Ola Electric Jumps Over 13% As Escooter Registrations Soar In March

Electric two-wheeler (E2W) maker Ola Electric’s shares surged 13.49% to reach an intraday high of ₹25.44 on the BSE today after its escooter registrations more than doubled in March. 

The stock was trading 12.43% higher at ₹25.65 on the BSE at 13:05 IST. The company’s market capitalisation stood at about ₹11,300 Cr (around $1.2 Bn) at the time. 

Ola Electric jumped back to the fifth position in terms of E2W registrations in March. Its registrations zoomed 139%  to 9,496 units during the month from 3,973 units in February, as per Vahan data. It held a 5.3% share in the E2W market in India last month. 

In a statement, the company claimed its registrations crossed 1,000 units per day in the last week of March, which is when it also announced a campaign to offer discounts of up to ₹50K across its portfolio, offering some variants for as low as ₹49,999. Cumulative registrations have now crossed 1 Mn, it said.  

While its registration numbers and market share are a far cry from its once market leading position, the reversal highlights that the company’s recent efforts to win back customers are showing early results. 

The company said it saw 150% MoM uptick in escooter registrations last month. According to Ola Electric, its same-day service resolution facility has now exceeded 80% of all complaints. It is also offering an assured buyback value of up to 60% to ease customer hesitation, along with an extended warranty of up to eight years. 

Ola Electric said that the recovery was facilitated through improved parts availability, faster diagnostics, and tighter operational control across the network. 

“Following a period of service challenges in recent months, the company has implemented deep operational changes, resulting in significantly improved turnaround times and customer experience, strengthening customer trust and driving demand,” the statement added. 

This comes after over a year of criticism faced by the company for lacklustre after-sales service, which stemmed from viral visuals of backlogged service facilities flooded with escooters submitted for repair. Apart from this, regulatory investigations, falling revenue, and declining sales numbers remained the top highlights for Ola Electric during the previous financial year. 

In the third quarter of FY25, Ola Electric’s operating revenue plunged 55% YoY and 32% QoQ to ₹470 Cr, even as it trimmed net loss by 14% to ₹487 Cr from ₹564 Cr in the year-ago quarter.

Revival For E2W Market

Shares of Ola Electric’s rival Ather Energy also gained on the back of improvement in registrations number in March amid a recovery in the broader market. At 13:05 IST, shares of Ather Energy were trading 2.68% higher at ₹773.2.

Ather Energy recorded a 19% MoM uptick in monthly sales to 33,621 units as it doubled down on more affordable options. The company is also planning to launch an affordable scooter in the coming months.

The broader E2W market saw a 59% uptick in registrations in March to 1.78 Lakh units, buoyed by discounts, subsidies and the introduction of battery subscription models by manufacturers like TVS and Hero. 

Last week, the Centre also extended the timeline for E2W subsidies under the PM E-DRIVE scheme to July 31, 2026 from March 31, 2026 earlier.

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