Ola Electric Shares Crashes 3.5%, Hitting a Fresh 52-Wk Low; Company to Cut 1,000 Jobs

Ola Electric shares dropped as much as 3.59% this morning after reports emerged that the EV maker plans to lay off over 1,000 employees as part of a cost-cutting strategy, Bloomberg reported.

Ola electric shares today

Ola Electric shares have hit a new 52-week low, trading at Rs. 53.76 today after a sharp decline in the EV scooter market stocks. Over the last five sessions, Ola Electric stock has plunged more than 9%, continuing its bearish trend.

Since its IPO debut on August 9, 2024, Ola Electric shares initially surged past Rs. 156 per share but have struggled in recent months. Weak quarterly financial results and mounting losses have dampened investor sentiment, pushing the stock into a downward spiral.

Over the past 30 days, Ola Electric shares have tanked more than 25%, while the six-month loss now stands at 52%. The stock has also declined by 35% year-to-date, making it one of the worst-performing EV stocks in India.

Ola Electric Layoffs: Over a Thousand Employees to Be Laid Off in 2025

One of India's leading electric two-wheeler manufacturers, Ola Electric, is reportedly laying off more than 1,000 employees and contract workers as part of its strategy to focus on profitability, according to a Bloomberg report. This is the second round of layoffs in the company. Previously, Ola had laid off around 500 employees in November 2024, as per the report.

Bloomberg, in its report, said that "data from market intelligence platform Tracxn indicated that Ola Electric had 3,824 employees as of December 31, which showed a 1.8% decline from the previous year. The latest layoffs are expected to impact front-end sales, service, and warehouse staff at Ola's showrooms and service centers. The company is also revamping its logistics and delivery strategy to cut operational costs."

Ola Electric's February 2025 Sales

Ola Electric has announced that it sold over 25,000 electric two-wheelers in February 2025, claiming a 28% market share in the segment. However, data from the Vahan portal tells a different story, showing only 8,647 registered units for the month. According to a report by Mint, Ola Electric's registrations stood at just 8,390 in February, a significant drop from 24,376 units recorded in January. This marks the company's lowest monthly sales figure since August 2022, when it registered 3,476 units. The sharp decline in registrations raises concerns about the discrepancy between reported sales and actual vehicle registrations, highlighting potential challenges for Ola Electric in maintaining its market dominance.

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.