Ola Electric's dominance fades as Indian e-scooter battle intensifies
Ola Electric logged its lowest monthly sales this year in September, government data showed, as the SoftBank-backed firm sees its dominance eroded by smaller competitors and servicing network challenges.
Ola Electric, which made its stock market debut about two months ago, sold 23,965 vehicles in September, recording a month-on-month decline for the second consecutive month.
Its falling month-on-month sales has seen its market share decline for five straight months to 27% in September, from over 50% in April, the data showed.
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In that period, Ola's closest rivals TVS Motor and Bajaj Auto have narrowed the gap, reporting market share gains for five and three straight months, respectively.
Ola Electric did not respond to a Reuters email seeking comment on the market share loss and its servicing network.
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