Ola Exits 170,000 Sq Ft Bengaluru Office Space amid EV Sales Slowdown

Ola has vacated approximately 170,000 square feet of commercial workspace in Bengaluru as the ride-hailing and electric vehicle manufacturer implements cost-reduction measures and adjusts operations following a deceleration in electric two-wheeler demand, according to multiple sources quoted by Economic Times Tech.

The organisation has relinquished over 112,000 sq ft at Prestige-RMZ Startech in Koramangala, vacating the complete seventh and eighth floors in Tower B. International consulting and technology corporation Accenture has acquired these floors, the report added.

At Infozone in Electronic City, where Ola operates its Battery Innovation Centre, the company surrendered nearly 60,000 sq ft last year from approximately 200,000 sq ft it formerly held.

Also read: Ola Electric Starts Deliveries of Home Battery Storage System

"Ola's surrender is largely part of internal consolidation rather than a market-driven exit, as demand for premium office space in Bengaluru remains strong, especially from GCCs and consulting firms," one of the people cited in the report said.

The individual noted that Ola maintains occupation of roughly 427,000 sq ft at Prestige Startech, accommodating its corporate headquarters and operations connected to Ola Electric and scooter divisions. The tenancy agreement for this space received renewal last year for five years, extending till October 2030.

Ola had relocated into the recently vacated space during April 2023, when it was expanding multiple divisions aggressively, and ran its call centre from there until automation replaced it last year, sources indicated.

"The company has rationalised its office footprint over the last year" as demand recalibration and cost optimisation have become its priorities, another person was quoted as saying.

Ola has additionally been implementing a sequence of workforce restructuring initiatives, progressively decreasing its headcount throughout 2024 and 2025 as it shifts towards automation and more streamlined operations.