New Delhi, May 28 -- One year can be a long time in business. In May 2024, Bhavish Aggarwal-led Ola Electric Mobility Ltd dominated India's electric two-wheeler market and was 3 months from a public listing at a valuation of $4 billion.

Investors saw the company with excitement as legacy two-wheeler makers remained cautious about jumping into the electric vehicle market. When Ola Electric listed in August 2024, its share price doubled within a fortnight.

For the Bengaluru-based startup, it did not seem like its fortunes could go awry, until they did.

Cut to May 2025 and Aggarwal, Ola Electric's founder and chief executive, is busy putting out fires. The company's share price has plunged more than30%since listing on9 August 2024and the ...