Ola Electrical chairman and managing director Bhavish Aggarwal on Friday stated the electrical automobile maker’s service-related challenges have impacted model belief.
“We do have a service problem. That has impacted model belief,” Aggarwal informed traders after the EV maker introduced its third-quarter earnings.
Ola Electrical has witnessed a constant decline in market share over the previous three months with retail gross sales falling beneath the ten,000 models mark for the third straight month in January. Ola recorded 7,516 EV registrations in January, rating fifth when it comes to gross sales behind TVS Motor, Bajaj Auto, Ather Vitality, and Hero MotoCorp, in keeping with VAHAN knowledge. Its pure-play EV rival Ather bought round 3 times extra electrical two-wheelers final month.
Aggarwal, as soon as the poster boy of India’s electrification journey, stated his firm now plans to rebuild the model belief.
“Model belief will take a while to get better,” Aggarwal acknowledged, stating that it’s going to take one other quarter to repair service challenges. “Volumes have elevated in areas the place we’ve solved service challenges,” stated Aggarwal.
In a shareholders’ letter, Ola Electrical claimed that it has decreased service backlogs by practically half, from 14 days in November to 7–8 days presently, and with additional reductions underway. “We are actually finishing 80% of service tickets on the identical day,” it stated.
Ola Electrical’s income shrank 55% to Rs 470 crore for the third quarter whereas its internet loss narrowed to Rs 487 crore in Q3 2025-26 from Rs 564 crore within the year-ago interval.
“As gross sales get better, we are going to see a quicker roadmap to profitability,” stated Aggarwal, including that he’s not fearful in regards to the decline in market share within the short-term.
Current gross sales softness was pushed by service notion moderately than product competitiveness, the corporate stated in its shareholders’ letter. “As service metrics normalise and volumes get better, the mix of improved margins and a structurally decrease price base materially accelerates our path to profitability,” it stated.
On battery cell gigafactory, Aggarwal stated Ola Electrical goes to faucet into the vitality storage necessities in India and globally. “We’re the one Indian firm to have operationalized the gigafactory. It highlights the corporate’s robust functionality, expertise and manufacturing power,” he stated.
Ola Electrical is presently working at 2.5 GWh of put in capability. It plans to scale it as much as 6 GWh by March 2026. Over the following 12 months, the corporate plans to extend in-house cell penetration throughout our automotive portfolio, deepen vertical integration and enhance unit economics.
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