Ola Electric cuts costs by $10.3m per month

Ola Electric has reduced its monthly cash burn by 90 crore rupees (US$10.3 million) following the completion of its cost-cutting program.

This initiative, part of the ‘Network Transformation and Opex Reduction Program’ launched in November 2024, aims to improve financial stability.

The company’s cost-cutting measures include the closure of all regional warehouses.

Vehicles, spare parts, and accessories are now shipped directly from factories to stores.

Recent Ola Electric developments

Timeline
12-Mar-2025 📉 Ola Electric shares drop 4.4%, reaches record low Ola Electric shares drop to US$0.58, record low Stock down 30% since IPO, market cap at US$2.6M
03-Mar-2025 📉 Ola Electric to cut over 1,000 jobs Ola Electric lays off over 1,000 employees. Restructuring to improve efficiency and cut costs.
28-Feb-2025 📦 Ola Electric shuts down warehouses to cut costs Ola Electric closes all regional warehouses. Plans to save 30 crore rupees monthly.
11-Feb-2025 📉 Ola Electric shares drop 4% as Q3 loss widens Ola Electric shares drop 4% to 67.80 rupees Company posts Q3 loss of 564 crore rupees
01-Feb-2025 ⚡ Ola Electric shares rise after Gen 3 scooter launch Ola Electric shares rise 14.43% to ₹76.50 New Gen 3 scooter series to launch with eight models

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