New Delhi, Oct. 1 -- Ola Electric Mobility Ltd sold nearly half as many electric scooters in the September quarter as it did a year ago, missing its sales target for achieving profitability for the seventh consecutive month, once again fuelling concerns over mounting cash burn and its sustainability.

With a 47% year-on-year drop in the second-quarter sales to 50,279 units, the company ceded further market share to rivals such as Ather Energy and legacy players TVS Motor Co. and Bajaj Auto.

It now ranks fourth in the list of Indian electric two-wheeler makers, with Ather jumping to the second position by selling 52,597 units in the quarter. TVS topped the list with 69,195 while Bajaj ranked third with 51,120.







In September, Ola sol...