Just two days prior, on April 11, 2026, the company had experienced a brief rally, with its stock price rising over 6%. However, this optimism was short-lived as the reality of falling deliveries set in.

In Q3 FY26, Ola Electric reported deliveries of only 32,680 units, a stark contrast to the 84,000 units delivered in the same period the previous year. This represents a significant decline in performance, raising questions about the company’s ability to compete effectively in the electric two-wheeler market.

Revenue for the quarter also dropped sharply to ₹470 crore, nearly half of what it was a year ago. This decline is particularly concerning given that Ola had initially guided for over 3.25 lakh units in sales for FY26 but only managed about 1.5 lakh units in the first nine months.

Furthermore, Ola’s market share has fallen to under 6%, a notable decrease from the 30–35% share it held after its IPO. This decline reflects the intense competition in the electric vehicle sector, particularly from rivals such as TVS Motor, Bajaj Auto, Ather Energy, and Hero MotoCorp.

Despite the challenges, there was a silver lining as gross margins improved to 34.3% in Q3 FY26, compared to 25.8% and 30.9% in the previous two quarters. However, the company’s EBITDA margin remained concerning at -68.7%.

Industry analysts have noted that battery innovation is critical for improving EV margins, indicating a strategic intent from Ola to enhance its product offerings. A dealer at a domestic brokerage firm commented that the recent rebound in share price was not merely technical but was supported by improving fundamentals and sentiment.

As the situation stands, Ola Electric’s ability to sustain its recent rally in share price amidst ongoing profitability concerns remains uncertain. Details remain unconfirmed regarding the impact of new LFP battery technology on the company’s overall performance and market acceptance.

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The launch of the TVS Orbiter V1 electric scooter on March 12, 2026, marks a significant development in India’s electric vehicle landscape. Priced at ₹49,999 under the Battery-as-a-Service (BaaS) model, this scooter aims to make electric mobility more accessible to a broader audience.

The Orbiter V1 is equipped with a 1.8 kWh battery, providing a certified IDC range of 86 km per charge. This range is particularly appealing for urban commuters, allowing for efficient travel without frequent recharging. Charging the battery from 0 to 80% takes approximately two hours and 20 minutes, making it convenient for daily use.

In addition to its competitive pricing, the Orbiter V1 offers a 34-litre under-seat storage capacity, catering to the practical needs of riders. The scooter also features a coloured LCD instrument cluster and a companion mobile app, enhancing connectivity and user experience.

Safety is a priority for the Orbiter V1, which includes alerts for crashes, falls, theft, geo-fencing, and time-fencing, ensuring peace of mind for users. The BaaS model allows customers to subscribe to battery usage, with monthly plans starting at ₹862, providing flexibility for those hesitant to make a large upfront investment.

Gaurav Gupta, President of India 2W Business at TVS Motor Company, emphasized the importance of this launch in making electric mobility more accessible. He stated, “This is an important step in making electric mobility more accessible.” Aniruddha Haldar, Senior Vice President heading the Commuter and EV Business, noted that customer feedback on the Orbiter V2 informed the decision to introduce this more entry-level option.

The Orbiter V1 is positioned as the most affordable option in the TVS electric vehicle portfolio, reflecting the company’s commitment to expanding its offerings in the rapidly growing electric two-wheeler market in India.

As the electric vehicle sector continues to evolve, the launch of the Orbiter V1 is expected to attract a significant number of customers looking for cost-effective and efficient transportation solutions. However, details remain unconfirmed regarding the long-term impact of this model on the market and customer adoption rates.

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