Ola Electric Mobility Limited is an electric vehicle company founded in 2017 that primarily manufactures electric vehicles and core components for electric vehicles. These components include battery packs, motors, and vehicle frames, all produced at the Ola Futurefactory. The company is headquartered in Bengaluru and was founded by Bhavish Aggarwal, designing and manufacturing electric two-wheelers, including the Ola S1 in three variants named Ola S1 Air, Ola S1X, and S1 Pro.
Ola Electric has established itself as the largest E-Scooter Manufacturing company in India, with 31% market share in the E2W sector, selling 329,618 scooters in FY24. The company's strategic focus on vertical integration and technology development has positioned it at the forefront of India's electric vehicle revolution.
The backbone of Ola Electric's operations lies in its world-class manufacturing facilities. The company built the Ola Futurefactory in eight months, reaching a production capacity of one million units per year as of October 31, 2023. It spans across 417 acres of land in Krishnagiri, Tamil Nadu, and is the largest integrated and automated E2W manufacturing plant in India by production capacity.
The Ola Futurefactory is an automated manufacturing facility equipped with modular assembly lines across motor, battery, and welding and has an in-house paint shop. This vertical integration allows the company to maintain quality control while achieving economies of scale in production.
Beyond vehicle manufacturing, Ola Electric is pioneering battery cell production in India. The company has designed and is building its Ola Gigafactory for cell manufacturing, planning to manufacture the 4680 cell at scale at the Ola Gigafactory, which is currently under construction. They commenced manufacturing the 4680-form factor cells at the Ola Gigafactory on March 22, 2024.
Ola Electric's product strategy centers around comprehensive electric mobility solutions. Built on the advanced Gen 3 platform, the all-new portfolio now starts at ₹79,999 for the S1 X (2kWh) and goes up to ₹1,69,999 for the S1 Pro+ 5.3kWh. The Gen 3 platform delivers the next level of performance, efficiency, safety, and reliability.
The entire portfolio now sports a mid-drive motor and chain drive for optimized performance and reliability, and an integrated motor control unit for better range and efficiency. Compared to Gen 2, Gen 3 offers a 20% increase in peak power, an 11% reduction in cost, and a 20% increase in range.
The company has also expanded beyond scooters with plans for electric motorcycles. Ola has announced four models—Diamondhead, Adventure, Roadster, and Cruiser—designed to meet different consumer preferences and expected to launch by the end of 2024. These motorcycles reflect Ola's commitment to style and advanced engineering in the EV segment.
Ola Electric's financial journey reflects the typical growth trajectory of a scaling technology company. The market capitalization of Ola Electric Mobility Ltd (OLAELEC) is ₹17,437.15 Crore as of July 7, 2025. Revenue stands at ₹611.00 Crore as on March 2025 (Q4 FY25) with a Net Profit of ₹-870.00 Crore as on March 2025 (Q4 FY25).
On a full-year basis, the company's consolidated net loss widened to ₹2,276 Crore in FY25 compared with ₹1,584 Crore in FY24. Revenue from operations fell 9.9% to ₹4,514 Crore in FY25, compared with ₹5,010 Crore in FY24.
However, the company has shown resilience in operational improvements. Through Project Vistaar and Project Lakshya, Ola has reduced its auto segment EBITDA break-even point to under 25,000 units per month. With increasing S1 market share, new motorcycle launches, and improving cost metrics, the company aims to achieve auto segment EBITDA profitability in FY26.
For Q1 FY26, management anticipates a recovery, projecting revenues of ₹800-850 Crore and improved gross margins of 28-30%, driven by operational enhancements and the upcoming Gen 3 product line. The company expects adjusted revenue between ₹800 Crore and ₹850 Crore, deliveries of 65,000 units, and an auto EBITDA margin of negative 10% in Q1 FY26.
- Market Cap: ₹17,437 Crore (as of July 7, 2025)
- Revenue (Q4 FY25): ₹611 Crore
- Net Loss (Q4 FY25): ₹870 Crore
- Annual Revenue (FY25): ₹4,514 Crore
- Annual Net Loss (FY25): ₹2,276 Crore
- 52-week High: ₹157.40
- 52-week Low: ₹40.40
Ola Electric's strategy focuses on achieving sustainable profitability through operational excellence and market expansion. In Q4 FY25, the company faced operational challenges, including a one-time registration issue that impacted revenue recognition, yet it reported a solid order intake of over 25,000, reflecting strong market demand.
The company's vertical integration strategy extends to battery technology development. In July 2022, CEO Bhavish Aggarwal announced that the company was building Battery Innovation Center (BIC) in Bangalore, which would be Asia's largest cell R&D facility, with an investment of $500 million. In October 2023, the company raised $140 million in equity and $240 million in debt, at a valuation of $5.4 billion, to set up a lithium-ion battery manufacturing facility in Tamil Nadu called Ola Gigafactory.
Looking ahead, despite recent losses and warranty provisions, strategic initiatives in cost reduction and vertical integration are expected to lower the break-even point to 25,000 units. The company is also focused on expanding its retail presence and enhancing product quality, positioning itself for future growth in the competitive electric vehicle market.
Ola Electric's comprehensive approach to electric mobility, combining manufacturing excellence, technology innovation, and strategic market positioning, makes it a significant player in India's transition to sustainable transportation. While the company continues to invest heavily in growth and faces near-term profitability challenges, its market leadership position and expanding product portfolio provide a foundation for long-term success in the rapidly evolving electric vehicle sector.
