Abichandani said the company is on track to significantly expand its product portfolio, and market share will be a result of continued expansion in distribution and product availability.
“We have reported a market share of 28% for February. We continue to see strong momentum going into March, and with new products, this will only get better in the new financial year,” he said.
The company has completed the implementation of its network transformation and operating expense (OpEx) reduction programme, resulting in a cost reduction of ₹90 crore per month. The full financial impact of these initiatives will be reflected in April 2025.
Abichandani also stated that Ola Electric’s new initiatives have reduced average vehicle inventory to 20 days from 35 days, while customer delivery time has come down from 12 days to 3-4 days. He emphasised that further improvements are expected as the company continues refining its distribution network.
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On profitability, he said that while earnings before interest, taxes, depreciation and amortisation (EBITDA) break-even was initially tied to reaching 50,000 monthly deliveries, stronger-than-expected cost efficiencies could accelerate profitability. “We have actually done significantly more on cost than even envisaged and planned, and the goalpost could shift positively towards profitability much earlier,” he said.
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Ola Electric remains focused on improving operational efficiencies and expanding its product lineup, including upcoming motorcycles. The company is committed to achieving profitability in the April-June quarter of 2025 (Q1FY26). “Path to profitability is something we will deliver by Q1 of FY26,” he stated.
The market capitalisation of Ola Electric Mobility is around ₹22,671.67 crore. Its shares have declined close to 55% in the past six months.
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(Edited by : Unnikrishnan)