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Several Ola Electric stores across different regions have already been shut and employees at some locations were asked to leave, according to a report.
Ola Electric Share Price.
Shares of Ola Electric Mobility declined nearly 2% on Friday morning, after an Economic Times report suggested that the electric vehicle maker was planning to cut the number of physical stores to nearly 550 outlets across India by the end of March.
The move comes a year after the Bhavish Aggarwal-led company had announced to expand its retail network to 4,000 stores across the country.
As per the latest quarterly update, the Bengaluru-based company has already cut its operational stores to nearly 700 across the country, following recent reductions as part of a “structural reset”.
“Q3 FY26 marks a structural reset for Ola Electric. As EV penetration growth has slowed and our service execution has required strengthening, we chose to realign our retail footprint, cost structure, and operating model to a sustainable steady state by fixing the fundamentals and not optimising for short-term volume,” the company said in its shareholders’ letter, as reported by The Economic Times.
According to the report, several stores across different regions have already been shut and employees at some locations were asked to leave.
Ola Electric Share Price
The shares of Ola Electric on Friday fell nearly 2% to trade at a 52-week low of Rs 26.83 apiece on the NSE. In the past one month, the stock has declined about 17%. It has fallen about 55% in the past one year.
Ola Electric Q3 Results
The EV maker’s latest financial performance underscores the pressure it has been grappling with. For the quarter ended December 31, 2025, it posted a net loss of Rs 487 crore, narrowing from Rs 564 crore in the corresponding period last year, while revenue from operations plunged 55 per cent year-on-year to Rs 470 crore.
Sales volumes mirrored this slowdown. Electric two-wheeler deliveries dropped sharply to 32,680 units during the quarter, marking a 61 per cent decline compared with the same period a year earlier.
Data from the Vahan portal points to a steep erosion in its market position. Its share of the electric two-wheeler segment slid to around 6.3 per cent in January from nearly 26 per cent a year earlier. The trend worsened in early February, when sales in the first 18 days totalled just 2,575 units, pushing market share down further to roughly 4.2 per cent.
After once dominating the segment, the company now lags behind established manufacturers such as TVS Motor Company, Bajaj Auto and Hero MotoCorp, along with newer competitors like Ather Energy.
It has also encountered regulatory headwinds over the past year, as authorities in certain states ordered the shutdown of some showrooms and service outlets for operating without valid trade certificates.
Ola Electric Layoffs
As part of a broader restructuring exercise announced last month, the company indicated that about 5 per cent of its workforce would be impacted. With a total employee base of nearly 3,500, this translates to roughly 175 staff members likely to be affected.
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