Ola Electric's dominance in the electric two-wheeler market in India has been dented. The company slipped to third place in May 2025. TVS Motor came in first and Bajaj Auto came in second.

Ola's market share fell to 20% in the first 26 days of May. It had risen to 22.1% in April, but it has declined further. A year ago, Ola had over 50% of the market.

Ola sold 15,221 scooters in May 2025. This is 60% less than the 37,388 sold in May 2024. TVS Motor now has 25% of the market. Bajaj Auto has 22.6%. Both have seen a slight decline in sales but have taken the lead in gaining market share.

Ather Energy also saw a decline. Its market share fell from 14.9% in April to 13.1% in May.

Ola Electric is currently facing several problems. The government is examining the way the company reports sales. There are questions about vehicle quality and missing documents at some dealerships. CEO Bhavish Agarwal had promised to sell 50,000 vehicles per month. But Ola is far behind that target.

To raise money, Ola's board has approved a plan to borrow up to ₹1,700 crore. This is the first time the company has raised funds since going public in August 2024. On Tuesday, Ola's share price was ₹52.49. That is significantly lower than its IPO price of ₹76.

Despite this, Ola has started delivering its first electric bike, the Roadster X. It comes in two models with different battery options.

Financially, Ola is still struggling. The company lost ₹564 crore from October to December 2024. This is 50% more than the previous year. Its revenue also fell by 19%. Ola has not yet shared its results for the last quarter of fiscal 2025.