Ola EV Registrations Decline By 33%

New Delhi: After a blockbuster sales figure in October due to the festive season, Ola Electric vehicle registrations dropped by 33 per cent in November.

According to Vahan portal data, the number of registrations of Ola Electric vehicles in November fell by 33 per cent on a month-on-month (MoM) basis to 27,746 units. In October last year, this figure was more than 40,000 units. Due to fewer registrations, the company’s market share dipped to 24 per cent in November, which was 30 per cent in October. However, the company still maintains the first position in the electric two-wheeler market by sales.

Bhavish Aggarwal-led Ola Electric has seen volatility in sales in recent months. The reasons for this were attributed to increasing competition in the market and poor service and product quality.

Along with Ola Electric, registration of electric two-wheelers of TVS Motor declined by 13 per cent on a month-on-month (MoM) basis.