ICRA downgrades Ola Electric on weak sales and continued losses

Ola Electric has been downgraded by rating agency ICRA due to weak sales, ongoing losses and delays in achieving profitability, despite improvements in unit economics and cost control. "While the company retained a leadership position in the e2W segment in FY25, its market position weakened sharply through FY26," the report said. It competes with TVS Motor, Bajaj Auto and Ather.