Ola Electric shrugs off Maharashtra crackdown, says no impact on Q2 sales

Ola Electric on Tuesday, July 15, said it does not expect regulatory headwinds in Maharashtra to weigh on its sales performance in the second quarter, even as reports indicate the state is moving to shutter nearly 90% of its stores over compliance issues.Speaking to CNBC-TV18, Bhavish Aggarwal, Founder and CEO of Ola Electric, said the company remains engaged with Maharashtra authorities on license and permit compliance. However, he clarified that Ola has not received any official communication from the state government regarding the shutdown of its stores.

His statement comes in response to reports suggesting that Maharashtra’s transport department had, in a letter dated July 3, informed the state transport minister’s office that local authorities had taken action against Ola showrooms lacking valid trade certificates.

Mint, on July 13, reported that this could impact about 90% of Ola’s 450 stores in the state, a key market that accounted for 12% of the company’s sales last fiscal.Despite these developments, Aggarwal said the company does not foresee regulatory challenges in Maharashtra derailing its Q2 sales trajectory.

Separately, Ola reported a strong set of numbers for the April-June quarter, with revenue from operations rising 35.5% sequentially to ₹828 crore, up from ₹611 crore in the March quarter. The company delivered 68,192 vehicles in Q1 FY26, a 32.7% increase from 51,375 units in Q4 FY25.

The developments come as Ola faces mounting competition in the electric two-wheeler space, having ceded market share to rivals TVS Motor Co. and Bajaj Auto. Maharashtra, which recorded sales of 212,000 electric two-wheelers last fiscal, remains India’s largest EV scooter market.