From Scooters to Storage:

OLAELEC

’s Strategic Shift Amid Market Pressure

has revised its FY26 revenue guidance downward amid falling two-wheeler sales and rising competition. The company is now pivoting toward its energy storage business to stabilize future growth and profitability. - FY26 revenue forecast cut by a third to ₹3,000–3,200 crore from earlier ₹4,200–4,700 crore. FY25 revenue was ₹4,514 crore; Ola expects ₹1,000 crore from its BESS business in FY27. - Q2FY26 revenue dropped 42% YoY to ₹756 crore; net loss narrowed to ₹418 crore from ₹495 crore. - Ola announced a ₹1,500 crore fundraise in September to support operations and expansion. - Q2 sales fell 47% YoY to 50,279 units, pushing Ola to fourth place among EV two-wheeler makers. - Ather Energy overtook Ola with 52,597 units; TVS led with 69,195, followed by Bajaj at 51,120. - Ola achieved Ebitda breakeven in its automobile business during Q2, focusing on profitability. The company plans to consolidate operations rather than chase market share aggressively. - Ola is expanding its lithium-ion gigafactory in Tamil Nadu from 1.4GWh to 5.9GWh by FY26. Original plan to reach 20GWh by FY27 has been reinstated, reversing July’s scale-back to 5GWh until FY29. - Energy products will diversify revenue beyond automotive, targeting inverter and rooftop solar markets. New energy products launched in September will begin sales in January, with ₹100 crore target for Q4.