Ola Electric, a key player in the electric vehicle market, has experienced a significant stock slump recently, with shares dropping by nearly 16% to hit an all-time low of ₹21.21 on the BSE. This decline was driven by a sharp decrease of almost 50% in its two-wheeler EV registrations in February, indicating challenges in the EV sector.
Despite a partial recovery, the stock was still trading 4.68% lower at ₹24.04 on the BSE. Ola Electric’s market capitalization, which once peaked at around ₹69,000 Cr in 2024, has now fallen to ₹10,604 Cr amidst ongoing struggles.
The company has been facing a prolonged period of pressure due to declining EV sales and substantial losses. In 2025, its EV sales plummeted by 51% compared to the previous year. Additionally, Ola Electric has been dealing with customer service complaints and regulatory investigations, including over 10,000 complaints received by the Central Consumer Protection Authority.
Moreover, the issuance of a bailable arrest warrant against the company’s CEO, Bhavish Aggarwal, added to its challenges. This warrant was related to a missing escooter submitted for service in Goa, highlighting legal hurdles faced by the company.
Looking ahead, Ola Electric aims to diversify its revenue streams by introducing ‘Ola Shakti’, a battery energy storage system. This strategic move reflects the company’s adaptation to market dynamics and its efforts to navigate through the current downturn.
Source: Inc42 Media