Ola Electric Vahan Registrations to Fall Temporarily, Sales will be unafeved

Ola Electric, one of the large electric two-wheeler companies, may have a decrease in the registrations on the Vahan portal in February. The company has said that it is talking to vehicle registration agencies about its contract. Its purpose is to make the process of registration easier and reduce the cost. However, this will not affect the company’s sales.

Ola Electric has stated in a regulatory filing that she is talking with Rosmerta and Shimnit to improve the registration process to change the terms of the agreement. Due to this, there may be a temporary decrease in the number of registrations in February. However, it will not affect the sale. The company’s electric two-wheelers are sold directly to customers. Because of this, it depends on these third-party agencies to complete the process of registration of vehicles.

The company’s net loss has increased in the third quarter of the current financial year. The company’s net loss is about Rs 564 crore in the third quarter. The company’s net loss was about Rs 376 crore in the same period last year. In January this year, Ola Electric has re-secured the first place in the market of electric two-wheelers. In the second quarter of the current financial year, the company had a net loss of about Rs 495 crore. In the third quarter, the company’s revenue declined by 19.36 percent to about Rs 1,045 crore. The company’s revenue was around Rs 1,296 crore in the same quarter of the previous year.

In the December quarter, the company’s Ebitda Loss rose to about Rs 460 crore. It was about 301 crore rupees in the same quarter of the last financial year. Recently, Ola Electric entered the segment of electric motorcycle. The company launched Roadster X and Roadster X+. The initial price of this electric motorcycle is Rs 74,999 (ex-showroom). At the end of last year, Ola Electric had increased its sales and service networks about four times. Bajaj Auto and TVS Motor have increased their stake rapidly in the market of electric two-wheelers.