Ola Electric's Worrying Wobble
Image Credit: Ola Electric.
You know that feeling when you see a wunderkind, that brilliant kid who aces every test and scores winning goals, and you just know they're destined for greatness? You cheer for them, you champion them, you tell all your friends, "See? I told you they were special." That, my friends, was Ola Electric for me.
When the S1 scooter first burst onto the scene, I was literally smitten. It felt like Ola had read my secret diary. The S1 was stylish, packed with clever tech, and actually affordable. Ola seemed to have cracked the code - they were making electric mobility cool and accessible, and I was quietly hoping they'd bring their magic show to our part of the world.
Image Credit: Ola Electric.
But, as anyone who's ever been in a promising new relationship knows, the honeymoon phase doesn't last forever. After the shiny launch parties and grand pronouncements, the fairy tale started to show some cracks. Whispers from customers turned into frustrated shouts. It turns out, building a zippy scooter is one thing; making sure it doesn't fall apart is a little, but very important detail.
Reports started coming in about suspension parts that apparently had a disagreement with the concept of gravity, and electrical glitches that left riders stranded, probably contemplating the irony of being stuck on a vehicle meant to represent the future.
Image Credit: Ola Electric.
The after-sales service seemed to have been caught completely off guard. Owners were waiting weeks for basic fixes, and the goodwill started to evaporate faster than a puddle in July. Things got so heated, one person set an entire dealership on fire. I'm not condoning it, but you have to admit, that's a level of customer feedback that's hard to ignore.
Unfortunately for Ola, the numbers are in, and they're telling a rather dramatic story. For the first three months of 2025, Ola posted a net loss of about $104 million - that's more than double what they lost in the same period last year. It seems they've accidentally perfected the art of losing money at an accelerated pace. Sales also took a nosedive, plummeting 55% from the previous quarter, from a healthy 115,000 scooters down to just over 51,000. Yikes.
Image Credit: Ola Electric.
What happened? Did everyone in India suddenly decide they preferred walking? Not quite. The competition woke up, smelled the coffee, and started brewing a better pot. Established players like Bajaj, TVS, and Ather, who may not have had Ola's initial razzle-dazzle, had something far more valuable: trust. They have nationwide dealer networks, reliable service, and a decades of reputation for not leaving you stranded on the side of the road.
And now, as if Ola wasn't under enough pressure already, the big boys are stepping onto the field. Honda and Suzuki are bringing their top game to the table. They're the automotive equivalent of Meryl Streep and Tom Hanks. They show up, they do the job flawlessly, and everyone loves them. Honda is already setting up EV-only showrooms and investing in swappable battery tech. Suzuki's Burgman Electric is already being spotted on-road tests. The cozy little pond Ola was swimming in is about to become a shark tank.
Image Credit: Ola Electric.
To be fair, Ola insists it's still the top dog, claiming they delivered over 350,000 scooters in the last fiscal year. They've also got plans for new electric motorcycles, which is ambitious and exciting. But trying to launch new products while your current customers are forming picket lines (or allegedly committing arson) is a tricky balancing act. Try baking a soufflé during an earthquake, and you'll get the idea.
What's next for our former golden child? Honestly, your guess is as good as mine. This could be the wake-up call they need to sort out their growing pains, fix their service, and earn back the trust they lost. Or, it could be a cautionary tale of a tech startup that flew a little too close to the sun on wings made of hype and venture capital. Either way, I'll be watching from the stands, popcorn in hand. I'm still rooting for them because a world with more fun, affordable EVs is a world I want to live in.
