Ola Electric shares tumble 8 percent on latest registration data after a 30 percent rise in two days

Shares of Ola Electric Mobility tumbled more than 8 percent on August 21 following a massive 30 percent rise over two sessions, after latest data from VAHAN portal showed rival electric two-wheeler maker Ather Energy nudging ahead on total monthly registrations so far in August, likely prompting some investors to book profits.

According to the VAHAN portal, Ola Electric recorded 9,681 registrations in August so far, lower than the 10,283 registrations recorded by rival EV player Ather Energy. Ola Electric’s total registrations in 2025 so far stands at 1,42,858, while that of Ather Energy stands at 1,08,424.

The registration data for the two EV-makers as per VAHAN is as follows:

The stock of Ola Electric has gained more than 23 percent in the past one week. Earlier this week, founder and chairman Bhavish Aggarwal laid out an ambitious growth strategy at the company’s annual Sankalp event.

Ola is aiming for a 25-30 percent share in India's two-wheeler electric vehicle market, backed by vertical integration and new product launches. "Our target market share for two-wheeler EVs is about 25 to 30 percent with very high margins, so we believe we are on the trajectory again," Aggarwal said. He added that Ola's 'mojo is still there' despite the challenges faced during its transition phase.

Aggarwal also stressed that profitability in electric vehicles requires more than just scale. “No one is making money. To make money with EVs, you need vertical integration, you need the technology development, you need the DNA of technology,” Aggarwal said.