Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Bhavish Aggarwal-led Ola Electric’s electric two-wheeler sales halved in calendar year 2025 compared to 2024, according to VAHAN registration data.
Ola Electric, which sold 4,07,701 electric vehicles in calendar year 2024, recorded registrations of 1,96,767 units as on December 26, 2025, according to VAHAN data.
TVS Motor Company has dethroned Ola Electric as the largest electric two-wheeler manufacturer in 2025 by selling 2,95,315 units. Bajaj Auto ranked second with sales of 2,66,919 units.
Tarun Mehta-led Ather Energy also edged out Ola Electric for the first time. During the calendar year 2025, Ather Energy recorded registrations of 1,97,596 units. Ola Electric saw a sharp decline in sales in November and December as sales fell below the 10,000 unit mark to 8,430 units and 6,479 units, respectively. In comparison, Ather Energy sold 20,468 units in November and 13,898 units in December.
On December 25, Ola Electric announced that it has received a sanction order from the Ministry of Heavy Industries for release of incentives amounting to ₹366.78 crore under the Production Linked Incentive Scheme for Automobile and Auto Components (PLI-Auto Scheme) for claims relating to 2024-25.
The sanction relates to demand incentive for the sale value determined for 2024-25 and authorizes a payment of ₹366.78 crore to be released through IFCI Ltd, the designated financial institution for disbursements under the scheme.
Commenting on the development, an Ola Electric spokesperson said, “The sanction of ₹366.78 crore under the PLI-Auto scheme is a strong endorsement of Ola Electric’s manufacturing capabilities and our commitment to building world-class EV technology in India. This incentive recognizes our sustained efforts to increase domestic production, deepen localization and drive innovation across the electric mobility value chain.”
To be clear, Ather Energy does not benefit from incentives under the Production Linked Incentive Program. The ₹25,938-crore PLI scheme for the automobile and auto components sector set a revenue threshold, allowing eligibility only to automakers whose global group revenues exceeded ₹10,000 crore. Aggarwal’s Ola already owned a fledgling ride-sharing business, which helped her become eligible for the program.
