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Ola Electric's Market Share Plummets Amidst Rising Rivalry
27 Jan
Summary
- Ola Electric's market share dropped from 35% in late 2024 to under 6% by January 2026.
- Ather Energy saw a 72% jump in sales, increasing its market share significantly.
- TVS Motor and Bajaj Auto maintained consistent sales and dominated the market.
The Indian electric two-wheeler market has witnessed a significant upheaval, with Ola Electric's market share plummeting from over 35% in late 2024 to a low of 5.87% by January 2026. This decline followed persistent customer complaints regarding defects and service issues.
In contrast, Ather Energy has achieved substantial growth, recording a 72% increase in sales from 2024 to 2025 and expanding its market share. Ather also surpassed Ola Electric in revenue and market capitalization during Q2 FY26.
Legacy manufacturers TVS Motor and Bajaj Auto have maintained a steady presence, holding significant market shares of 23.75% and 21.05% respectively between January 2025 and January 2026.
Ola Electric's financial performance has also been impacted, with its stock price hitting an all-time low of Rs 30.79, considerably down from its listing price of Rs 75.
