Ola Electric fell to fifth in India’s e-two-wheeler market in November 2025 as Ather surged ahead, driven by better performance and investor confidence.

Ola Electric fell to fifth in India’s electric two-wheeler market in November 2025, with its share dropping to 7.4% from over 25% a year earlier, selling 8,254 units. TVS Motor led with 26.8%, followed by Bajaj Auto at 22.6%, Ather Energy in third with 18.7%, and Hero MotoCorp’s Vida brand in fourth with 10.6%. Ather’s growth stems from strong product quality, service, and its expanding charging network, while Ola faces declining revenue, higher costs from its large company-owned store network, and operational challenges. Ather reported a 54% revenue rise and reduced losses, outpacing Ola’s 43% revenue drop. Ather’s market valuation now exceeds Ola’s, reflecting investor confidence in its asset-light model.