Srinagar, Jammu and Kashmir, on April 18, 2025. Ola Electric, once a leader in India's electric vehicle sector, now faces significant setbacks that threaten its future. Founded in 2010, the company expands rapidly from ride-hailing services to electric scooters and battery production, attracting substantial investments from global giants like SoftBank and Tiger Global. However, following a record initial public offering (IPO) in 2024, Ola's electric scooter sales plummet, raising concerns about its viability in a highly competitive market. The company's market value drops by nearly 70% over the following seven months. Sales fall to less than half of what they were in April 2024, with February 2025 registrations dropping to just 8,647 units--a 74.5% year-on-year decline. (Photo by Firdous Nazir/NurPhoto)
Photo Details
| Photo ID | #12276875 |
|---|---|
| Date Taken | |
| Location | N/A |
| Photographer | Firdous Nazir/NurPhoto |
| Category | Economy, Business and Finance |
| Copyright | © 2025 NurPhoto - Firdous Nazir/NurPhoto |
Related Keywords
Ola Electric
electric scooter
Srinagar
Jammu and Kashmir
April 18
2025
setbacks
future
innovation
India
electric vehicle sector
2010
ride-hailing services
battery production
investments
SoftBank
Tiger Global
IPO
2024
sales decline
competitive market
market value
70% drop
seven months
sales fall
April 2024
February 2025
registrations
8
647 units
74.5% decline
year-on-year
Firdous Nazir
NurPhoto.
2025 NurPhoto. All rights reserved.
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