Ola Electric launches ‘Ola Insiders’ as it battles falling sales, share price pressure

Ola Electric has launched ‘Ola Insiders’, an exclusive community programme offering benefits of up to ₹50,000 to existing customers, as the electric two-wheeler maker looks to deepen engagement amid declining sales and mounting investor pressure.

The programme, open to over one million Ola riders, allows Gen 1 and Gen 2 customers to upgrade to the latest Gen 3 S1 scooters or Roadster motorcycles with benefits of up to ₹50,000. Existing owners can also purchase an additional Ola vehicle under the same registered name with benefits of up to ₹20,000, while referrals can earn up to ₹5,000 in Ola credits, with ₹1,000 cashback for the referred buyer.

The initiative comes at a time when Ola Electric has been under scrutiny for weakening market share and a sharp correction in its stock price. The company’s shares have fallen steeply from their post-listing highs, eroding investor wealth and reflecting concerns over execution, profitability and intensifying competition in India’s electric two-wheeler market.

Sales and market share concerns

Ola Electric has been trailing competitors in monthly electric two-wheeler sales, slipping from its earlier position as segment leader. The company has faced rising competition from established players such as TVS Motor, Bajaj Auto and Ather Energy, as well as emerging brands.

In response to slowing volumes and cost pressures, Ola has reportedly rationalised its physical retail footprint, trimming store expansion plans as part of a broader operational recalibration.

Against this backdrop, the launch of Ola Insiders appears aimed at boosting customer retention, encouraging upgrades to higher-margin Gen 3 products, and promoting multi-vehicle households within its ecosystem.

An Ola Electric spokesperson said the programme formalises the company’s engagement with its rider base. “With over a million riders, our community remains central to our journey. Ola Insiders supports seamless vehicle upgrades, enables multi-Ola households, and makes it easier for our community to bring more people into electric mobility,” the spokesperson said.

On February 13, the company reported a 55% year-on-year decline in its revenue from operations for the third quarter ended December 31, 2025. Founder and CEO Bhavish Aggarwal said "Q3FY26 marks a structural reset for Ola Electric," where the company delivered a record 34.3% consolidated gross margin. According to the founder's statement post Q3 results, service backlogs have reduced nearly 50%, and the company closes 80% of service requests on the same day.

The company's shares have fallen nearly 20% after the third quarter results were announced. Analysts say sustained recovery in sales momentum and clearer profitability visibility will be key to restoring investor confidence.

Ola currently offers the Gen 3 S1 range across multiple battery configurations, alongside its Roadster X motorcycle lineup. The company continues to highlight its vertically integrated model, anchored by its Tamil Nadu-based Futurefactory and Bengaluru Battery Innovation Centre.