Article

Ola Electric reported a consolidated revenue of Rs 470 crore and 32,680 deliveries in Q3 FY26. The company executed a structural reset to enhance its retail footprint and cost structure in response to slower EV penetration.

It achieved a gross margin of 34.3%, up from the previous year, driven by its vertically integrated model and operational discipline. The company plans to reduce quarterly operating expenses to Rs 250-300 crore, aiming for an EBITDA breakeven of 15,000 units monthly.

Notably, it doubled cell production to 72,418 cells and launched its first residential Battery Energy Storage System, Ola Shakti. The Gigafactory is currently at 2.5 GWh capacity, with plans to scale to 6 GWh by March 2026.