Ola Electric has witnessed a sharp drop in its share in the electric two-wheeler segment this month. According to recent data, India's largest electric two-wheeler manufacturer has witnessed its market share shrink by nearly 16 per cent from the second quarter of the year to just one-third in August. The EV maker recently launched its Initial Public Offering (IPO) with its shares also dropping by around five per cent after initial gains.

According data sourced from Government of India and Jefferies, an investment banking and capital markets firm, Ola Electric's market share in the electric two-wheeler segment is down to just 33 per cent in August. The slump comes in the same month when the EV maker forayed into the electric motorcycle segment with the launch of the Roadster on August 15. The drop is in sharp contrast to Ola's commanding 49 per cent market share achieved in the quarter between April and June this year. In July, Ola's market share had dropped to 39 per cent.

While Ola continues to lead the electric two-wheeler segment, EV makers like TVS Motor and Bajaj Auto have gained market share during this period. TVS Motor is placed second in terms of market share with 19 per cent while Bajaj is third with 18 per cent contribution. Both these EV makers have gained about one per cent growth since July.

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