The Fall of a Giant: Ola Electric Overtaken by Ather, Bajaj, and TVS in Stunning Reversal
Bengaluru, India – The landscape of India’s electric two-wheeler market has witnessed a dramatic shift in September 2025, with Ola Electric, once the undisputed leader, being decisively overtaken by rivals Ather Energy, Bajaj Auto, and TVS Motor Company. This stunning reversal sees Ola Electric’s sales plummet, raising serious concerns about its future amidst mounting operational challenges and a rapidly cooling market sentiment.
Ola Electric Sales Crash as Ather, Bajaj, and TVS Take the Lead
In a month traditionally buoyant for automotive sales due to festive demand, Ola Electric managed only 12,223 registrations. This figure places it significantly behind its key competitors:
- TVS Motor Company: Led the market with 21,000 electric scooter registrations.
- Bajaj Auto: Followed closely with nearly 18,000 units.
- Ather Energy: Overtook Ola to secure third place, clocking 16,558 units.
- Hero MotoCorp (Vida): Breathing down Ola’s neck, just 367 units behind.
This marks a precipitous decline for Ola Electric, which at its peak commanded over 50% of the Indian electric scooter market, akin to a “Maruti Suzuki of sorts” in its dominance.
Ola Electric Discounts Fail to Stop Sales Decline
Despite aggressive deep discounting strategies, Ola Electric’s sales slide has not only continued but has gathered alarming momentum. The inability to convert discounts into sustainable sales highlights deeper systemic issues that are driving customers away.
Why Ola Electric is Falling Behind Competitors
Several critical factors are contributing to Ola Electric’s sharp decline:
Abysmal After-Sales Service
Thousands of Ola electric scooters are reportedly stranded at service centers for months, awaiting spare parts. This widespread failure has severely damaged trust, with sentiment now favoring TVS, Bajaj, or Ather.
Collapsing Sales Network
Ola’s company-owned direct sales model is failing, as outlets shut down across multiple cities. Without a robust dealer network, customer service, compliance, and grievance redressal are suffering.
Centralized Founder-Led Decisions
A highly top-heavy, founder-driven decision-making style is preventing agile responses. Despite marquee investors, the absence of corrective action raises doubts about Ola’s governance.
Lack of Product Execution
Deep discounting drained funds from product development and service infrastructure. Announced products like the “Gig range,” three-wheeler, and EV car remain unfulfilled promises.
Exodus of Top Talent
The departure of senior executives, many from top Indian firms, signals worsening internal culture. Silence from CEO Bhavish Aggarwal only amplifies market anxiety.
Can Ola Electric Recover From This Crisis?
The current trajectory paints a grim picture for Ola Electric’s survival. Analysts believe a turnaround would require:
- Fresh PLI (Production Linked Incentive) funding
- A complete overhaul of after-sales service infrastructure
- Possibly, a leadership change at the very top
Interestingly, despite the turmoil, Ola Electric’s stock rose by 5%. While markets may react positively in the short term, the operational crisis remains daunting.
The big question: Can Ola Electric recover, or will it become another cautionary tale like Byju’s? The answer is still uncertain.
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