Ola Electric IPO Alert: Why Ola Electric's Market Presence Makes Their IPO Risky!
How many Ola Electric scooters have you seen on the roads so far? I have barely seen 1-2, even though I live in Delhi, a Tier 1 city. If you have seen any Ola scooters, do let us know in the comments.
This raises the question that although the company claims to have a 34% market share and sold 192,000 units in FY24, which brought their revenue to 7735 crore, why are they not generating a profit if sales are this high? And where is the presence of their products?
Zypp Electric and Blue Smart are also EV companies, and I have seen many of their vehicles. You must have seen them too? All these things raise questions about Ola Electric's presence, and the company is in losses anyway…
So, as an investor, based on their market presence, I would give them a 1/5 rating.
About Ola Electric:
Ola Electric Mobility Private Limited generates its revenue primarily from the sale of scooters, vehicle accessories, spare parts for vehicle repairs, chargers, and related services.
It is one of the key players in India's electric vehicle (EV) industry and has highest market share of 40.1% as of December 2023.
Ola Future factory is India's largest automated E2W manufacturing plant with an installed capacity of one million units per year. Ola Electric plans to double its electric vehicle manufacturing capacity from one million units per annum to two million units per annum by May 2024.
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