🧠 Food for thought

Implications, context, and why it matters.

Ola’s 4680 (46 mm x 80 mm cylindrical) cell tech lacks independent checks on specs

• Ola says its Bharat Cell hits 275 Wh/kg, five times 2170 cells, and works from 10–70°C with 1,000+ cycles 1. No outside lab data backs this beyond ARAI certification for the 5.2 kWh pack variant 2.
• Capacity sits at 2.5 GWh in Q2 FY26, short of the 5.9 GWh goal for March 2026 2. Scaling with those specs looks hard given a 43% revenue drop and continued losses 2.
• Chemistry plans are murky. The firm uses NMC (nickel manganese cobalt) now, then targets LFP (lithium iron phosphate) and LMFP (lithium manganese iron phosphate) within a couple of years 1. Buyers lack visibility, as do investors, on which chemistry powers S1 Pro+ deliveries or how the shift hits cost and safety at volume 1.

Rivals can use Ola’s 18-point market share slide

• Share fell from 25% in January 2024 to 7.2% in November 2024 as sales went from 22,656 to 7,567 units 3. TVS Motor Company and Bajaj Auto gained in that window, which reshuffled share 3.
• Battery cell makers and charging networks should work with the rising OEMs, not Ola. Electric two-wheeler retail share fell to 4.568% in October 2025 from 6.76% a year earlier, so winners are taking more of a shrinking pie 4.
• Fleet operators and vehicle-finance firms can use Federation of Automobile Dealers Associations (FADA) registration data from 1,375 Regional Transport Offices (RTOs) 3 to spot brand and region momentum. Move early to strike better terms with the likely winners.