India’s electric two-wheeler (E2W) market is witnessing a major reshuffle, and one of the biggest shifts is the sharp decline in Ola Electric’s market position. Once considered the flagbearer of India’s EV revolution, the company has seen its market share tumble drastically over the past year. As of January 2026, Ola Electric’s share in the electric two-wheeler segment has dropped to under 6%, marking one of the steepest declines among major EV players.
Sharp Fall Compared to Last Year
According to industry registration data, Ola Electric’s E2W market share slipped to around 5.8% in January 2026. This is a massive fall from nearly 25% recorded in January 2025. The numbers clearly show how quickly the competitive landscape has changed in just twelve months.
In absolute terms, Ola registered only around 5,500 electric scooters in January 2026. This is significantly lower than the volumes it used to clock during its peak phase, when monthly registrations often crossed 30,000 units. Over the past year, Ola’s average market share has hovered in the mid-teens, far below its earlier dominance.
Customer Issues and Operational Challenges
One of the key reasons behind this decline has been persistent concerns related to product quality and after-sales service. Many customers have flagged issues around servicing delays, software glitches, and inconsistent customer support. While the company made several attempts to address these complaints, including expanding its service network and introducing new processes, the impact on brand perception has been difficult to reverse quickly.
Safety-related discussions around electric scooters have also affected buyer sentiment. In a market where first-time EV buyers rely heavily on trust and word of mouth, these challenges have played a major role in slowing down Ola Electric’s momentum.
Temporary Recovery That Didn’t Last
Ola Electric did manage a brief recovery phase during April 2025, when its market share climbed above 21%. However, this rebound proved short-lived. From mid-2025 onwards, the company’s numbers began sliding again as competitors strengthened their offerings and distribution reach.
By the end of 2025 and into January 2026, Ola’s registrations dropped steadily, eventually taking its market share to the lowest level seen in years.
Rivals Strengthen Their Hold
While Ola struggled, other electric two-wheeler manufacturers made strong gains. Ather Energy emerged as one of the biggest beneficiaries, recording strong year-on-year growth and steadily increasing its market share. Its focus on product reliability, premium positioning, and a wider charging network helped it attract urban and semi-urban buyers.
Traditional automotive companies like TVS Motor and Bajaj Auto also consolidated their positions in the EV space. Backed by established dealer networks, manufacturing experience, and brand trust, these players continued to post consistent sales numbers, together commanding a large share of the E2W market.
Impact on Investor Sentiment
The declining market share has also had an impact on Ola Electric’s stock performance. The company’s share price has faced sustained pressure, touching new lows in recent months. Investors appear cautious, closely watching whether Ola can stabilise its operations and regain lost consumer confidence in an increasingly crowded market.
What Lies Ahead for Ola Electric
India’s electric two-wheeler market is still growing, but the race for leadership is far from settled. Customers are now more informed, service-conscious, and willing to switch brands if expectations are not met. For Ola Electric, the road ahead will depend heavily on improving customer experience, strengthening after-sales support, and delivering consistent product quality.
How effectively the company addresses these challenges in 2026 will determine whether this slump is a temporary setback or a longer-term shift in India’s EV story.