History of Ola Electric: from founding to today
Ola Electric launched the S1 scooter in August 2021 11. It had 35.47% of the market in 2024 but 11.7% in FY26 1321.
Beginnings
Bhavish Aggarwal set up Ola Electric in 2017 1. In May 2020 it bought Etergo, an Amsterdam company that made the AppScooter; the price was not disclosed 10.
Timeline
| Date | Event |
|---|---|
| 2017 | Founded 1 |
| May 2020 | Bought Etergo 10 |
| 15 August 2021 | S1 and S1 Pro launched from ₹99,999 11 |
| April 2022 | Recalled 1,441 S1 Pro scooters after a fire in Pune 29 |
| 2024 | 35.47% of electric two-wheeler registrations 13 |
| 9 August 2024 | Listed at ₹76 after a ₹6,145.56 crore IPO 12 |
| October 2024 | Consumer protection notice over 10,644 complaints 30 |
| November 2025 | First deliveries with its own Bharat Cell 17 |
| FY26 | Market share fell to 11.7% 21 |
| June 2026 | Raised ₹780.24 crore from institutions 24 |
| October 2026 | Rights issue of about ₹1,000 crore 8 |
Decline
Ola's share of electric two-wheeler registrations fell from 35.47% in 2024 to 5.87% in January 2026 13. The company called FY26 a reset year 19.
Frequently asked questions
In 2017, by Bhavish Aggarwal.
The S1 and S1 Pro launched on 15 August 2021.
Sources✓ Verified 4 Nov 2026
1 Wikipedia, Ola Electric, 6 Nov 2026, background
2 Choice India, Ola Electric Mobility shareholding pattern, 5 Nov 2026, shareholding
3 Upstox, Ola Electric Mobility shareholding, 16 Oct 2026, June 2026 shareholding
4 Inc42, Pledge, sell, pledge again: Bhavish Aggarwal's Ola Electric dilemma, 12 Oct 2026, Aggarwal stake, pledges
5 Business Standard, Bhavish Aggarwal monetises Ola Electric stake, releases ₹260 crore pledges, 16 Dec 2025, pledge release
6 Inc42, Ola Electric DRHP shareholding, 1 Jan 1970, pre-IPO stakes
7 Free Press Journal, SoftBank sells 2.15% stake in Ola Electric, 9 Jan 2026, SoftBank sales
8 Inc42, SoftBank sells 1.2% stake in Ola Electric, 27 Oct 2026, SoftBank, rights issue
9 Autocar Pro, Bhavish Aggarwal pledges 20 crore Ola Electric shares, 6 Oct 2026, 2026 pledge
10 Autocar Pro, Ola Electric acquires Amsterdam-based Etergo, 27 May 2020, Etergo
11 Business Today, Ola Electric S1 launched at Rs 99,999, 15 Aug 2021, S1 launch
12 Business Today, Ola Electric shares list flat at Rs 76, 9 Aug 2024, IPO listing
13 Entrackr, Ola Electric's e2W market share slumps to under 6% in January 2026, 27 Jan 2026, 2024 share, January 2026
14 Entrackr, Ola Electric CFO Harish Abichandani resigns, 19 Jan 2026, CFO change
15 Entrackr, Ola Electric cell business head Vishal Chaturvedi resigns, 31 Dec 2025, cell head exit
16 Ola Electric, Investor relations announcements, 6 Nov 2026, announcements
17 Autocar Pro, Ola Electric begins deliveries of Bharat Cell vehicles, 5 Nov 2025, Bharat Cell
18 Inc42, Ola Electric's Roadster X+ gets PLI certification, 3 Apr 2026, Roadster PLI
19 Autocar Pro, Ola Electric calls FY26 a reset year, 20 May 2026, FY26 results
20 Free Press Journal, Ola Electric's repeated strategy changes, falling sales, 1 Feb 2026, stores, strategy
21 Autocar Pro, India e2W registrations rise 22% to 1.4 million in FY26, 1 Apr 2026, FY26 registrations
22 Inc42, E2W registrations rise to 2.15 lakh in October, 31 Oct 2026, October 2026 registrations
23 Autocar Pro, Electric two-wheeler registrations cross 1 million in H1 FY27, 1 Oct 2026, H1 FY27 registrations
24 Inc42, Ola Electric closes QIP at ₹35.86 a share, 4 Jun 2026, QIP
25 Inc42, Ola Electric Q4 loss declines 43% to ₹500 crore, 20 May 2026, Q4 FY26
26 Arthneeti (BSE filing), Ola Electric allotment of rights shares, 3 Nov 2026, rights allotment
27 Ventura Securities, Ola Electric's payments to Krutrim surpass ₹100 crore, 17 Sep 2026, Krutrim payments
28 Inc42, Ola Electric Q1 FY27 results, 7 Aug 2026, Q1 FY27
29 Outlook Business, Ola Electric recalls 1,441 units after fire incidents, 1 Apr 2022, recall
30 Inc42, Ola Electric responds to CCPA show-cause notice, 22 Oct 2024, CCPA notice
31 Rushlane, Government probe on Ola Electric for registration discrepancy, 25 Mar 2025, registration probe
32 Inc42, Ola Electric and trade certificate notices, 21 Mar 2025, trade certificates
33 Entrackr, Ola Electric clarifies on FIR against CEO and officials, 21 Oct 2025, FIR and response
34 Tribune, Ola founder Bhavish Aggarwal and Kunal Kamra spar over service quality, 6 Oct 2024, Kunal Kamra
Report a correction
This page is for information only and is not investment advice.