Ola Electric has announced a new upgrade initiative allowing customers with Gen 1 and Gen 2 electric scooters and motorcycles to exchange their vehicles for the latest Gen 3 models.
Founder and CEO Bhavish Aggarwal confirmed via a post on X that the programme will begin in Bengaluru this weekend.
Hardware and battery upgrades
The Gen 3 platform, first unveiled in early 2025 and later securing Production-Linked Incentive (PLI) certification, introduces notable hardware changes. These include mid-drive motors, chain-drive systems and broader efficiency enhancements.
Select variants are powered by advanced 4680 battery technology and claim a top riding range of up to 320 km on a single charge. The lineup also benefits from ongoing MoveOS software updates designed to enhance ride performance and ownership experience.
Strategic move amid competition
The exchange programme comes at a critical time for the company. Ola Electric has faced service-related complaints and regulatory scrutiny over previous models. Once commanding over one-third of the electric two-wheeler market at the end of 2024, its market share has reportedly fallen below 6%.
In contrast, competitors such as TVS Motor Company and Bajaj Auto have expanded their presence, collectively accounting for more than 60% of the segment.
Financially, the company’s third-quarter revenue declined sharply year-on-year, though losses narrowed slightly compared to the previous quarter.
Industry observers view the exchange offer as an attempt to rebuild consumer confidence, address concerns over earlier models and regain market momentum in India’s rapidly evolving electric mobility space.