Indian two-wheeler maker Ola Electric's quarterly loss narrows on cost curbs (updated)

Ola Electric Mobility

20/05/2026 11:42

Adds fist-quarter order forecast in third bullet

May 20 (Reuters) - India's Ola Electric OLAE.NS reported a narrower quarterly loss on Wednesday, as the electric two-wheeler maker reined in costs amid rising competition in a fast-growing market.

Here are some details:

The company posted a net loss of 5 billion rupees ($51.6 million) in the January-March quarter, compared with a loss of 8.7 billion rupees a year earlier

Ola Electric reported a 60.6% decline in quarterly delivery volumes to 20,256 units; brokerage Ambit Capital estimated volumes fell 53.3% year-over-year

Ola expects first-quarter FY27 orders to nearly double from fourth-quarter levels to between 40,000 and 45,000 units, reflecting a recovery in demand

The SoftBank-backed company said operating expenses, including lease rentals, nearly halved to 4.28 billion rupees and expects quarterly lease costs to fall further to about 3.5 billion rupees

The firm last week said it would invest $208.5 million in its core vehicle and cell units in a bid to localise manufacturing

The firm is relying on automation, job cuts and increasing in-house EV cell production to bring down operating costs

Ola used to lead India's electric two-wheeler market but has dropped in the ranking as complaints about its service centres drew regulatory scrutiny

The company has cut prices for its flagship e-motorcycle and plans to launch a new cost-efficient line of EV two-wheeler models to boost sales

($1 = 96.8050 Indian rupees)

 (Reporting by Abhinav Parmar and Nishit Navin in Bengaluru; Editing by Mrigank Dhaniwala and Tasim Zahid)

 ((Abhinav.Parmar@thomsonreuters.com;))