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Ola Offers Scooter Trade-In For New Gen 3 Models
20 Feb
Summary
- Customers can exchange older Ola scooter models for new Gen 3 versions.
- The program starts this weekend in Bengaluru, announced February 20, 2026.
- Ola's market share has fallen below 6% amid competition.
Ola Electric has initiated a new program enabling customers to upgrade their older Gen 1 and Gen 2 electric scooters and motorcycles. This initiative allows for the exchange of existing vehicles for Ola's newest Gen 3 models, some featuring advanced 4680 battery technology. The program was announced on February 20, 2026, by founder and CEO Bhavish Aggarwal, with an initial rollout planned for Bengaluru this weekend.
The Gen 3 platform boasts significant hardware improvements, including mid-drive motors and chain-drive systems, alongside enhanced efficiency and durability. These new models offer a top riding range of up to 320 km on select variants. The company continues to refine performance through MoveOS software updates.
This exchange program arrives as Ola Electric navigates service challenges and reliability concerns that have impacted customer trust. Previously holding over one-third market share at the end of 2024, Ola Electric's market share has since fallen below 6%.
Established competitors like TVS Motor Company and Bajaj Auto have solidified their positions, now commanding over 60% of the market. Ola Electric's financial performance has been affected, with third-quarter revenue halving year-over-year and losses remaining substantial.
