All posts tagged: ola electric

Ola Electric claims cost reduction program will save ₹90 crore a month, achieve EBITDA break even for next quarter

Ola Electric claims cost reduction program will save ₹90 crore a month, achieve EBITDA break even for next quarter

Published by Parlour News

Ola Electric announced on Wednesday that it has successfully finished implementing a company-wide cost cutting program, resulting in savings of ₹90 crore a month. One of the Ola Electric employees seen at the EV maker’s assembly line at its facility Futurefactory near Chennai, developing the S1 and S1 Pro electric scooters. Dubbed the Network Transformation and Opex Reduction Program, its actions include shutting regional warehouses and shipping vehicles, spare parts and accessories from the factory directly to stores, as well as automating registrations and other processes. Also Read: NASA fires its chief scientist Katherine Calvin, signalling shift from research to exploration The company said that as a result, it expects to break even on Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the next quarter, which is the first quarter of the financial year 2025-26. It also added that this has resulted in reducing the average vehicle inventory to 20 days from approximately 35 days, and also reducing the delivery time for customers from 12 days to 3-4 days. The new changes in the …

From market leader to laggard: Can Ola Electric regain its lead? | Smart Stocks News

From market leader to laggard: Can Ola Electric regain its lead? | Smart Stocks News

Published by Parlour News

Just a year ago, Ola Electric was the undisputed king of India’s electric two-wheeler market with a massive 52% market share. Fast forward to February 2025, and things have taken a sharp turn. Ola Electric’s registrations have crashed to just 8,390 units — the lowest since August 2022. That’s a 65% drop from 24,376 units recorded in January 2024. And while Ola is still leading the pack, its rivals are catching up fast. Now, the entire electric two-wheeler market isn’t exactly thriving. According to Vahan, total registrations slumped 27% in February to 71,847 units — the lowest since April 2024. But here’s the key point — while everyone took a hit, Ola’s fall was the steepest. High-speed E-2 wheeler sales trend by OEM. Bajaj Auto is making the most of it. It sold over 20,000 electric scooters in February, grabbing a 27.8% market share. TVS Motor wasn’t far behind, clocking 17,605 units and securing 24.5% market share. Even Ather Energy, Ola’s closest startup competitor, registered 11,130 vehicles, cornering 15.5% of the market. Story continues below …

Ola S1 Gen 3 Electric Scooters With Dual ABS, Chain Drive Technology Launched in India: All You Need to Know

Ola S1 Gen 3 Electric Scooters With Dual ABS, Chain Drive Technology Launched in India: All You Need to Know

Published by Webster

Ola S1 Gen 3 electric scooters were launched in India on Friday. The company claims the new scooters deliver big improvements in terms of reliability, quality, and serviceability with its third-generation platform. As part of its latest portfolio, Ola has debuted four scooters — Ola S1 X, S1 X+, S1 Pro, and the S1 Pro+, and all of them come with varied battery pack options. The Gen 3 platform is said to offer a 20 percent increase in performance as well as improved range over the Gen 2 Ola electric scooters while also reducing the cost by 11 percent. The Gen 3 lineup introduces new features such as dual ABS (anti-lock braking system) and brake-by-wire technology. Further, Ola says it has optimised the performance and reliability of its electric scooters by incorporating a mid-drive motor and chain drive technology. Alongside the EVs, the company also announced the MoveOS 5 beta which brings features like smartwatch app connectivity, smart park, and more. Ola S1 Gen 3 Electric Scooters Price in India Ola S1 X price in …

Key Government Agency To Probe Ola Electric Over Product Issues

Key Government Agency To Probe Ola Electric Over Product Issues

Published by Webster

The agency has asked the Bureau of Indian Standards to conduct a detailed investigation. India’s top product certification agency will investigate e-scooter maker Ola Electric’s deficiency in service standards and product issues, India’s consumer affairs secretary told Reuters on Thursday. Last month, the Central Consumer Protection Authority (CCPA) sent Ola Electric a notice seeking an explanation from the SoftBank-backed company after the consumer rights agency received an unusually high 10,000 complaints. Ola, India’s top e-scooter maker, responded that it had resolved 99.1% of the complaints. After reviewing that response, the CCPA has now asked the Bureau of Indian Standards to conduct a detailed investigation into the matter, consumer affairs secretary Nidhi Khare said on Thursday. Ola Electric did not immediately respond to a Reuters email seeking comment. The complaints were mostly for “minor” issues, Ola’s founder Bhavish Aggarwal said on an earnings call last week. “Two-thirds of it actually are just minor issues like loose parts or customers unfamiliar with the software used,” Aggarwal said. The rising complaints and ensuing regulatory scrutiny have cast a …

Kunal Kamra Accepts Bhavish Aggarwal’s ‘Join Ola’ Offer But With Conditions At Ola Electric

Kunal Kamra Accepts Bhavish Aggarwal’s ‘Join Ola’ Offer But With Conditions At Ola Electric

Published by Webster

Kunal Kamra has been flagging the state of Ola’s service centers for several weeks New Delhi: Weeks after a war of words broke out between them over the after-sales and service quality of the company’s electric scooters, stand-up comedian Kunal Kamra on Monday accepted Ola founder Bhavish Aggarwal’s job offer but with several conditions. In a post on X, where their debate initially began earlier this month, Mr Kamra said he has “no choice” but to accept Mr Aggarwal’s offer to work with OLA. “After being tagged thousands of times I anyway feel like I am an OLA employee,” he said. The OLA boss had invited Kunal Kamra to “come and help” them out after the latter flagged the service centre situation of the company’s electric scooters on October 6. The argument began when Mr Kamra posted an image on X showing a large number of EV scooters being parked at an Ola service centre. “Do Indian consumers have a voice?  Do they deserve this? Two-wheelers are many daily wage workers’ lifeline,” the comedian had …

Harsh Goenka Posts Ola Electric EV Scooter Pic With “Kamra” Caption After Online Kunal Kamra Bhavish Aggarwal Spat

Harsh Goenka Posts Ola Electric EV Scooter Pic With “Kamra” Caption After Online Kunal Kamra Bhavish Aggarwal Spat

Published by Webster

Bhavish Aggarwal and Kunal Kamra were engaged in a heated spat last week New Delhi: RPG Group Chairman Harsh Goenka on Tuesday took a dig at Ola CEO Bhavish Aggarwal over his recent spat with comedian Kunal Kamra. Taking to his official X account, Mr Goenka said he uses his Ola if he has to travel from one ‘kamra’ (room) to another. “If I have to travel close distances, I mean from one ‘kamra’ to another, I use my Ola,” he wrote, tagging Mr Aggarwal and a picture of him sitting on an Ola electric vehicle.   If I have to travel close distances, I mean from one ‘kamra’ to another, I use my Ola @bhashpic.twitter.com/wujahVCzR1 — Harsh Goenka (@hvgoenka) October 8, 2024 His ‘kamra’ mention was an apparent reference to the surname of the comedian, who last week was engaged in a heated argument with Mr Aggarwal over the situation of Ola service centres. The argument began when Mr Kamra took to his official X account and posted an image showing a large number of …

Ola Electric records over 30,000 registrations in December, dominates the 2W EV segment with 40% market share

Published by Webster

Ola electric scooters. | Photo Credit: Special Arrangement Ola Electric on January 1 announced that it recorded 30,219 registrations in December and captured a 40% market share in the EV 2W segment (as per VAHAN Portal). The company clocked its highest ever monthly registrations during the month and posted a year-on-year (Y-o-Y) growth of 74% compared to the same month last year. Additionally, it posted a Q-o-Q growth of 48% with 83,963 registrations during the quarter ended December and a Y-o-Y growth of 68% when compared to the same quarter last year. Ola Electric has achieved another achievement in December by reaching an industry-first production milestone of 4,00,000 scooters in the span of just two years. The company has also emerged as the first ever EV 2W manufacturer to record over 2.65 lakh registrations (as per VAHAN Portal) in a calendar year, said a release. Anshul Khandelwal, Chief Marketing Officer at Ola Electric Technologies Private Limited, said “We believe that we have continued our market leadership for yet another quarter on the back of our …

Afternoon brief: IAF’s ‘pack is complete’ tweet on receiving last Rafale jet | Latest News India

Published by Webster

Here are today’s top news, analysis, and opinion. Know all about the latest news and other news updates from Hindustan Times. ‘Pack is complete’: Indian Air Force on getting last of 36 Rafale jets The Indian Air Force (IAF) on Thursday shared an update on Twitter on receiving the last of the 36 Rafale jets. “Feet dry! ‘The Pack is Complete’. The last of the 36 IAF Rafales landed in India after a quick enroute sip from a UAE Air Force tanker. (sic),” the IAF tweet read, along with the picture of the aircraft. Read more Ola Electric to roll out MoveOS 3 next week for S1 & S2 Pro electric scooters The MoveOS 3 has added features that were first announced at the launch of the S1 and S2 Pro electric scooters. The scooter finallu gets HIll Hold Control which holds the scooter on an incline. Read more WhatsApp’s new calling features include in-call notifications, 32-person calls WhatsApp has announced new features for improved calling on the app. In its blog post, the Meta-owned …