"The Ola Electric Mobility Ltd. logo is pictured at an Ola sh..."

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18 April 2025

The Ola Electric Mobility Ltd. logo is pictured at an Ola showroom in Srinagar, Jammu and Kashmir, on April 18, 2025. Ola Electric, once a beacon of innovation in India's electric vehicle sector, now grapples with 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.

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