@hardik_shah1
You are absolutely right.
The top most 3 important parameters for the customer is (1) Build quality & Reliability (2) whether there is extensive Service network with well trained technicians at every corner of towns/ cities (3) Spare parts availability in service centers.
Initially, the customer may tend to buy whatever is cheaper , but then if there is any issues as mentioned above, word of mouth spreads and if the customer has a choice, then he would go for alternatives. This may be the reasons why Ola is losing market share.
Further , Bajaj is yet to ramp up its EV volumes…it has only shown a small trailer …you can not under-estimate this 1971 Chetak maker.
Hero was passionate about its motorcycle premium brand, but initially neglected the EV Scooter. Hero has realised this and now focussing on EV scooter. EV motorcycle costs goes up by 2X- 3X than its ICE motorcycle. So EV motorcycle can not be for the mass market.

TVS had also taken the potential of EV scooters seriously.

The EV 2 wheeler penetration will only grow by the year and onwards, barring seasonal factors.

While Bajaj , TVS, Hero started focussing EV scooter to snatch away Ola EV market share, the sleeping giant HMSI (Honda motors and scooters) took away some market share in ICE 2 wheelers from this Trio.

Honda (HMSI) is also ready with 2 wheeler scooter. Would be launched in a massive scale.
With all these players , there would be tough competition among all , though the EV market opportunity is huge , expected to grow 65% CAGR as per estimates from 2024 -2030.

Bajaj had also launched a 2 wheeler CNG which is selling like hot cake…By seeing roaring success of Bajaj CNG 2 wheeler , TVS is also launching a CNG.
Bajaj already has 3 wheeler CNG.

So the market is getting heated up and only the fittest can survive- who can deliver Quality , reliability with extensive service net work , soares availability.
In case of Ola , if we relate to Rabbit Tortoise story- Ola was rabbit , other Trio were Tortoise.It appears though Bajaj, Hero TVS were slow in EV 2 wheeler induction, finally the tortoise seem to have overtaken the rabbit