Ola Electric's Delay in Financials

After a delay of almost a year Ola Electric finally released its financials this week. The company was valued at $5 billion last year and so far it has raised nearly $800 million from investors, including Softbank. With a 40% market share, it is the leader of the two-wheeler EV market in India. It has already sold over 250,000 vehicles.

Ola Electric has set up 600 experience centres around the country where people can go take test rides. But the company only has 200 service centres. Its lack of focus towards after-sales servicing is upsetting customers. Plus, the financials point towards a 4X loss in FY 2022.

Meanwhile, its competitors like Ather and Bajaj are strategically going for a service-first policy.

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