Ola Electric has achieved a landmark production milestone with its one-millionth EV rolling out of the Futurefactory in Krishnagiri, Tamil Nadu.
- Ola began production in 2021
- Ola’s current market share is 18 percent
- It has lost significant market share in the last year
Ola Roadster X+ anniversary edition unveiled
Features badges made from recycled copper waste
The Bengaluru-based company, which commenced production in 2021, has crossed the 1 million figure in under four years, making it India’s first pure-play EV manufacturer to do so.
To mark the occasion, Ola unveiled a special edition Roadster X+, finished in midnight blue with red highlights on the dual-tone seat, rims and battery pack. The celebratory edition also features badges made from recycled copper waste and electroplated bar ends.
Last month, at the company’s annual event, it also unveiled the new 4680 Bharat Cell debuting with the S1 Pro+ 5.2kWh and Roadster X+ 9.1kWh, among other announcements and future promises.
In August, Ola regained some momentum by securing the number two spot in e-two-wheeler sales, just behind TVS. However, over the past year, the company has lost a substantial chunk of the market to legacy players such as TVS and Bajaj, and it now finds itself neck and neck with Ather Energy, which has a 17 percent share.
While last month’s sales were stronger than in previous months, Ola has long relinquished the number one position it once commanded. Until last year, the company held a massive market share that peaked at 51 percent in May 2024 and has since dropped to just 18 percent. The decline is largely due to legacy players advancing with more reliable products and wider market penetration, while Ola has struggled with concerns over reliability and after-sales support.
Azaman Chothia
Dinshaw Magol
Vishal Venugopal
