Ola Electric Mobility Ltd disclosed spending ₹229 crore on its electric three-wheeler development, with the launch delayed to between March 2027 and March 2028, according to its fiscal 2026 annual report released this week. The Bengaluru-based company had initially planned to launch a passenger electric three-wheeler between June 2025 and January 2026, followed by a cargo model in December 2026.
The company had invested heavily in the three-wheeler programme as part of its strategy to diversify beyond electric scooters. However, the project has faced setbacks, pushing the timeline back by over a year. Ola Electric’s annual report detailed the expenditure and revised schedule, marking the first time the company publicly disclosed the scale of its investment in this segment.
The delay in launching the three-wheeler model comes amid intense competition in India’s electric vehicle market, where firms are racing to capture share in passenger and cargo segments. Ola Electric’s initial plan to enter the three-wheeler space was seen as a move to challenge established players and expand its product portfolio. The ₹229 crore investment highlights the company’s commitment despite the postponement, reflecting the complexities of developing new EV models.
Ola Electric’s next update on the three-wheeler programme is expected with its fiscal 2027 results, which will provide more clarity on the project’s progress and potential market entry. The company’s annual report for fiscal 2026 was published on September 8, 2026.