Ola Electric’s shares experienced a significant surge, climbing 13.49% to reach an intraday high of ₹25.44 on the BSE, driven by a substantial increase in escooter registrations during March.
The stock traded 12.43% higher at ₹25.65 on the BSE. The company’s market capitalization was approximately ₹11,300 Cr (around $1.2 Bn) at that time.
Ola Electric regained its fifth-place ranking in terms of E2W registrations in March, with registrations soaring 139% to 9,496 units, compared to 3,973 units in February, according to Vahan data. The company held a 5.3% share of the E2W market in India last month.
The company reported that registrations exceeded 1,000 units per day in the last week of March, coinciding with the announcement of discounts up to ₹50K across its portfolio, with some variants priced as low as ₹49,999. Cumulative registrations have now surpassed 1 million units.
While its registration numbers and market share remain below its previous market-leading position, the recent improvements suggest that the company’s efforts to regain customer trust are yielding positive results.
Ola Electric reported a 150% MoM increase in escooter registrations last month. The company also stated that its same-day service resolution facility now addresses over 80% of all complaints. Additionally, it is offering an assured buyback value of up to 60% to alleviate customer concerns, along with an extended warranty of up to eight years.
Ola Electric attributed the recovery to improved parts availability, faster diagnostics, and enhanced operational control across its network.
The company stated that following service challenges in recent months, it implemented significant operational changes, resulting in improved turnaround times and customer experience, thereby strengthening customer trust and driving demand.
This development follows over a year of criticism regarding after-sales service, highlighted by visuals of overstocked service facilities with escooters awaiting repair. Regulatory investigations, declining revenue, and decreasing sales figures were also prominent issues for Ola Electric in the previous financial year.
In the third quarter of FY25, Ola Electric’s operating revenue decreased by 55% YoY and 32% QoQ to ₹470 Cr, while net loss decreased by 14% to ₹487 Cr from ₹564 Cr in the corresponding quarter of the previous year.
Shares of Ola Electric’s competitor, Ather Energy, also increased due to improved registration numbers in March amidst a broader market recovery. Ather Energy’s shares traded 2.68% higher at ₹773.2.
Ather Energy recorded a 19% MoM increase in monthly sales to 33,621 units as it focused on more affordable options. The company plans to launch an affordable scooter in the coming months.
The broader E2W market experienced a 59% increase in registrations in March, reaching 1.78 Lakh units, boosted by discounts, subsidies, and the introduction of battery subscription models by manufacturers such as TVS and Hero.
The Centre extended the timeline for E2W subsidies under the PM E-DRIVE scheme to July 31, 2026, from the previous date of March 31, 2026.
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