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Ola Electric Mobility Limited

Electric Vehicles (EV)Founded 2017
Reviewed by Swet Parvadiya
Company data updated: October 2026
Independent Editorial Analysis
7 historical events · Editorial analysis

Ola Electric Company Profile: Revenue, Business Model & Strategy

Research depth: 7 milestones · 10 FAQs

Ola Electric Mobility is an Indian electric two-wheeler and battery cell maker founded in 2017 by Bhavish Aggarwal and listed on the NSE (OLAELEC). It reported FY26 revenue of ~$261 million (₹2,253 crore) and a net loss of ~$213 million (₹1,833 crore), and held about 6.5% of India's electric two-wheeler registrations…

How Ola Electric makes money: Ola Electric makes money mainly by selling electric scooters (S1 range) and Roadster electric motorcycles directly to consumers through its own app and company-owned stores, without franchised dealers.

Revenue & employeesCEO historyFoundersBusiness model
Annual Revenue (FY2026)~$261.3M
CEOBhavish Aggarwal
Founded2017
IndustryElectric Vehicles
By Swet ParvadiyaLast reviewed:
Data sources: annual reports, SEC filings, methodology
Industry:Electric Vehicles

Ola Electric Mobility Limited key figures

Ola Electric Mobility Limited had revenue of ~$261.3M for fiscal year 2026, down 50.1% from FY2025. Net loss was ~$212.6M, a net margin of -81.4%.

Source: Ola Electric Mobility (NSE:OLAELEC) annual reports, as compiled by S&P Global (via StockAnalysis) · Last reviewed October 2026

Revenue growth, FY2022 to FY2026
+56.7% a year
Compound annual rate, ~$43.3M to ~$261.3M
Peak revenue year
FY2024
~$581.2M; the latest reported year is 55.0% below the peak
Founded
2017
9 years ago
Where was Ola Electric founded?
Ola Electric was founded in Bengaluru, Karnataka, India in 2017.
When did Ola Electric start?
Ola Electric was founded in 2017.
Who founded Ola Electric?
Ola Electric was founded by Bhavish Aggarwal.
How old is Ola Electric?
Ola Electric is 9 years old as of 2026.
In-Depth Analysis
249 words · 2 min read

Ola Electric Mobility Limited is a Bengaluru-based maker of electric scooters, electric motorcycles and lithium-ion cells, founded in 2017 by Bhavish Aggarwal and listed on the NSE as OLAELEC since August 2024. It reported FY26 revenue of ~$261 million (₹2,253 crore) and a net loss of ~$213 million (₹1,833 crore), and held about 6.5% of India's electric two-wheeler registrations in September 2026.

What Does Ola Electric Do?

  • S1 scooters: S1 Pro, S1 X and related variants sold directly to consumers.
  • Roadster motorcycles: Electric motorcycles whose deliveries rose 67% quarter on quarter in Q1 FY27.
  • Bharat Cell: In-house 4680 NMC cells, plus a BIS-certified 46100 LFP cell, made in Krishnagiri, Tamil Nadu.
  • Mahashakti: Energy storage platform launched in August 2026.

How Does Ola Electric Make Money?

Nearly all revenue comes from vehicle sales. In Q1 FY27 the automotive segment earned ~$52.8 million (₹455 crore) and the cell segment ~$580,000 (₹5 crore).

From Market Leader to Fifth Place

Ola led India's electric two-wheeler market from 2022 to 2024 with more than 30% share. Service problems and stronger competition from TVS and Bajaj cut that to 5.1% in Q4 FY26. Q1 FY27 brought a partial recovery to 8.4%, but share slipped again to 6.49% in September 2026.

Funding and Outlook

Ola raised ~$90.5 million (₹780 crore) through a QIP in June 2026 and approved a ~$116 million (₹1,000 crore) rights issue in September 2026. Management is targeting operating costs of about $34.8 million (₹300 crore) per quarter and a 6 GWh gigafactory.

Table of Contents

Ola Electric Mobility Limited Key Facts

CompanyOla Electric Mobility Limited
Annual revenue change-50.1% (FY2025–FY2026)
Financials~$261.3M (FY2026, last reviewed October 2026)
Market Cap$1.9B
FY2026 net incomeloss ~$212.6M
Last reviewedBy Swet Parvadiya, Founder & Editor - October 2026
Founded2017
Founder(s)Bhavish Aggarwal
CEOBhavish Aggarwal
HeadquartersBengaluru, Karnataka, India
IndustryElectric Vehicles

Ola Electric Company Profile: Revenue, Business Model & Strategy

"Ola Electric went from India's top electric two-wheeler seller to fifth place in two years: FY26 revenue halved to ~$261 million (₹2,253 crore) and its September 2026 market share was 6.5%, even as it began producing its own Bharat Cell batteries."

Ola Electric Mobility is an Indian electric two-wheeler and battery cell maker founded in 2017 by Bhavish Aggarwal and listed on the NSE (OLAELEC). It reported FY26 revenue of ~$261 million (₹2,253 crore) and a net loss of ~$213 million (₹1,833 crore), and held about 6.5% of India's electric two-wheeler registrations in September 2026.

Revenue

~$261.3M

Founded

2017

Author: CorpDigest Research DeskCompany Research

Recorded annual revenue change

Ola Electric Mobility Limited had ~$523.6M of annual revenue in FY2025 and ~$261.3M in FY2026. Revenue fell 50.1% between those fiscal years.

Source for FY2026

Compare Ola Electric Mobility Limited With

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Explore Ola Electric In Depth

Detailed research across every dimension of Ola Electric — history, financials, leadership, and strategy.

Company History

Ola Electric is India's best-known pure-play electric two-wheeler company and a separate listed entity from ride-hailing firm Ola Cabs (ANI Technologies), though both were founded by Bhavish Aggarwal.

Full Ola Electric history →

Revenue & Financials

Ola Electric had ~$261.3M in revenue for fiscal year 2026. Data covers 5 fiscal years. Market capitalization stands at approximately $2B.

Ola Electric financials →

Founders

Ola Electric was founded by Bhavish Aggarwal in 2017. Explore each founder's background, motivations, and their role in building the company.

Ola Electric founders →

CEO & Leadership

Ola Electric is currently led by Bhavish Aggarwal. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.

Ola Electric CEO history →

Business Model

Ola Electric makes money mainly by selling electric scooters (S1 range) and Roadster electric motorcycles directly to consumers through its own app and company-owned stores, without franchised dealers.

How Ola Electric makes money →

Acquisitions

Ola Electric has completed 1 documented acquisition. Explore the full acquisition history and strategic rationale behind each deal.

Ola Electric acquisitions →

Competitive Strategy

Ola Electric's growth plan has four parts: win back scooter share with cheaper S1 variants and its own cells; build Roadster electric motorcycles into a second vehicle business; use the gigafactory to supply cells for…

Ola Electric strategy →

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 Research Profile

Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.

About the Author →Our Methodology →

Sources & References

All data point citations [1], [2], etc. in the tables above refer to these primary sources.

Financial data on this page is sourced from SEC EDGAR filings, official earnings releases, and verified press statements. Revenue figures are reviewed and updated periodically. Read our full data methodology ->

Editorial Methodology

Company Research

We use company filings, annual reports, company statements and press reports, with primary sources preferred where available. Each financial row shows its recorded source. Full-year figures are separated from annualized run-rates, partial periods and forecasts; unaudited figures carry a label. Source detail varies by company, so check the linked material when the reporting basis matters.

1. Primary Sources

Public companies may provide filings and annual reports. Private-company figures may come from statements or press coverage. A missing figure stays missing, and a source link should identify where its number came from.

2. Expert Curation

We organize company records and review claims for strategic context, source quality and clarity. Pages show a review date where one is recorded.

3. Multi-Pass Audit

Technical checks flag inconsistent figures and missing links. Editorial review of the underlying source remains necessary for claims those checks cannot verify.

Swet Parvadiya
SEC filings & public records methodology
Sourced from public financial records

Frequently Asked Questions About Ola Electric

How does Ola Electric make money?

Ola Electric earns almost all its revenue from selling S1 electric scooters and Roadster electric motorcycles directly to customers through its app and company-owned stores. In Q1 FY27 the automotive segment produced ~$52.8 million (₹455 crore) of revenue, while the cell business added about $580,000 (₹5 crore). Service, spares, warranties, software features and PLI incentives contribute smaller amounts.

Who owns Ola Electric?

Founder Bhavish Aggarwal and his promoter group own about 32.97% of Ola Electric (September 2026). SoftBank was the second-largest shareholder with 13.53% as of January 2026 after selling shares. Retail and institutional investors own the remainder through NSE and BSE trading.

Who is the CEO of Ola Electric?

Bhavish Aggarwal leads Ola Electric as founder, Chairman and Managing Director. He also co-founded Ola Cabs and founded AI company Krutrim.

Who are Ola Electric's competitors?

Ola Electric's main competitors are TVS Motor (iQube), Bajaj Auto (Chetak), Ather Energy and Hero MotoCorp's Vida. In September 2026 these four ranked ahead of Ola, which was fifth with a 6.49% share of electric two-wheeler registrations.

What was Ola Electric's revenue in FY26?

Ola Electric reported revenue from operations of ~$261 million (₹2,253 crore) for FY26 (year ended 31 March 2026), down 50.1% from ~$524 million (₹4,514 crore) in FY25. Its net loss narrowed to ~$213 million (₹1,833 crore) from ~$264 million (₹2,276 crore).

Is Ola Electric profitable?

No. Ola Electric reported a consolidated net loss of ~$39 million (₹336 crore) in Q1 FY27 and an operating EBITDA loss of ~$19.1 million (₹165 crore), though both improved from the prior quarter.

When did Ola Electric go public?

Ola Electric listed on the NSE and BSE on 9 August 2024 after an IPO priced at ₹76 per share that raised about $713 million (₹6,145 crore).

What is the Ola Gigafactory?

The Ola Gigafactory in Krishnagiri, Tamil Nadu, makes Ola's 4680 'Bharat Cell' lithium-ion cells. The company said it would be operational at 6 GWh by September 2026, and its 46100 LFP cell has BIS certification.

Where is the Ola Electric factory?

Ola Electric builds its scooters at the 'Ola Futurefactory' located in Krishnagiri, Tamil Nadu, which the company claims is the world's largest two-wheeler manufacturing facility run entirely by women.

Are Ola Cabs and Ola Electric the same company?

They are completely separate corporate entities, but both were founded and are led by the exact same CEO, Bhavish Aggarwal.

Strategic Face-Off

Head-to-Head Comparisons

How does Ola Electric Mobility Limited stack up against its biggest rivals? Compare revenue, business models, SWOT, and competitive moats side by side.

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Ola Electric Mobility Limited vs TVS Motor Company

Revenue scale, margin comparison, and long-term moat analysis.

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RivalryVS

Ola Electric Mobility Limited vs Ather Energy

Revenue scale, margin comparison, and long-term moat analysis.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.