Ola Electric Sees Sharp Rebound in Daily Registrations

Ola Electric's daily vehicle registrations have surged dramatically to 860 units by March 10, 2025, following a planned temporary dip that saw numbers fall as low as 16 in mid-February, according to the latest data.

The sharp recovery comes after the company had forewarned investors about an expected decrease in February registrations on the VAHAN portal due to ongoing renegotiations with its registration agencies. In a regulatory filing to the NSE and BSE, Ola Electric had disclosed it was revising terms with Rosmerta Digital Services Private Limited and Shimnit India Private Limited to "reduce cost and enhance registration process efficiencies."

The data shows the registration numbers following exactly the pattern the company had predicted, with figures dropping precipitously in February before beginning a steady recovery from February 25 onward, when daily registrations stood at 86 units. By early March, this figure had risen to 326, before accelerating rapidly to 698 and finally reaching 860 by March 10—a more than 50-fold increase from the February low point.

"The dip in registration will be streamlined in the next few weeks," the company had stated in its February filing, a prediction that appears to have been validated by the current rebound. Ola Electric had emphasized that despite the registration slowdown, actual sales remained strong throughout February.

This registration recovery comes at a critical time for the Bengaluru-based manufacturer, which has seen its market share contract from 52% in April 2024 to around a quarter in February 2025 amid increasing competition from traditional automotive players like TVS and Bajaj. These established manufacturers have been expanding their product offerings and service networks while Ola continues heavy investment in manufacturing capacity and a lithium-ion cell facility.

The company has been under pressure from both investors and consumers following its high-profile IPO in August 2024. Despite a stock price that dipped below ₹100 in late 2024, Aggarwal has remained confident about the company's prospects, pointing to upcoming product launches including the Gen 3 scooter portfolio and the affordable S1Z and Gig models scheduled for delivery in April 2025.

The recovery, if sustained, could signal a significant shift in Ola's fortunes, but it still faces stiff competition from established players like Bajaj Auto and TVS Motor Company, who have been rapidly gaining ground in the electric two-wheeler segment.

While daily registration numbers show promise, the company still has ground to recover before reclaiming its former market dominance. The current daily registration rate of 860 units still implies monthly registrations of less than 30,000 units.

As the electric vehicle market in India continues to evolve, all eyes will be on whether Ola Electric can maintain this upward trajectory and translate improved daily registrations into restored market share and investor confidence.