Ola Electric is bracing for a make-or-break year in FY26 as it banks heavily on upcoming vehicle launches and technology upgrades to regain momentum in the electric two-wheeler market. While the Bengaluru-based EV maker recorded a consolidated net loss of Rs 428 crore in Q1 FY26, down from Rs 870 crore in Q4 FY25, the figure still reflects a widening loss compared to Rs 347 crore in Q1 FY25. More concerning, however, is the steep 49.6% year-on-year revenue decline, with Q1 FY26 revenue plunging to Rs 828 crore from Rs 1,644 crore a year earlier.
The sharp fall in revenue highlights mounting pressure on Ola’s business model, especially as competition intensifies from legacy players like TVS and Bajaj, who are gaining ground in the EV space. Even as the company celebrates a positive EBITDA in June 2025, this appears more like a temporary respite than a sign of long-term stability. The optimism expressed in its latest shareholder letter, citing new product launches and innovations, is ambitious, but Ola will need more than new models to turn around its faltering financials and shrinking market share. Without meaningful growth in volumes and a rebound in revenue, Ola’s roadmap may fall short of driving the leadership it promises.
New-generation scooter
The upcoming S1 Sports will be a high-performance model derived from the popular S1 range. Engineered for enthusiasts, this variant is expected to deliver enhanced acceleration, top speed, and dynamic handling, making it the most powerful scooter in the S1 family. Following the S1 Sports, Ola will introduce the all-new S2 platform, which is expected to feature three models — the S2 City for daily commuting, the S2 Sports for striking a balance between performance and impressive range, and the S2 Tourer for long-distance journeys and comfort.
Q1 FY26 marked the first full quarter of sales for Ola’s Gen 3 scooters, which now constitute nearly 80% of its scooter deliveries.
Ola Roadster
The Ola Roadster, the brand’s electric motorcycle, has started rolling out across the company’s retail network. Currently available in around 200 stores, Ola plans to scale up availability to the majority of its outlets in time for the Navratri festival. The Roadster is expected to appeal to urban commuters and enthusiasts alike, with its combination of style, performance, and advanced features.
4680 in-house battery cell vehicles
Ola Electric’s upcoming new vehicles will be equipped with its 4680 in-house battery cells. These advanced cells are set to debut in Q2 FY26, with deliveries beginning by Navratri. The move to in-house cell manufacturing is aimed at ensuring supply chain security, reducing costs, and enhancing vehicle range and performance. More details about these vehicles and the battery technology will be revealed on August 15.
New software: MoveOS+
Ola Electric’s MoveOS+, a software package, brings advanced features and connectivity to its vehicles. In Q1 FY26, nearly 50% of new buyers opted for MoveOS+, up from just 2% in the previous quarter. The company plans to further ramp up software-driven revenue streams with the rollout of MoveOS 5 this year and MoveOS 6 in 2026, positioning its vehicles as smart, connected mobility solutions.
Ola Electric: ABS tech
Ola Electric is the only major EV two-wheeler manufacturer to implement ABS (Anti-lock Braking System) in its electric two-wheelers. Ola, currently, offers ABS tech on the S1 Pro+. The company is also developing its own in-house ABS technology, which is expected to be ready well before the mandatory transition deadline in January 2026.
