New Delhi, February 13 Ola Electric announced on Friday that its consolidated revenue from operations stood at Rs 470 crore, with a total of 32,680 units delivered in the third quarter ending December 31, 2025.
The Bengaluru-based firm stated that this quarter marks a significant restructuring for the company, as it realigned its retail footprint, cost structure, and operating model to a sustainable and stable state, amid slower growth in the adoption of electric vehicles and the need to strengthen service execution.
The company achieved a record consolidated gross margin of 34.3 per cent, an increase of 15.7 percentage points year-on-year and 3.4 percentage points quarter-on-quarter, reflecting the advantages of its vertically integrated model, the Gen 3 platform, and disciplined execution, it added.
"Q3 of FY26 marks a significant restructuring for Ola Electric. We chose to focus on the fundamentals by restoring service execution, resetting our cost structure, and deepening vertical integration. This has resulted in a leaner operating model with significantly lower break-even points and industry-leading gross margins," a company spokesperson stated.
With service metrics stabilizing and the manufacturing facility transitioning to commercial-scale deployment, the company is now positioned to enter the next phase of growth with significantly improved operating leverage, the spokesperson added.
The company stated that it has undertaken a comprehensive transformation of its operations through optimization of its store and service network and AI-led automation.
"Over the next couple of quarters, these measures are expected to bring quarterly consolidated operating expenses down to Rs 250-300 crore, reducing the company's EBITDA break-even to approximately 15,000 units per month," it added.
As demand recovers, this operating model is expected to enable a volume scaling of up to 3-4 times with minimal incremental operating expenses, resulting in strong operating leverage and a clearer path to sustainable profitability, the company stated.
During the quarter, the company doubled cell production quarter on quarter to 72,418 cells, achieved the first commercial deployment of in-house 4680 Bharat Cells into customer vehicles, and launched Ola Shakti, its first residential Battery Energy Storage System (BESS) product.
The Gigafactory (the company's production facility) is currently operating at around 2.5 GWh of installed capacity, with plans to scale up to 6 GWh by March 2026, it stated.
As global battery demand expands across electric vehicle adoption, solar-plus-storage, grid-scale deployments, and data center energy requirements, the Gigafactory provides a strategic lever to deepen vertical integration, improve unit economics, and meaningfully participate in the growing energy storage market, it added.