Ola Electric may have the greatest market share of any electric two-wheeler manufacturer in the country, but the Bengaluru-based firm, formed in 2017, has struggled since its first model reached Indian roads.
Ola Electric has received numerous complaints about its sales and service quality, but while sales have continued to rise - and the business will go public in August 2024 - it may be facing its greatest test yet. Ola Electric's stock price plunged by up to 9% in early Monday trade following a highly public fight between CEO Bhavish Aggarwal and Kunal Kamra, during which the comedian tweeted about the extremely serious issue of service quality on Sunday.
The Central Consumer Protection Authority, India’s consumer rights regulator, has sent a show-cause notice to Ola Electric over alleged violation of consumer rights, escalating troubles for the leading electric vehicle maker. https://t.co/8CqrD8J1V2@OlaElectric @bhash
— Kanthala Raghu (@KanthalaRaghu) October 7, 2024