OLAELEC

** Shares of Ola Electric OLAE.NS drop nearly 4% to 35.52 rupees

** HSBC ("reduce", cuts PT to 33 rupees from 45 rupees) analysts say OLAE has lost its "first-mover advantage" due to delays and faces margin pressure

** Emkay Global ("sell", PT 25 rupees) says while Q4 margins improved, they are not sustainable as co faces pricing pressure, rising competition and execution challenges

** Avg rating of eight analysts on OLAE at "sell"; median PT is 28 rupees - LSEG-compiled data

** Electric scooter maker reports lower Q4 revenue; profit rises on sharp cost control

** YTD, stock down 2%

(Reporting by Kashish Tandon in Bengaluru)

((Kashish.tandon@thomsonreuters.com))

May 20 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC MOBILITY Q4 CONSOL NET LOSS 5 BILLION RUPEES

• OLA ELECTRIC MOBILITY Q4 CONSOL REVENUE FROM OPERATIONS 2.65 BILLION RUPEES

Further company coverage: OLAE.NS

((reuters.briefs@thomsonreuters.com;))

Adds details and background throughout

May 15 (Reuters) - India's Ola Electric OLAE.NS will invest $208.5 million in its core vehicle and cell units as the EV bike and scooter maker aims to step up cost cuts and localize manufacturing to achieve profitability amid rising competition.

The SoftBank-backed firm has been grappling with higher operating costs and is seeking to bring them down through automation, job cuts and increasing in-house production of EV cells. The firm also plans to launch a new cost-efficient line of EV two-wheeler models.

The investment is expected to be completed by May 14, 2027, Ola Electric said in a statement.

Last year, the company started manufacturing its own battery cells instead of importing them, a move that it previously said is key to achieving profitability.

In February, it projected lower operating costs by as much as 50% in the coming quarters, after posting a narrower third-quarter loss as it sets its sights on turning profitable. Ola is yet to report its March-quarter results.

Its EV unit posted a revenue of 47.17 billion rupees for the year ended March 31, 2026, while its cell unit posted a revenue of 730 million rupees.

The company, which once commanded half of India's e-scooter market, has lost ground to legacy players such as Bajaj Auto BAJA.NS and TVS Motor TVSM.NS, which widened distribution and rolled out competing models, as well as to rival Ather Energy ATHR.NS.

($1 = 95.9387 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru; Editing by Sonia Cheema)

((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))

May 1 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• REPORTS 20% MONTH-ON-MONTH SALES GROWTH IN APRIL

Source text: ID:nNSE9xP1gb

Further company coverage: OLAE.NS

((Reuters.Briefs@thomsonreuters.com;))

** Shares of Ola Electric OLAE.NS rise as much as 8.5% to 42 rupees

** Chinese internet conglomerate Tencent 0700.HK has invested $400 million in OLAE, Economic Times reported, citing filings

** Singapore-based Copper Technology Pte Ltd will take a 9.57% stake in the EV maker, the report added, with sources confirming to ET that it is Tencent-owned

** Tencent, Ola did not immediately respond to Reuters requests for comment

** More than 240 million shares traded so far, almost 1.4x 30-day avg

** Average rating of 8 analysts on OLAE is "sell"; median PT 26 rupees - data compiled by LSEG

** YTD, OLAE up about 11%

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))

** Shares of India's Ola Electric Mobility OLAE.NS on track for 28.16% weekly gain, eyes best week since August 2024

** Stock up 5.12% at 38.18 rupees on the day

** Electric vehicle maker said on April 7 it has completed its in-house developed lithium iron phosphate (LFP) battery, which could help lower costs and support wider adoption

** Trading vols at 467.2 million shares vs 30 day avg of 124 million shares

** OLAE on avg rated "sell" by 8 analysts; median PT is 24.50 rupees- LSEG data

** YTD stock up 0.22%

(Reporting by Devika Nair in Bengaluru)

((Devika.MadhusudhananNair@thomsonreuters.com;))

April 2 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• SIGNIFICANT PRICE REDUCTION FOR FLAGSHIP ELECTRIC MOTORCYCLE

• CUTS ROADSTER 9.1 PRICE BY 60,000 RUPEES

Source text: ID:nBSEc23Dkw

Further company coverage: OLAE.NS

((Reuters.Briefs@thomsonreuters.com;;))

April 1 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• MARCH REGISTRATIONS JUMP OVER 150%

Source text: ID:nBSEbkCqCG

Further company coverage: OLAE.NS

((Reuters.Briefs@thomsonreuters.com;))

March 18 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - APPROVES PROPOSED VARIATION IN IPO PROCEEDS UTILIZATION

• OLA ELECTRIC - APPROVED MODIFICATION OF TIME LIMIT FOR UTILISATION OF IPO PROCEEDS

Source text: ID:nBSE6SsbKC

Further company coverage: OLAE.NS

((Reuters.Briefs@thomsonreuters.com;))

By Manoj Kumar

NEW DELHI, March 17 (Reuters) - An Indian parliamentary panel has recommended mandatory registration of gig workers on a national labour database, while calling for clearer legal obligations for digital platforms to contribute to their social security.

The Standing Committee on Labour said in a report on Tuesday that gig workers on digital platforms had become an "integral part of the modern supply chain," particularly in cities delivering food, transport and other on-demand services, but many remained outside formal labour registration and social security systems.

To bridge the gap, the committee has recommended that all platform aggregators, such as Swiggy SWIG.NS, Ola OLAE.NS and Zomato, must register gig workers on the government's e-Shram portal, a national database for unorganised workers.

Engagement of such workers should be linked to this registration, the panel said.

The recommendations come as India's gig economy expands rapidly, with millions working on app-based platforms in sectors such as ride-hailing, logistics and food delivery.

The Indian government announced in November last year the implementation of four labour codes, overhauling decades-old rules governing factories and workers while promising social security benefits for gig and platform workers.

These benefits have not been implemented so far.

There are no official estimates for the size of India's gig economy, although government think tank NITI Aayog expects the sector to employ 23.5 million people, or about 7% of the non-farm workforce, by 2030.

The committee also proposed that registration remain valid for at least one year, with gig workers continuing to receive basic social security benefits, including insurance and accident cover, even if they stop working with a particular aggregator.

It also urged the government to include clearer provisions for gig and platform workers in labour codes, defining aggregator responsibilities and ensuring contributions to social security schemes.

The report further called for stronger social security coverage for workers in non-traditional employment arrangements as India's digital economy evolves.

(Reporting by Manoj Kumar; Editing by Anil D'Silva)

((manoj.kumar@thomsonreuters.com; +919810286200; Twitter:@manojgulnar;))

March 3 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - ROADSTER RANGE NOW STARTS AT 79,999 RUPEES

Source text: ID:nBSE6HHgHw

Further company coverage: OLAE.NS

((reuters.briefs@thomsonreuters.com;))

** Goldman Sachs downgrades India's Electric two-wheeler manufacturer Ola Electric OLAE.NS to "neutral" rating

** Brokerage cuts PT for OLAE to 26 rupees from 52 rupees earlier

** Shares of OLAE drop nearly 1% to 25 rupees

** Brokerage says insufficient vehicle servicing capacity, high turnover in senior management, volatile sales network strategy, and muted reception for its roadstar motorcycle have led to a loss in 2W market share

** Expects co's 2W market share to remain range bound in the mid-single digit run rates over FY25-FY27

** OLAE rated "Sell" on avg by 8 analysts covering it; median PT at 26.50 rupees - data compiled by LSEG

** YTD, OLAE lost ~30%

(Reporting by Komal Salecha in Bengaluru)

((Komal@thomsonreuters.com))

** Ola Electric OLAE.NS falls as much as 2.5% to record low of 26.83 rupees; stock down 12.5% so far this week

** Electric two-wheeler manufacturer plans to reduce physical store count further to about 550 by March-end, as per media report

** Earlier this week, Citi downgraded stock to "sell" from "buy"; cuts PT to 27 rupees from 55 rupees, citing persistent headwinds to volume growth

** Stock rated "hold" on average vs "strong buy" for larger rival Ather Energy ATHR.NS, per data compiled by LSEG

** Stock down 25% YTD

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))

** Ola Electric OLAE.NS falls as much as 5.1% to record low of 27.36 rupees

** Electric two-wheeler manufacturer extends fall after brokerages flag weak Q3 operating profit, question growth prospects

** OLAE currently down 2.2%; sheds 8.7% since Monday

** Citi downgrades to "sell" from "buy"; cuts PT to 27 rupees from 55 rupees, citing persistent headwinds to volume growth

** Says co's prospects of posting positive EBITDA hampered by poor perception of its scooters, service quality, which could take time to improve

** Adds key headwinds include improved affordability of combustion engine scooters, increased competition among EV players

** Notes negative free cash flow key area of concern

** Stock rated "hold" on average vs "strong buy" for larger rival Ather Energy ATHR.NS, per data compiled by LSEG

** Stock down 22% YTD

(Reporting by Nandan Mandayam in Bengaluru)

((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))

** Shares of Ola Electric Mobility OLAE.NS drop as much as 6.7% to their lifetime low of 28.81 rupees, last down 5.5%

** Electric two-wheeler maker posted consol net loss of 4.87 billion rupees ($53.7 million) in Q3 from a loss of 5.64 billion rupees year ago; revenue plummets 55% Y/Y to 4.7 billion rupees

** Brokerage Ambit says EBITDA losses expanded with margin dropping 14% Y/Y in Q3 due to higher employee exit costs

** Ambit cuts PT to 25 rupees from 30 rupees, maintains 'sell' rating

** Emkay downgrades OLAE to "Sell" from "Buy", cuts PT by 60% to 20 rupees from 50 rupees

** Kotak cuts PT to 20 rupees from 25 rupees, maintains "Sell"

** Adds, OLAE continuously fails to acknowledge major concerns related to products, which are contributing to sustained below-expectation volume offtake and a rapidly declining market share

** OLAE fell 58% in 2025

($1 = 90.6540 Indian rupees)

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))

Feb 13 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - SEE CONSOLIDATED QUARTERLY OPEX TO REACH 2.5–3 BILLION RUPEES OVER NEXT COUPLE OF QUARTERS.

Source text: ID:nBSE6KqpXF

Further company coverage: OLAE.NS

((Reuters.Briefs@thomsonreuters.com;;))

Jan 30 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• COMPANY IS DOUBLING DOWN ON SPEED AND DISCIPLINE THROUGH INCREASED AUTOMATION ACROSS ITS FRONTEND OPERATIONS

Further company coverage: OLAE.NS

((Reuters.Briefs@thomsonreuters.com;))

** Shares of Ola Electric Mobility OLAE.NS fall 3.7% to 34.7 rupees, lowest in nearly a month

** Electric vehicle maker's CFO Harish Abichandani resigns due to personal reasons

** Co names Deepak Rastogi as new CFO

** Stock down for the 10th consecutive session; it fell 57.7% in 2025

** Stock rated "hold" on avg; median PT 46 rupees - data compiled by LSEG

(Reporting by Aleef Jahan in Bengaluru)

((aleefjahan.cs@thomsonreuters.com))

Jan 19 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - NAMES DEEPAK RASTOGI AS CHIEF FINANCIAL OFFICER

• OLA ELECTRIC - HARISH ABICHANDANI RESIGNS AS CFO EFFECTIVE JAN 19

Source text: [ID:]

Further company coverage: OLAE.NS

((Reuters.Briefs@thomsonreuters.com;;))

Jan 1 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• LAUNCHES ROADSTER X EV MOTORCYCLE IN INDIA

Source text: ID:nBSEbHG42S

Further company coverage: OLAE.NS

((Reuters.Briefs@thomsonreuters.com;))

Dec 30 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• GETS GOVERNMENT CERTIFICATION FOR 4680 BHARAT CELL POWERED ROADSTER X+ MOTORCYCLE

Source text: ID:nBSE4H760S

Further company coverage: OLAE.NS

((Reuters.Briefs@thomsonreuters.com;;))

Nov 6 (Reuters) - India's Ola Electric OLAE.NS reported a narrower second-quarter loss on Thursday, helped by a sharp drop in its expenses.

The electric two-wheeler maker's consolidated net loss stood at 4.18 billion rupees ($47.56 million), compared to 4.95 billion rupees a year earlier.

($1 = 87.8950 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)

((Kashish.Tandon@thomsonreuters.com; 8800437922;))

Adds Ola's response on non-payment of salary in paragraph 9

By Chandini Monnappa and Kashish Tandon

BENGALURU, Oct 20 (Reuters) - Ola Electric OLAE.NS founder Bhavish Aggarwal and a senior executive have been named in a police complaint after an employee accused them of harassment in a 28-page note before dying by suicide, according to a copy of the police report seen by Reuters.

The complaint, filed by the employee's brother in Bengaluru, names Aggarwal and the company's head of homologation, Subrath Kumar Das, alleging the employee was under intense pressure.

The deceased K. Aravind's brother, Ashwin Kannan, told Reuters that a day after his brother's cremation on September 29, the company deposited about 1.7 million rupees ($19,341) to Aravind's account.

On enquiring about the payment, three people from Ola Electric's human resources team visited him and said the deposit related to Aravind's pending salary for the financial year 2024-25, he said.

"When they had not paid for months, how did they suddenly send the amount the very next day of hearing about my brother's death and cremation?" Kannan asked.

Ola Electric, which has challenged the First Information Report (FIR) in the state's top court, said the employee never raised any complaint or grievance regarding his employment or any harassment during his tenure.

However, Kannan told Reuters his brother had been employed with Ola Electric since 2022 and had recently complained that the company had not cleared his dues.

He said Aravind feared seeking payment after hearing that employees who raised similar concerns were losing their jobs.

On non-payment of salary, the company said all salary dues to Aravind "were cleared in the normal course of payroll processing". "There were no pending or outstanding salary payments at the time of the incident," it said.

"In order to provide immediate support to the family, the company promptly facilitated the full and final settlement to his bank account," Ola Electric's spokesperson said.

Ola Electric, backed by SoftBank Group 9984.T, Temasek Holdings, Tiger Global Management and India’s State Bank of India has been grappling with slowing sales, regulatory scrutiny and intensifying competition from established two-wheeler makers.

The stock has fallen about 30% since listing in August 2024.

($1 = 87.8950 Indian rupees)

(Reporting by Kashish Tandon, Chandini Monnappa and Haripriya Suresh in Bengaluru; Editing by Eileen Soreng)

((Kashish.Tandon@thomsonreuters.com; 8800437922;))

Oct 16 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• LAUNCHES FIRST RESIDENTIAL BATTERY ENERGY STORAGE SYSTEM (BESS) SOLUTION

• EXPECTS BESS MARKET CONSUMPTION TO SCALE UP TO 5 GWH

Source text: ID:nBSEqq4hp

Further company coverage: OLAE.NS

((Reuters.Briefs@thomsonreuters.com;))

Oct 6 (Reuters) - Ola Electric Mobility OLAE.NS:

• GETS GOVERNMENT CERTIFICATION FOR IN-HOUSE FERRITE MOTOR

• WITH THIS CERTIFICATION, TO INTEGRATE FERRITE MOTOR ACROSS LINEUP

Source text: ID:nNSE6b2g4N

Further company coverage: OLAE.NS

((Reuters.Briefs@thomsonreuters.com;))

Corrects market share to about 0.5% from about 5% in paragraph 4 after company clarification

By Meenakshi Maidas and Yagnoseni Das

Sept 30 (Reuters) - Simple Energy, an Indian electric two-wheeler manufacturer that plans to go public next year, is aiming for a 19-fold jump in retail presence by 2029 as it accelerates expansion in northern India to compete with industry giants, a top executive said.

Bengaluru-headquartered Simple Energy, founded in 2019, opened its first showroom last year and now operates 53 outlets across the country.

In the next three to four years, Simple will be in a hyper-growth phase, essentially to break into the top three, Founder and CEO Suhas Rajkumar told Reuters.

The company currently holds about a 0.5% share of India's EV two-wheeler market, competing with established players such as TVS Motor TVSM.NS, Bajaj Auto BAJA.NS, Ola Electric OLAE.NS, and Ather Energy ATHR.NS.

Scooters make up roughly one-third of India's two-wheeler market and dominate the EV segment, accounting for the majority of the sales.

Simple Energy said in mid-September that it has developed an in-house motor free of heavy rare-earth elements, a move aimed at insulating itself from supply chain disruptions following China's export curbs, which rattled the global auto industry and left manufacturers scrambling for alternative technologies.

Local peer Ola also ramped up its programme to make their own rare-earths-free motors in April in response to global supply constraints, and plans to roll them out in the December quarter.

Simple Energy will keep the motor tech exclusive for now, but may open it to other players within a year if supply chain pressures persist, Rajkumar said.

The company plans to launch an IPO in the second or third quarter of fiscal 2027, aiming to raise $350 million, largely through a fresh issue. The proceeds will be earmarked for retail expansion, research and development, and marketing.

A small portion of the IPO will be an offer for sale, although specific details remain undisclosed. So far, the company has raised $51 million from marquee investors to fuel its growth.

Simple, which sells the 'Simple One' and 'Simple OneS', has sold 5,027 vehicles, as of September 29, according to government data, after facing early delivery hiccups.

(Reporting by Meenakshi Maidas and Yagnoseni Das in Bengaluru; Editing by Sherry Jacob-Phillips)

((Meenakshi.Maidas@thomsonreuters.com; +91 8921483410;))

By Akash Sriram

BENGALURU, Sept 23 (Reuters) - Electric two-wheeler startup Ultraviolette Automotive said on Tuesday it is open to licensing its battery technology, as the Qualcomm QCOM.O and TVS Motor‑backed TVSM.NS company seeks to build a new, higher‑margin revenue stream.

EV startups face heavy cash burn from factory build-outs and the high cost of batteries and components.

Licensing could provide capital to expand manufacturing and the product portfolio, giving companies more financial flexibility, industry experts say.

"A little down the line, we should probably look at other revenue streams from offshoots from the technology side," CEO Narayan Subramaniam told Reuters.

"We have gotten interest from EV manufacturers, companies that make space tech equipment to even performance hydroplanes. But for us currently, with the bandwidth that we have, our laser-sharp focus is on building our presence and product portfolio."

Pursuing new business lines can divert focus and resources from scaling core EV sales and manufacturing, a critical phase for startups still establishing market share, industry experts say.

In the United States, Rivian RIVN.O and Lucid LCID.O have also sought to boost revenue by licensing or supplying their EV technology, underscoring how capital‑intensive startups are looking beyond vehicle sales for profitability.

The Bengaluru, India‑based company on Tuesday launched the X47 electric motorcycle, aiming to attract a broader swath of consumers and expand in India and Europe.

Ultraviolette positions its bikes at the premium end against domestic rivals such as Ather Energy ATHR.NS and Ola Electric OLAE.NS , targeting buyers willing to pay more for performance-oriented models and advanced features.

By contrast, Ather CEO Tarun Mehta told Reuters last month the company is not looking to license its technology.

Ultraviolette raised $21 million last month in a round led by Japan’s TDK Ventures, with participation from Zoho Corporation and Lingotto.

(Reporting by Akash Sriram in Bengaluru; Editing by Tasim Zahid)

((Akash.Sriram@thomsonreuters.com; On X as @HoodieOnVeshti; +91-99017-77617;))

Adds details on numbers of shares sold in paragraph 2

Sept 4 (Reuters) - Japan's SoftBank Group 9984.T has lowered its shareholding in Indian electric scooter maker Ola Electric OLAE.NS to 15.68% from 17.83%, after selling a 2.15% stake over two months, an exchange filing showed on Thursday.

SoftBank, Ola Electric’s second-largest shareholder after founder Bhavish Aggarwal, sold a total of 94.9 million shares in a series of transactions between July and September. It did not disclose the sale price.

The Indian company, which went public in August 2024, has seen a sharp pickup in trading volumes in recent sessions. The stock closed more than 10% higher in two of the past four sessions.

(Reporting by Nishit Navin; Editing by Sonia Cheema)

((Nishit.Navin@thomsonreuters.com;))

** Shares of Ola Electric OLAE.NS up 35% this month, its best since listing on Aug 9, 2024

** Electric two-wheeler maker extends gains for fourth straight session, up 2% to 55 rupees on Friday

** Co secured production linked incentive compliance for its Gen 3 scooters on Tuesday; OLAE up 16% since

** On Aug 20, shares rallied some 18% on multiple block deals at premium

** Stock rated "hold" on avg by 7 analysts; median PT at 45 rupees- data compiled by LSEG

** YTD, OLAE down 34%

(Reporting by Komal Salecha)

((Komal@thomsonreuters.com;))