Ola Electric, a leading electric vehicle manufacturer in the country, expects to become EBITDA breakeven for its automotive business by Q1 FY2026. This the company shared is based on the Network Transformation and OPEX Reduction Program introduced in November 2024.

The initiative has enabled the company to reduce its monthly expenditure by INR 900 million. The program includes rationalisation of its distribution network by shutting all regional warehouses and shipping vehicles, spare parts and accessories from the factory directly to stores, automating registration & other processes, and productivity improvements in the sales and service network.

This has also reduced the average vehicle inventory to 20 days and delivery time to customers to 3-4 days, in comparison to 35 days and 12 days respectively.

Ola Electric also shared that its vehicle registration process transformation is in its final stages.

Benglauru-based electric vehicle manufacturer Ola Electric has commenced deliveries for its S1 Gen 3 scooter portfolio across India. The S1 Gen 3 portfolio includes the flagship S1 Pro+ along with S1 Pro and S1 X.

The S1 Pro+ comes with two battery options 5.3kWh and 4kWh and is powered by a 13kW motor, which comes with claimed top speed of 141 kmph and 128 kmph respectively with a brisk acceleration of 0-40 kmph in just 2.1 and 2.3 seconds. The S1 Pro has a claimed range of 320km (IDC), while the 4kWh S1 Pro+ comes with claimed 242km (IDC). The e-scooter has four riding modes – Hyper, Sports, Normal and Eco – and gets dual ABS and disk brakes in front and rear

Ola Spokesperson, Ola Electric said, "The overwhelming response to our S1 Gen 3 scooters reaffirms our commitment to accelerating India's transition to electric mobility. We're excited for our customers to experience the superior performance, enhanced safety features, and improved efficiency that the Gen 3 portfolio offers."

The company claims the Gen 3 platform now sports a mid-drive motor and chain drive for optimised performance and reliability and an integrated MCU (Motor Control Unit) for better range and efficiency. Compared to the previous generation e-scooters, the Gen 3 offers 20 percent increase in peak power, 11 percent cost savings and 20 percent higher range.

Ola Electric shared that the Gen 3 platform also comes with category-first dual ABS (Anti-lock Braking System) and patented brake-by-wire technology for e-scooters.

On the other hand, the S1 Pro is powered by an 11 kW mid-drive motor, offers 4kWh and 3kWh variants with top speeds of 125 kmph and 117 kmph. It has a claimed range of 242 km and 176 km (IDC) respectively. Both accelerate 0-40 kmph in 2.7 seconds, featuring four riding modes – Hyper, Sports, Normal and Eco – plus single ABS and dual disc brakes. Available in Porcelain White, Industrial Silver, Jet Black, Stellar Blue and Midnight Blue, the S1 X+ flagship matches the 4kWh S1 Pro’s 125 kmph speed and 242 km range, adding new seat foam, sporty decals, a 4.3-inch display, a front disc brake, and colour options like Passion Red.

The S1 X, aimed at value-conscious buyers, comes in 4kWh, 3kWh and 2kWh variants with a 7kW motor, hitting claimed top speeds of 123 kmph, 115 kmph and 101 kmph, and ranges of 242 km, 176 km and 108 km (IDC). These accelerate 0-40 kmph in 3.0, 3.1 and 3.4 seconds, with a 4.3-inch display, decals, improved seating and four riding modes, available in five colours. The new Roadster X series starts at INR 74,999, with the Roadster X+ 4.5kWh at INR 104,999 and the 9.1kWh model (4680 Bharat Cell) at INR 154,999, offering a 501 km range.

Montra Electric’s e-SCV Division, Tivolt Electric Vehicles has inked a strategic collaboration with Steam-A. The understanding will see the OEM integrate Steam-A’s Iris EV charging management suite into Powerdock its EV charging network.

This will enable a seamless and reliable charging operation for Montra Electric, where it will leverage advanced software to get real-time operational insight, AI-driven predictive maintenance and seamless EV roaming capabilities. Steam-A will bring to the table AI-enabled predictive failure management system, which will maximise charger uptime and network availability.

A standout feature of Iris is its industry-first AI-enabled predictive failure management system, seamlessly integrated with a comprehensive asset and workflow management suite. This innovation significantly reduces operational costs while maximizing charger uptime and network availability. Additionally, the platform delivers deep analytical insights into network performance, facilitating continuous service enhancements and business growth.

Saju Nair, Chief Executive Officer, Tivolt Electric Vehicles, said, “We are excited to join hands with Steam-A. Our vision at Montra Electric is to drive electrification in commercial logistics and empower customers to transition to electric mobility with confidence. By integrating Steam-A’s Iris platform into our Powerdock network, we are strengthening our commitment to innovation and customer-first solutions. This collaboration will drive greater EV adoption while delivering a seamless and effortless experience for our customers.”

Vishwanath Surendiran, Co-Founder, Steam-A, said, “We are thrilled to partner with Montra Electric on their journey of making mobility more sustainable. Earning the trust of such a longstanding organization fills us with pride and a heightened sense of responsibility. We will go all out to deliver industry-leading standards of reliability and customer experience.”

Bengaluru-based electric two-wheeler manufacturer has issued a statement disputing reports about its February 2025 sales data seeing a massive decline. It claims that the mismatch between the company’s wholesale and retail sales data is due to the ongoing negotiations between the EV maker and its vendors responsible for vehicle registrations.

For context, Ola Electric shared that in February 2025 it sold over 25,000 electric two-wheelers, garnering a market share of 28 percent. But on the other hand, as per Vahan data, the company’s retail sales came at just 8,652 units, a mismatch of 16,348 units.

This the company stated was due to backlog created due to vendors responsible for vehicle registrations, which was ‘being rapidly cleared’. Ola Electric stated that its daily registrations have exceeded 50 percent of its average sales in the last three months. As of date, it said that it has managed to clear 40 percent of the February backlog and expects to fully clear the same by end-March 2025.

The issue was further intensified as Rosmerta Digital Services, a key vendor responsible for Ola Electric’s registration, filed an insolvency petition against the company before the National Company Law Tribunal (NCLT), alleging that the electric two-wheeler maker defaulted on payments for the services provided.

A statement by Ola Electric stated that ‘certain media outlets and vested interests have deliberately misrepresented it as a regulatory issue through misinformation and smear campaigns. This intensified after we discontinued contracts with two nationwide vendors managing our registration process as part of our strategy to streamline operations and drive profitability. Since then, a coordinated effort has been made to create confusion and trigger unnecessary scrutiny.’

Hero MotoCorp, the world's largest two-wheeler manufacturer, has now forayed in the electric three-wheeler and four-wheeler space by acquiring 32.5 percent stake in Delhi-NCR-based Euler Motors.

The company is set to acquire the stake for INR 5.25 billion through Equity Shares and Series D Compulsory Convertible Preference Shares. It is also open to acquiring more stake from existing shareholders through secondary sale.

It was in January 2025, Euler Motors had raised USD 20 million in debt from responAbility Investments. At present, Euler Motors has an integrated manufacturing and R&D facility in Palwal, Haryana. Spread across 500,000 square feet the plant with a production capacity of 36,000 units annually has been built with an investment of INR 1 billion.

This move, Hero MotoCorp shared was part of its vision to ‘Be the Future of Mobility’.

Dr Pawan Munjal, Executive Chairman, Hero MotoCorp, said, “Our strategic investment in Euler is a bold step towards realising our vision to ‘Be the Future of Mobility.’ This investment reinforces our commitment to accelerated growth through both organic and inorganic expansion, while highlighting the power of collaboration and adaptability in an ever-evolving market. As a global automotive leader, Hero MotoCorp is driven by sustainability, innovation and customer-centric progress. As we strengthen and diversify our presence in emerging mobility landscape, this investment allows Hero MotoCorp to venture into a rapidly growing electric three and four-wheeler market, while unlocking adjacent business opportunities and continuing to cement its leadership in the future of sustainable mobility.”

The company expects electric vehicles to constitute 35 percent of three-wheeler sales in the country. With presence in around 30 cities, Euler Motors has established itself as a serious player in the electric three-wheeler and four-wheeler segment.

Till date, Euler Motors has sold around 8,000 electric vehicles, which includes 3,536 units in CY2024 alone. As of FY2024, the company reported revenue of INR 1.72 billion, which was a massive jump of 251 percent, as against INR 490 million in FY2023.