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Ola Electric Reviews

Bengaluru, Karnataka

4.5/ 5

2 reviews

Ola Electric Mobility Limited is a prominent Indian electric vehicle (EV) manufacturer headquartered in Bengaluru, Karnataka. Founded in February 2017 by Bhavish Aggarwal, the company originally began as a wholly owned subsidiary of ANI Technologies (the parent entity of Ola Cabs) aimed at reducing emissions and shifting toward mass electric mobility. It has since evolved into a standalone pioneer in India's transition to sustainable transportation, focusing primarily on the design, engineering, and manufacturing of electric two-wheelers and core EV components. The company operates across two major segments: Automotive and Cell manufacturing. Ola Electric designs and manufactures electric scooters, including its flagship Ola S1 series, which features variants like the Ola S1 Air, Ola S1X, and S1 Pro, alongside its newer line of electric motorcycles, the Roadster series. To support its vertically integrated production strategy, the company designs and manufactures its own core components—such as battery packs, electric motors, cells, and vehicle frames—at its massive manufacturing hub located in Krishnagiri, Tamil Nadu. This complex includes the automated 400+ acre Ola Futurefactory, touted as one of the largest two-wheeler production plants in India, and the upcoming Ola Gigafactory, which focuses on developing advanced cell technology like the 4680 Bharat Cell. Additionally, the company operates a dedicated Battery Innovation Center (BIC) in Bengaluru, which acts as a major hub for cell research and development. Financially, Ola Electric is publicly traded on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) under the ticker symbol OLAELEC. For the fiscal year ending March 31, 2024, the company reported a consolidated revenue of ₹5,009 crore (approximately US$520 million), reflecting significant growth, alongside a net loss of ₹1,584 crore (US$170 million) due to ongoing capital expenditures and scale-up investments. By the fiscal year 2026, the company claimed a commanding 50% market share in the electric motorcycle market. The business has attracted substantial venture backing from major global investors, including SoftBank Group, Tiger Global, Matrix India, Temasek Holdings, and the State Bank of India. Founder Bhavish Aggarwal remains a major stakeholder and leads the executive team as Chairman and Group CEO, alongside CFO Deepak Rastogi. As an industry leader, Ola Electric continues to prioritize domestic innovation, registering hundreds of patents in EV technologies, while establishing a pan-India sales and app-driven "Hyperservice" ecosystem to accelerate clean energy adoption across the country.