Ola Electric said it faced a capacity issue at service centres because service capacity growth lagged sales volume growth over the 2-3 quarters.
Ola Electric has resolved almost all of this backlog and now ~80 percent of service requests are being serviced in T+1 days. Ola Electric is also expanding its service capacity to handle the higher number of vehicles in operation.
Ola Electric says it maintained a strong market leadership with a 33 percent market share in Q2 FY25, despite intensified competition.
Ola Electric is planning expansion to 2,000 stores by March 2025 from the current 782, alongside the growth of the Network Partner Program. This includes over 1,000 active partners under the program, aiming for 10,000 partners by the end of 2025.
Ola Electric says electric two-wheeler (E2W) penetration rose to 7.5 percent in September 2024 from 5.8 percent in June, with EV scooters increasing from 16.1 percent to 21.4 percent during the same period.
Key states like Uttar Pradesh, Rajasthan, Karnataka, and Maharashtra show penetration levels between 25 percent and 45 percent.
Mass market portfolio (sub ₹1 lakh) grew 15 percent QoQ, driving EV adoption, while the premium segment continued to lead in revenue.
Efforts in technology and vertical integration have driven efficiencies, with BOM costs projected to decrease by 20 percent over the next year. Part of these savings is reinvested in growth initiatives.
Ola Electric launched Roadster motorcycle series, with first deliveries expected by March 2025. Pricing spans from ₹74,999 to ₹249,999 across three models and eight variants.
S1 Gen 3 platform is ahead of schedule, with deliveries moved up to January 2025.
Ola Electric’s revenue increased 38.5 percent YoY to ₹1,240 crore, supported by a 73.6 percent increase in deliveries, reaching 98,619 units in Q2 FY25.
Ola Electric will have broad EV portfolio with six scooter models priced from ₹75,000 to ₹150,000, and plans to launch 20 products over the next two years, with a minimum of one product each quarter.
Despite recent efforts, the company faces ongoing service quality issues, which have impacted its financial performance.
Although Ola Electric claims to have resolved 99.1 percent of 10,644 complaints, the Department of Consumer Affairs is carefully reviewing each case to verify the company’s claims about its after-sales service.
Baburajan Kizhakedath