Motivation plays a pivotal role in students' academic success and overall performance in the learning process. However, the abrupt shift from face-to-face instruction to online learning, due to the Covid-19 pandemic, affected EFL students' motivation. To address this issue, this study aimed to explore the factors that affected students' motivation in online learning, using a sequential mixed-methods research design. The data were collected from 300 randomly selected EFL students from 30 purposively selected public colleges, and interviews were carried out with ten of the students during the months November and December 2021. The quantitative data were gathered using a survey questionnaire, while the qualitative data were collected through the interviews. The results showed that while learners were motivated to engage in online learning, only a few of them joined due to demotivating factors, primarily related to time management and technology use, rather than environmental factors. The study also identified an exciting learning environment, encouraging and instant feedback, transparent and persistent evaluation, and constant opportunities for learning as the major motivating factors. Conversely, poor technology, lack of proper access to the internet and electricity, learner skills and knowledge in using technology and collaborative tools, poor time management skills, and inadequate learning space were identified as the demotivating factors in online learning. The findings of this study highlight the importance of reducing demotivation factors to encourage learners' motivation for online learning. The study's results are useful for curriculum designers, policymakers, instructors, and students as they provide significant information to make online learning effective and meaningful, especially in EFL courses, thereby maximizing students' motivation and learning.