@randomquarks I have a question. Since you follow this space closely and have a more balanced view, I value your thoughts.
Say I’m an average customer looking for an e-scooter. My primary motivation would most likely be fuel savings.
Now, among the choices available in the market, what would make a customer choose an Ola scooter over the offerings from TVS, Bajaj, or even Ather to some extent?
The point is: would an average scooter rider really be excited about things like a non-lithium battery, MoveOS 6, or the GigaFactory?
Most customers would first and foremost look for reliability, durability, and serviceability — with brand reputation and reviews being key drivers of trust and confidence.
So while I understand the competitive advantages Ola might have, at the end of the day it’s a consumer company, and the product itself has to fit the customer’s need.
Fair question and let me answer. Just one correction - there is no non-Lithium battery.
The short answer is that Ola is actually selling vehicles so the proof of the pudding is in the eating.
Having said that, the negativity on Ola is mostly a social media phenomenon. On the ground, I have found customers to be satisfied and they do recommend taking Ola. Even the older models are performing decent. Of course, there are service issues. But same issues are with Ather, TVS and Bajaj too. Just search with any of these terms with service on X. Not a single positive comment. Nobody actually takes to SM to give an excellent review. People go on SM to seek resolution. That is nature of the beast. Even ICE service has issues and you can experience that frequently on SM.
Ola was the victim of its own success. They have about a million vehicles on road. A few thousand service issues are expected. With time third party service stations and parts providers will solve this.
As you noted,
“Most customers would first and foremost look for reliability, durability, and serviceability.”
This is central to Ola’s trajectory. The company is currently in an exponential improvement loop. Each successive product generation addresses the shortcomings of the prior one, resulting in vehicles that are more reliable, more durable, and more cost-efficient.
Importantly, every generation generates a vast data pool that feeds back into design and engineering, compounding improvements. In just five years, Ola has already reached its fourth product generation. If this pace continues, the company is positioned to outpace incumbents across all key metrics.
Until now, Ola was seen simply as a scooter company. But with Gen 3 and Gen 4, its generational mindset and vertical integration have turned it into a true platform play. Every new data point strengthens the platform, and that continuous feedback loop improves not just one product, but the entire product ecosystem.
Looking ahead, with this depth of data and integration, I wouldn’t be surprised if, in a few years, you could get your scooter/bike/LCV/ serviced seamlessly through a quick-commerce platform.
It won’t happen overnight, it will take time, one year at a time. But the trajectory is clear.
These are hitjobs from rivals. On the other hand, the promotor trusts others to run things for him and company does not require his micromanagement for functioning. This is a positive in my book.
Absolutely. Moreover, they had 17 Board Meetings! That itself is a very high number. Most Annual Reports I read have between 4 to 8 Board meetings, I have never seen 17. Quite likely that some of the Board Meetings had a specific agenda for which Bhavish was not required. This is not an issue at all.
Attending Board meetings is not micromanagement especially when you’re Chairman of the Board. It’s a fiduciary duty towards shareholders for which Board members get paid too. Disregard for Board meetings can also imply poor attitude towards minority investors, other shareholders (I’m not saying it is the case here, but it reflects poorly on the promoter).
How is this a hit job? This is publicly available information which media has leapt on. Ultimately institutional advisory services would have picked up on this if not the media. It’d be a hit job if Ola was winning in the market and incumbents would be worried. It’s not the case till now.
Since Ola Electric went public, Aggarwal attended one of the five board meetings, a 20% attendance rate.
To make it worse, Aggarwal skipped two of Ola’s three board meetings to approve the company earnings. While he missed the meetings for the first and the third quarters, held on 14 August 2024 and 7 February 2025, he joined on 8 November 2024 when the Q2 earnings were announce
This is more crucial. Promoter / chairman has not attended Earnings board meets after listing. Where is the corporate governance.
Ola’s Roadster is a breakthrough product. Being a first-gen rollout, it naturally has a few minor teething issues, but overall it delivers exceptional value for money with relentless performance. The only real drag is Ola’s brand perception, still dented by its service track record.
If I were running a legacy motorcycle company and saw what the Roadster is capable of, I’d be seriously worried.
Also, NITI Ayog recently met all the major EV 2W manufacturers to discuss increasing EV motorcycle penetration. Currently, Ola is the only one building this at scale.
So whatever incentives govt starts would benefit it the most. Seems the govt is serious about 80% penetration target till 2030. Even 40% will create huge value for both Ola and Ather. 80% even till 2032-33 would mean breakneck growth.
Service related issues exist for other major EV players too.
I own an Ather (And Ola shares, not Ather!?), I’m a part of ather community group. Most of the complains and queries are related to service. My servicing is due, however the closest SC (Service Centre) is 35km away - I live in Mumbai, only 2 SCs, Andheri and Vashi??
They are charging absurd for pick up & drop.
I guess as a first mover, Ola faced the initial wrath, but now the issue is common to all. I don’t think this is holding the stock back.
Bhavish’s image is a hot topic among stock market folks, but the average customer neither cares nor even knows who he is. Many customers I know chose other brands’ scooters, not because they preferred them, but simply because they didn’t want to buy Ola due to all the negativity on social media.
That’s what i said “perception” , all Ev’s will have some issues, but that trial an error done on small scale is good strategy . Launching product in a large scale with no after sale service ecosystem has cost alot already to OLA
Lot of funds bought - lot of issues previously - Gen1 bikes were sad to say the least - lot of expenses were going towards bike guarantees too. Gen3 bikes are going to be better and losses will get capped. Tech savy management as per some investors. (take all this and below with pinch of salt)
Cell cost benefits commentary was good. one investor/analyst asked 1/2 good questions and probed them around BOM, motor, wiring, elctronics - basically 10k reduction in COGS per vehicle is a key milestone as per one investor in friend circle. Discussions went to the extent of Chinese/korean peers
pat +ve 2nd qtr in a row (adj mgmt definition)- small things but nice to see in a bombed out stock/ipo
GM + Mkt Share good signs
Nepal export is an optionality which they started - playbook which has been followed by incumbents too
Ola is developing indigenous motors free of rare earth magnets. (if successful then bajaj work is cut out to some extent) - again lot of moving parts but still small things in a bombed out stock.
