Ola Electric, which entered the Indian electric bike market with great fanfare, has suffered a major setback. The company, which once held the top spot in the country's electric bike sales, is now losing its influence.
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E-Scooter Sales Drop
Ola Electric, which held about 50-52% market share at the beginning of 2024, has now seen a major decline. TVS Motor and Bajaj Auto are leading the charge.
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TVS Motor Leads
TVS and Bajaj currently control about 48% of the electric bike market. Ather Energy has also strengthened and sold 5,360 units in the first half of January.
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Bajaj Auto Gains Share
To address its declining market share, Ola Electric announced a 72-hour discount offer. However, the impact of these measures remains uncertain. Meanwhile, Ola Electric is under regulatory scrutiny.
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Ola Faces Scrutiny
The Karnataka High Court recently upheld the legality of the investigation into the cases against Ola and ordered Ola to comply with document requests.
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Electric Bike Market Shift
Ola has risen to become a market leader in the Indian electric bike industry in a short period. However, the company is now facing many challenges.
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