EV Scooter News

Highlights:

• Ola Electric reported ₹828 crore in revenue for Q1 FY26, marking a 50% drop compared to the same period last year.
• The company’s auto business became EBITDA positive for the first time in June 2025.
• Despite this, Ola has set an ambitious target of ₹4,700 crore revenue and 3.75 lakh unit sales for the full year.
• The company will focus on setting up its Gigafactory in Tamil Nadu and launching new products.

50% Year-On-Year Drop but Signs of Recovery

Ola Electric has revealed its Q1 FY26 financial report, showing ₹828 crore in revenue. While this figure reflects a sharp 50% decline compared to the first quarter of the previous year, there has been a clear improvement over the previous quarter.

This suggests that the company is slowly entering recovery mode and realigning its strategies for better profitability.

However, the company also reported a net loss of ₹428 crore in this quarter. Ola has reassured investors not to panic, explaining that much of this money is being invested in ramping up production capacity, research and development, and scaling up operations.

Ola also highlighted that June 2025 was a crucial turning point, as for the first time, its auto business became EBITDA positive, marking the first solid step towards profitability.

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Next Targets and Big Plans

Ola Electric has set a bold target for the full year, aiming to sell 3.75 lakh electric two-wheelers and achieve ₹4,700 crore in total revenue in FY26.

If Ola achieves this target, the upcoming quarters could see significant growth, especially during the festive season.

Founder and CEO Bhavish Aggarwal has once again emphasized Ola’s long-term vision, stating that the company remains fully committed to innovation and localization.

Ola continues to invest heavily in its Tamil Nadu Gigafactory, where battery production is expected to start by the end of this year.

The company believes that India’s electric mobility sector has a bright future, and the current losses are simply a part of its long-term growth strategy.

New Product Launches and Software Updates

Ola has also expanded its product portfolio. Recently, it rolled out its latest software update MoveOS 5 and launched the budget-friendly S1 X series, targeting a wider range of customers across different price segments.

India’s EV market is expected to grow rapidly over the next five years, and Ola’s focus on local manufacturing, vertical integration, and software-driven innovation could help it achieve profitability much faster.

Even though the current financial numbers may seem weak, Ola is preparing to become a top industry player in the long run.

It will be interesting to see how Ola balances growth, cost-cutting, and scaling up in the coming quarters, especially as competition in the two-wheeler EV market intensifies with both established automotive brands and new startups entering the race.

Mustfa

This guy loves to break down Ola, Ather, and iQube news faster than your scooter charges. He reports EV scooter news with more drama than a daily soap. From Ola’s app bugs to iQube’s silent updates, he covers it all. Expect range anxiety, but never content anxiety!