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"74.5% decline"
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#12276896
18 April 2025
The Ola Electric Mobility Ltd. logo appears on an electric scooter 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.
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#12276898
18 April 2025
Ola Electric Mobility Ltd.'s electric scooters are displayed 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 are in April 2024, with February 2025 registrations dropping to just 8,647 units--a 74.5% year-on-year decline.
Restricted to Editorial Use Only.
Commercial use is not permitted without prior authorization.
Please contact us for more information.