Ola Electric says it registered 3.44 lakh units in FY25, but lags behind Bajaj and TVS

Bhavish Aggarwal-led electric vehicles maker Ola Electric today said it registered 3,44,005 units in the fiscal year 2025 (FY25) with a market share of 30%.

According to data from the VAHAN portal, Ola Electric also recorded 23,430 units sold in March 2025.

March 2025 sales snapshot

While Ola Electric's March numbers indicate a strong presence, Bajaj Auto topped the industry for consecutive months with 34,863 units. TVS followed with 30,454, and Ola Electric came in third, as per VAHAN.

This is not the first time that Bajaj has garnered a larger share of the E2W market. The company, in December last year, had overtaken the Bengaluru-based EV giant for the first time after selling 18,276 units and capturing 24.93% of the market share.

Market share data for March shows Bajaj at 26.76%, TVS at 23.3%, and Ola Electric at 17.9%. Ather Energy continued to gain momentum by selling 15,446 units, and Hero MotoCorp reported 7,977. Greaves, another major player, sold 5,641 units.

Clearing the backlog

Ola Electric confirmed it faced temporary disruptions in February due to a transition to in-house vehicle registrations. The company claimed that it has nearly cleared the February backlog and expects to complete the remaining February–March registrations in April 2025.

"Ola Electric continues to see strong demand across urban and rural markets during March 2025. We've nearly cleared the February backlog and are rapidly scaling operations to complete all pending registrations," Ola Electric's spokesperson said. 

Continued demand and new Gen 3 scooters

Despite registration hurdles, Ola Electric has seen steady demand in both urban and rural markets. The company recently began deliveries of its S1 Gen 3 scooters, which feature a mid-drive motor, chain drive for more reliable performance, and an integrated motor control unit to enhance range and efficiency.

Ola said this new design offers 20% more peak power, 11% lower costs, and 20% more range compared with its previous generation.

The Gen 3 platform also introduces the category-first dual ABS (Anti-lock Braking System), and patented brake-by-wire technology for EV scooters which applies brakes based on the brake position sensor and dynamically modulates the type of braking between regenerative and mechanical braking.

This patented technology, which the company claims, offers unmatched safety, control, and highly efficient braking in all riding conditions and increases energy recovery by 20%.

The S1 Gen 3 lineup starts at Rs 79,999 for the 2kWh model and goes up to Rs 1,69,999 for the top-end S1 Pro+ 5.3kWh variant, featuring Ola's 4680 Bharat Cell.

"The response to our Gen 3 portfolio has been phenomenal, exceeding all expectations and pushing us to significantly ramp up production. At Ola, we remain focused on execution excellence and delivering a seamless ownership experience as we drive India's EV revolution forward," the company's spokesperson added.