December quarter showed a big twist in the EV sector, where Ola Electric, which was once the market leader, today came to the fourth position in the 2-wheeler segment. Falling from 37% market share to just 6% shows the rapid decline of the company. Initially Ola was called “Tesla” of India. Record sales, strong rally after IPO and 1 lakh bookings made the brand a unicorn. But slow service, battery issues, spare parts shortage and customer complaints damaged the brand trust. Revenue fell, share price came down from ₹150 to around ₹30 and investors suffered huge losses.