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Ola Electric misses FY26 guidance as Ather seizes revenue crown
Our read
Ola's 44% volume collapse and missed guidance signal that aggressive pricing without service infrastructure cedes share to operationally disciplined rivals like Ather.
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The report,
Ola Electric missed FY26 revenue guidance with sales halving to ₹2,253 crore, ceding the EV two-wheeler revenue lead to Ather (₹3,671 crore). Losses narrowed to ₹1,833 crore. Company plans capital raise to scale in-house cell manufacturing to 20 GWh.
Reported figures
From the report. Source details below
| loss ₹1,833 crore vs | ₹2,276 crore |
|---|---|
| cell capacity expansion 6 GWh to | 20 GWh |
| Q1FY27 orders guidance | 40,000-45,000 |
Also in the report
- guidance ₹3,000-3,200 crore missed
- scooter sales 173,794 (-44%)
- Ather revenue ₹3,671 crore (+63%)
- Ather volumes 263,000 (+69%)
- Q4 revenue ₹265 crore (-57%)
Other figures
- -50% YoY
Why it matters to operators
Ather's revenue leadership and Ola's weakened position reshape the EV two-wheeler M&A landscape, opening doors for component supplier consolidation and potential strategic partnerships around battery cell manufacturing.
The source
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