According to the latest financial results, Ola Electric's Q4 revenue dropped 57% to ₹265 crore, compared with previous quarters. The company also reported a net loss of ₹500 crore during the quarter. As per market reports, the significant revenue decline has impacted investor sentiment, with Ola Electric shares falling 4% following the earnings announcement. The company's financial performance reflects the challenges in scaling electric vehicle manufacturing and battery production operations.
According to a shareholder communication dated May 21, Ola Electric Chairman and Managing Director Bhavish Aggarwal announced the company's plan to transition its entire vehicle portfolio to internally manufactured battery cells by September 2026. The company has already achieved 15% of current orders from products powered by its own 4680 Bharat Cells, which have been commercialised and deployed in vehicles. As reported by the company, this represents a significant step toward achieving complete vertical integration in battery manufacturing.
The company's Gigafactory currently operates at 2.5 GWh capacity, with installation for scaling up to 6 GWh largely complete, according to the shareholder communication. Commercialisation of the expanded capacity is expected by the end of the current quarter. This expansion significantly increases the facility's production capabilities and supports the company's goal of achieving 100% in-house battery manufacturing within the specified timeline.
According to the company's financial results, consolidated gross margin rose to 38.5% in Q4 FY26, compared with 34.3% in the previous quarter and 13.7% a year ago. As reported by Ola Electric, this represents an industry-leading margin profile that the company attributes to vertical integration, Gen 3 platform maturity and pricing optimisation. The significant margin improvement demonstrates the effectiveness of the company's strategic focus on manufacturing capabilities.
According to Aggarwal's shareholder communication, the company has moved beyond its heavy build phase and is entering a disciplined scale phase. Ola Electric outlined plans to scale both electric mobility and battery manufacturing businesses, while also expanding into energy storage solutions through its Shakti and Mahashakti platforms. This diversification strategy positions the company for comprehensive growth across multiple sectors of the electric mobility ecosystem.
