Ola Electric to Lay Off Over 1,000 Employees in Cost-Cutting Move

Bengaluru-based electric vehicle (EV) manufacturer Ola Electric is once again in the spotlight for layoffs, with reports suggesting that the company plans to cut over 1,000 payroll employees and contract workers to reduce its losses. However, there has been no official confirmation from Ola Electric regarding these reports.

Mass Layoffs Across Departments

According to news reports, the SoftBank Group Corp.-backed company will lay off employees from various departments, including procurement, fulfilment, customer relations, and charging infrastructure.

This is not the first instance of mass firings at Ola. In November 2024, unverified reports suggested that the company had already let go of 500 employees.

With this latest round of layoffs, more than a quarter of Ola’s workforce—estimated at 4,000 employees as of March 2024—could be affected.

The decision follows a challenging financial quarter, with Ola Electric reporting a 50% increase in losses for the December 2024 quarter. This financial downturn comes after the company’s listing on the Bombay Stock Exchange (BSE) last year.

Restructuring and Cost-Cutting Measures

As part of its restructuring efforts, Ola is reportedly automating several aspects of its customer relations operations. Sources indicate that the company’s layoff plans may evolve based on business needs.

Additionally, front-end sales, service, and warehouse staff at Ola’s showrooms and service centres are being let go as part of a broader effort to revamp logistics and delivery strategies, aimed at curbing operational costs.

Ola Electric’s Performance in February 2025

Despite the layoffs, Ola Electric reported selling over 25,000 EV units in February 2025, capturing a 28% market share.

However, this figure remains significantly below the 50,000-unit monthly target set by CEO Bhavish Aggarwal during an earnings call earlier this year. The lower-than-expected sales highlight the company’s continued struggle to gain stability in an increasingly competitive EV market.

Recent Launches of Ola Electric

In an attempt to boost sales, Ola Electric introduced its first electric motorcycle, the Roadster X, in January 2025. The company has confirmed that deliveries for the vehicle will begin in March. The Roadster X series comes in three variants:

• X – Rs 74,999 (ex-showroom)
• X+ 4.5 kWh – Rs 1,04,999 (ex-showroom)
• X+ 9.1 kWh – Rs 1,54,999 (ex-showroom)

Stock Performance 

On March 03, 2025, Ola Electric Mobility share price ended 2.94% lower at ₹55.18. Ola Electric Mobility’s share price reached a 52-week high of ₹157.53, and a 52-week low of ₹53.71. As per BSE, the total traded volume for the stock stood at 57.63 lakh shares with a turnover of ₹31.73 crore.

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