Ola Electric Crosses 10 Lakh Sales Mark: Growth Journey & Market Share

Ola Electric has reached a major milestone in India’s EV market. The company has crossed 10 lakh total deliveries. As per Vahan data, it sold 10,00,846 electric two-wheelers by March 23, 2026. This makes it the first EV maker in India to achieve this number.

In addition, Ola achieved this milestone in just around four and a half years. The company entered the market in mid-2021. Since then, it has shown fast growth and strong demand in the early years.

Fast Growth Phase Helped Ola Lead the EV Race

Ola Electric quickly became a top player in India’s electric two-wheeler segment. In 2022, it sold over 1 lakh units. This number was higher than combined sales of Ather Energy and TVS Motor Company at that time.

In 2023, the company saw strong growth again. It sold over 2.67 lakh units with a big jump in market share. Therefore, Ola continued to lead the segment with confidence.

However, 2024 became its strongest year. Ola sold more than 4 lakh units in one year. It also achieved a record monthly sale of over 53,000 units. This performance helped the entire EV market cross 1 million annual sales.

Meanwhile, rivals also grew during this period. Bajaj Auto and Ather improved their sales numbers. TVS also crossed 2 lakh yearly sales, showing strong competition in the segment.

Recent Slowdown Raises Concerns For Brand

Nevertheless, the growth of Ola fell drastically in 2025. In the same year, the company bought approximately 1.99 lakh units. This was a huge decline relative to 2024 sales. There was new competition and product developments that influenced its performance. It was also at this time that Ola ventured into the electric motorcycle industry.

This caused Ola to lose the lead in the market. TVS Motor led in robust and consistent growth. The market share of Ola also declined greatly. Moreover, the slowdown is also present in 2026. Between January and March 23, Ola sold a little more than 16,000 units. This is a severe reduction from last year.

Ola is currently ranked second to TVS, Bajaj Auto, Ather Energy and Hero MotoCorp in monthly sales. It now has a market share of less than 5%. But Ola remains way in the lead in overall sales. It is still top in cumulative numbers over TVS and Bajaj. Maybe some new policies and superior products can bring Ola back to its place.

Before you go, don’t forget to check out the two-wheeler sales in Feb 2026 in India.