Ola Electric, a leading electric two-wheeler maker in the country, has announced its financial results for FY2025. Although the company continued its leadership position in the market, its revenue fell marginally to INR 46.45 billion in FY2025 from INR 51.26 billion last year.

In spite of the revenue drop, Ola Electric continued its leadership in the electric scooter segment, shipping 359,221 units in FY2025, compared to 329,549 units in FY2024. The growth came mainly from the strong performance of its enhanced Gen 3 S1 scooter range, allowing the firm to attain 30 percent market share, based on VAHAN data.

The company stated it is making a big push towards profitability, led by two main internal initiatives: ‘Project Lakshya’ and ‘Project Vistaar.’

Under Project Lakshya, Ola Electric has a target cost structure of INR 1.10 billion for its auto business. The company has been able to bring down costs impressively to INR 1.21 billion in April 2025 and is likely to reach the INR 1.10 billion target in June 2025.

To supplement this, Project Vistaar, launched in November 2024, was network transformation-centric. The effort has significantly enhanced delivery time (from 12 days to 3-4 days), optimised inventory management and facilitated same-day delivery through its "HyperDelivery’ facility. Consequently, Ola Electric grew its footprint to emerge as India's largest EV distribution network in FY2025 with over 4,000 touchpoints, of which over 50 percent were in Tier 3 and rural markets.

These strategic actions have helped Ola Electric lower its auto segment EBITDA break-point structurally to below 25,000 units per month. This reduced level, combined with expected industry expansion, growing S1 market share, and the recent launch of motorcycles, sets the company up to achieve Auto segment EBITDA profitability during FY2026.

Ola Electric stated that early signs in April and May 2025 indicate encouraging business traction, with higher Gross Margins (excluding the benefits of PLI) and lower operating expenses. The company also noted stronger monetisation through add-ons, with Gen 3 sales more than doubling that of Gen 2. Encouraging demand for the recently launched Roadster Motorcycles is also supporting this encouraging trend. It expects this healthy performance to sustain, resulting in Auto segment EBITDA profitability in FY2026.

The launch of the Gen 3 S1 portfolio in Q4 FY2025 contributed significantly to the company's enhanced Gross Margins. For Q1 FY2026 posted a further 10 percentage point increase in Gross Margins over Q4 FY2025. This result will benefit further from the ramp-up in the Gen 3 platform. Significantly, the gross margins as of date do not account for PLI benefits for Gen 3, which will accrue in Q2 FY26. The company estimates its Gross Margins to be around 35 percent for Q2 FY2026 with PLI.

Ola Electric's S1 lineup continues to be extensive, with almost 1 million units sold in 14 products in Gen 2 and Gen 3. The Gen 3 platform provides 20 percent more peak power, 20 percent more range and an 11 percent price cut compared to its predecessor. The company further pushed mass segment EV penetration via its S1 X, which experienced a 3.5x year-on-year rise in deliveries to 196,123 units in FY25.

It was just recently that the company has begun deliveries for the Roadster X electric motorcycle, which it said addresses a significantly underpenetrated segment. The Roadster X comes with a mid-drive motor, chain drive, and onboard MCU for improved performance and safety. A first in the industry in the Roadster X series is the implementation of flat cables in the motorcycles.

The company is also scaling up output at its Ola Gigafactory, with the yields of its indigenously created ‘Bharat Cell’ continuing to improve. The cell is under rigorous testing of performance, lifecycle, safety and phased commercialisation can be anticipated in the months ahead. The phased rollout strategy is designed to balance supply chain synergies, maintain quality consistency and collect real-world performance data prior to mass commercialisation.

Ola Electric indicates that FY2026 will be a year of scaling revenue and riding operating efficiencies to drive sustainable profitability. With a strong product roadmap, vertical integration, strong R&D emphasis and building out distribution and service infrastructure.

Comments (0)

ADD COMMENT

Link Copied!

CUPRA has unveiled an evolved version of its first all-electric model, the CUPRA Born, reinforcing the brand’s commitment to challenging conventions. The vehicle has been comprehensively re-engineered to offer a more intense and emotionally engaging driving experience, marked by striking exterior updates, a refined cabin and enhanced technology.

The exterior evolution embraces CUPRA’s dynamic design language, featuring newly sculpted front and rear bumpers. Distinctive triangular Matrix LED headlights complement a prominent illuminated CUPRA logo, which is now seamlessly integrated into the three-dimensional rear light cluster, enhancing the car’s visual presence.

On the interior front, the focus is on driver engagement and elevated quality. A redesigned steering wheel now incorporates intuitive physical controls, while new door panels contribute to a more premium feel. The immersive digital environment is amplified by a larger 10.25-inch digital cockpit, supported by an augmented reality head-up display. The auditory experience has also been transformed, with a Sennheiser Contrabass sound system delivering deep, immersive bass, while a newly developed Interior Sound Signature strengthens the connection between the driver and the machine.

Performance remains a core pillar, with the new Born intensifying every journey through its hallmark electrifying dynamics. Drivers can select from four distinct motor and battery configurations. Features such as launch control, a new One Pedal Driving System and wider tyres for both 19- and 20-inch wheels further sharpen the driving experience. This performance is matched by an updated suite of safety systems, including Travel Assist 3.0 with cloud-enhanced functionality, new Crossroad Assist, an upgraded Front Assist and pre-crash protection with rear detection.

The new Born offers flexible powertrain choices to suit different needs. The V1 and V2 versions, equipped with a 58-kWh battery, achieve an estimated range of around 279 miles (approximately 449 km). For extended range, both these models and the range-topping VZ version can be specified with a 79-kWh battery, targeting approximately 372 miles (approximately 598 km). Personalisation is available through six exterior colours, including the newly introduced Timanfaya Grey.

Comments (0)

ADD COMMENT

Link Copied!

Hyderabad-based electric vehicle company Keto Motors has secured CMVR Type Approval Certification from the Global Automotive Research Centre (GARC) for its nine-metre Urbanova KE9 electric bus. The certification confirms the vehicle's compliance with safety and performance standards, including structural integrity and range efficiency.

The company is now initiating customer demonstrations and preparing for deployments across State Transport Undertakings (STUs), school fleets and employee transportation providers.

The Urbanova KE9 is engineered for urban mobility and smart city networks. Through a technology partnership with TRON, a Taiwanese E-bus OEM, Keto Motors utilises liquid-cooled battery technology, a self-developed Battery Management System (BMS) and Fleet Management Systems (FMS).

The e-bus features a 245 kW liquid-cooled PMSM motor delivering 3000 Nm of torque.  A claimed cruise range of 188 km (IDC) and a top speed of 80 kmph. It can accommodate 31 seated and 11 standing passengers. It supports CCS2 fast charging support, regenerative braking, ABS and air suspension.

The company aims to start production in early FY2027 at the company’s 20-acre facility in Jadcherla, Telangana. The plant features in-house bus body manufacturing and testing systems, with an annual capacity of 1,000 units.

In addition to the nine-metre model, Keto Motors is developing 12-metre and 6-metre platforms to expand its presence across the public transport sector.

Venkatesh Challa, Director of Keto Motors, said, “Securing CMVR Type Approval for the Urbanova KE9 is a defining milestone for Keto Motors. This certification reinforces our commitment to delivering dependable, high-performance electric mobility solutions designed specifically for Indian roads and fleet operators. With approvals in place, we are now focused on accelerating customer deployments and supporting India’s transition toward clean, zero-emission public transport.”

Comments (0)

ADD COMMENT

Link Copied!

Bengaluru-based electric vehicle start-up Ultraviolette Automotive has introduced Battery Flex a Battery-as-a-Service (BaaS) programme designed to lower the entry cost of its electric motorcycles. The initiative is launched in partnership with Ecofy, a non-banking financial company (NBFC) specialising in green financing.

Under the new model, the upfront cost of the Ultraviolette X-47 is reduced by 40 percent. Customers can purchase the motorcycle chassis for INR 149,000 and subscribe to the battery for a monthly fee starting at INR 2,499. At the conclusion of the subscription period, ownership of the battery is transferred to the customer at no further expense.

The Battery Flex model is designed to reach price parity with internal combustion engine (ICE) motorcycles. By separating the cost of the battery from the vehicle, the company aims to make performance electric mobility accessible to a broader consumer base.

Narayan Subramaniam, CEO & Co-Founder, Ultraviolette, said, “At INR 250,000, Ultraviolette was at price parity with similarly powered ICE motorcycles. Now, with a starting price of INR 150,000, riders gain access to better technology, features, and performance that outpaces every segment. With operating costs as low as INR 2,499 per month, which is lesser than the average spends on petrol, we are redefining what affordability means in motorcycling. The introduction of Battery Flex makes performance, technology-driven mobility more attainable and practical for riders across India, while keeping the focus firmly on what matters most: the thrill of riding an Ultraviolette.”

Niraj Rajmohan, CTO & Co-Founder, Ultraviolette, added, “Battery technology sits at the core of every electric vehicle, and at Ultraviolette we have invested years of R&D to ensure our batteries deliver uncompromised performance, safety, and longevity. With the launch of Battery Flex, we are extending this innovation to our customers in a way that is both flexible and accessible. It reflects our commitment to building technology that adapts to customer needs and makes performance mobility more practical than ever before.”

Comments (0)

ADD COMMENT

Link Copied!

JSW MG Motor India has announced that its e-Hub by MG app is now the largest unified electric vehicle (EV) charging platform in India. The application has listed more than 22,500 charging points and exceeded 150,000 downloads.

The platform has onboarded 40 charge point operators (CPOs), including Jio-bp, TATA Power, Adani, Shell, Zeon, Charge Zone and BPCL. Since its inception, the app has facilitated the dispensing of 1.5 GWh of energy and the planning of 670,000 trips, covering 300 million kilometres.

The company has introduced updates to the application to assist MG and non-MG EV users. These features are designed to centralise the location, reservation, and payment processes for charging sessions.

The updated app includes smartphone integration, navigation tools, user feedback and network access.

Vinay Raina, Chief Commercial Officer, JSW MG Motor India, said, “It is inspiring to witness the rapidly growing community of EV users, both MG and non-MG customers, embrace the e-Hub by MG app. What excites us the most is how effortlessly it is helping customers navigate their EV journeys, whether planning their long road trips or simply looking for the nearest available charger. By bringing the leading CPOs together on one intuitive platform, e-Hub by MG empowers users with choice, convenience and confidence. As India moves towards a more connected and electrified future, we remain committed to building experiences that make EV ownership effortless.”

Comments (0)

ADD COMMENT

Link Copied!