New Delhi, Nov 30 (NationPress) Ola Electric, which used to dominate India's electric two-wheeler landscape, has fallen to fifth position in November due to escalating competition from established manufacturers.

Data from the government-run Vahan portal indicates that the company sold 8,254 scooters this month, resulting in a 7.4 percent market share.

This marks a significant drop from over 25 percent during the same time last year. This downturn coincides with Ola facing regulatory challenges, operational hurdles, and increasing rivalry from both legacy brands and newer entrants.

Hero MotoCorp, rapidly expanding in the EV sector with its Vida brand, has surpassed Ola to secure the fourth position.

It achieved sales of 11,795 electric scooters in November, capturing a 10.6 percent market share. This growth is fueled by new products introduced in the more affordable Vida segment.

Meanwhile, traditional two-wheeler powerhouses are solidifying their market positions. TVS Motor remains the leading seller with a 26.8 percent share, driven by the demand for its iQube.

Bajaj Auto follows closely with a 22.6 percent share, attributed to the popularity of its Chetak series.

Ather Energy retains third place, having sold over 20,000 units and achieving an 18.7 percent market share.

The changing rankings illustrate how companies with robust manufacturing capabilities, extensive distribution networks, and established supply chains are starting to dominate the rapidly evolving electric two-wheeler market.

Ola's declining market performance is evident in its financial outcomes. The company reported a 43 percent year-on-year decline in operating revenue to Rs 690 crore for the second quarter of FY26, although it has managed to cut losses through cost-saving measures.

In comparison, Ather Energy, often regarded as Ola's closest competitor, is expanding its advantage. Industry executives attribute Ather's growth to superior product quality, exceptional after-sales service, and its extensive Ather Grid charging network.

Ather announced an operating revenue of Rs 899 crore for the same quarter, marking a 54 percent increase from the previous year, while its net loss decreased by 22 percent to Rs 157 crore.

Ather's asset-light approach, which relies on dealerships as opposed to company-owned outlets, has also played a role in controlling costs. In contrast, Ola, which operates over 3,000 company-run outlets, has a heavier cost structure.

The stock market reflects the contrasting fortunes of the two companies. Ather, which went public in May 2025, currently holds a market value of Rs 24,348 crore, surpassing Ola Electric's Rs 18,168 crore. Ola was listed earlier, in August 2024.