Shares of Ola Electric were on the rise on Tuesday as the electric vehicle (EV) manufacturer clawed back some market share from rivals ahead of the festive season, as per the latest data. What Happened: Ola Electric has kicked off the festive season with strong momentum,

Ola Electric's shares surged nearly 4% on Tuesday as the company reported a significant increase in market share in India's electric two-wheeler market.

Ola Electric has kickstarted the festive season on a strong note and cemented its market leadership further in the EV 2W segment. According to the Vahan portal, the company has recorded over 15,672 registrations this month (as on October 14) with an impressive market share of 34 percent on the back of its wide S1 portfolio of scooters and the rapidly expanding service network.

The company is working on expanding its sales and service network through its Network Partner Program, with a goal to onboard 10,000 partners by the end of 2025. Ola Electric has also introduced the EV Service Training Program with the objective of training 1 lakh third-party mechanics to service EVs across India.

The automotive testing agency, functioning under the Ministry of Heavy Industries, has requested clarification from the EV company regarding the price reduction for its S1 X 2 kWh electric two-wheeler in the recently announced sale.

This surge in market share has been fueled by Ola’s S1 scooter portfolio and its rapidly growing service network. Ola Electric, India’s leading pure-play electric vehicle (EV) manufacturer, kicked off the festive season on a high note,