Ola Electric loss widens to ₹564 crore in Q3FY25

Ola Electric Mobility reported consolidated loss of ₹564 crore for the quarter ended December 31, 2024, as compared to ₹376 crore posted in the year-ago period.

The company’s revenue from operations stood at ₹1,045 crore, down from ₹1,296 crore reported in the corresponding quarter of the last financial year.

Ola Electric’s Q3FY25 delivery stood at 84,029 units, down from 86,775 units in the year-ago period and also lower on a sequential basis from 98,619 units. Out of 84,029 units that it sold in the quarter gone by, 29,283 units were from the premium segment while 54,746 were from the mass segment.

Automotive, cell segment

The company’s Automotive gross margin remained strong, improving by 20 bps quarter-on-quarter to 20.8 per cent in Q3 FY25, despite a 14 per cent decline in revenue to ₹1,075 crore due to intensified competition and festive discounts.

The company’s in-house 4680 Bharat Cell is on track for commercialisation, and module level testing for integration of these cells in its vehicles have commenced in Q3 FY25 with vehicle deliveries expected in Q1 FY26. The company will continue to invest in Cell R&D and has commenced work on the Gen 2 NMC Cell, which will have higher energy density and LFP Cells for Automotive and BESS applications.

The company entered the motorcycle market in February 2025 with the launch of its mass market EV motorcycle portfolio including Roadster X and Roadster X+. The company launched these motorcycles in five battery pack configurations with deliveries starting mid-March 2025.

Ola Electric launched the S1 Gen 3 products in January 2025 and the company will begin deliveries of the same during February 2025. Over the Gen 2, Gen 3 offers 20 per cent increase in peak power, 11% reduction in cost, and 20 per cent increase in range. During November 2024, the company also announced its entry level scooter portfolio including Ola Gig, Gig+ and S1 Z.

The company’s share closed at ₹ 70.02 down by 2.56 per cent at BSE.