Ola Electric Sales DROPS: TVS and Bajaj lead Indian EV Market; read details
Ola Electric: Facing mounting complaints about product quality and after-sales services, Ola Electric's market share plummeted to 19% in December.
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Ola Electric Struggles
Ola Electric, which entered the Indian electric bike market with great fanfare, has suffered a major setback. The company, which once held the top spot in the country's electric bike sales, is now losing its influence.
E-Scooter Sales Drop
Ola Electric, which held about 50-52% market share at the beginning of 2024, has now seen a major decline. TVS Motor and Bajaj Auto are leading the charge.
TVS Motor Leads
TVS and Bajaj currently control about 48% of the electric bike market. Ather Energy has also strengthened and sold 5,360 units in the first half of January.
Bajaj Auto Gains Share
To address its declining market share, Ola Electric announced a 72-hour discount offer. However, the impact of these measures remains uncertain. Meanwhile, Ola Electric is under regulatory scrutiny.
Ola Faces Scrutiny
The Karnataka High Court recently upheld the legality of the investigation into the cases against Ola and ordered Ola to comply with document requests.
Electric Bike Market Shift
Ola has risen to become a market leader in the Indian electric bike industry in a short period. However, the company is now facing many challenges.
