Ola Electric Q3 net loss widens 50% to Rs 564 crore amid rising competition, service issues

Electric two-wheeler manufacturer Ola Electric‘s net loss widened by 50% to Rs 564 crore in the October-December quarter from Rs 376 crore a year earlier, primarily due to intensified competition and after-sales service challenges.The Bengaluru-based firm’s operating revenue declined 19% to Rs 1,045 crore from Rs 1,296 crore a year earlier. The company generates revenue primarily by selling electric scooter sales, with battery sales contributing a marginal portion.

“We faced a much more intense, tougher, competitive environment and we saw through…