In Maharashtra, the largest state in terms of EV volumes, Ola's market share slipped to 15.6%, placing it in third position behind Bajaj Auto and TVS Motor. Uttar Pradesh, previously a stronghold for Ola, witnessed a sharp 10.1 percentage point drop in market share, leaving the company with 33.9%. Despite this, Ola regained its leading position in Karnataka, where it now holds the top spot ahead of Ather Energy.
Ola’s aggressive discounting comes as incumbents like Bajaj Auto and TVS Motor ramp up their presence in the EV market, leading to heightened competition. The company has lost its leading position in five of the top 10 states for electric two-wheeler sales, indicating a broader challenge in maintaining its market dominance. In Tamil Nadu and Kerala, competitors like TVS Motor and Ather Energy have overtaken Ola.
To address declining sales and customer concerns, Ola Electric has also been working on expanding its service network. In September, the company launched its #HyperService campaign, which aims to double its service centres to 1,000 by December 2024. Ola has also introduced AI-based proactive maintenance and diagnostics, aiming to improve the after-sales experience for its customers.