India’s largest EV company struggles to maintain its edge as legacy players tap into customer trust and brand loyalty.

Ola Electric dominated the EV sector for the first five years, attracting big investments and outshining established mobility companies. Its present decline—where shares hit an all-time low on March 3, down more than 60% from its peak in August 2024—reflects both waning investor hype and internal strife arising from unsustainable growth!

Ola is also facing tough competition from legacy two-wheeler giants like Bajaj Auto and TVS Motor, as well as the promising startup Ather, along with piling customer complaints against Ola’s scooters!

Dr D Dhanuraj, Founder-Chairman of Centre for Public Policy Research (CPPR), in speaking to Rest of World on the topic, shared his insights.

“Ola’s early competitive advantage as a first mover has diminished as established two-wheeler manufacturers have entered the electric vehicle space. Brand trustworthiness and loyalty are now challenged by these older, established players,”

Dhanuraj is quoted as saying.

Read the full article by Rest of World here.

Views expressed by the author are personal and need not reflect or represent the views of the Centre for Public Policy Research.