Ola Electric to cut around 1,000 jobs in restructuring exercise to reduce losses
3 weeks, 5 days ago

Ola Electric to cut around 1,000 jobs in restructuring exercise to reduce losses

Live Mint  

New Delhi, Mar 3 Ola Electric Mobility is cutting around 1,000 jobs across different functions as part of a restructuring exercise to reduce losses, according to people aware of the development. "We have restructured and automated our front-end operations delivering improved margins, reduced cost, and enhanced customer experience while eliminating redundant roles for better productivity," a spokesperson of Ola Electric Mobility said. The second round of job cuts in the company within five months comes at a time when Ola Electric has been taking strategic moves to boost EBITDA margins by almost 10 percentage points, besides improving inventory management and faster customer deliveries. Last year the Central Consumer Protection Authority had ordered a detailed probe into complaints related to alleged "deficiencies" in services and electric two-wheelers manufactured by Ola Electric.

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History of this topic

Ola Electric’s lay-offs rattle India’s growing EV job market
6 days, 22 hours ago

Ola Electric’s lay-offs rattle India’s growing EV job market

The Hindu  

India’s electric vehicle job market, where active EV start-ups employ over 1,10,000 people across different parts of the talent pyramid, seems suddenly caught in a quagmire as an unexpected juxtaposition of events hit the market recently. In mid February, Elon Musk-led EV manufacturer Tesla listed several open positions, including customer facing roles, engagement managers, delivery specialists, and service technicians in …

Ola Electric shares jump over 6% after clarification on February sales data
1 week, 2 days ago

Ola Electric shares jump over 6% after clarification on February sales data

India Today  

Ola Electric Mobility shares jumped as much as 5% in early trade after the EV two-wheeler maker issued a clarification about sales and registration mismatch in February. In its clarification, the company said the difference between its vehicle sales and registrations in February was due to a temporary backlog that was caused by vendor negotiations. This backlog is being rapidly …

Ola Electric clarifies February sales mismatch: Temporary backlog in registrations
1 week, 2 days ago

Ola Electric clarifies February sales mismatch: Temporary backlog in registrations

India Today  

Ola Electric has clarified that the difference between its vehicle sales and registrations in February was due to a temporary backlog caused by vendor negotiations. Ola Electric addressed concerns about the mismatch in a stock exchange filing, saying that daily registrations have now exceeded 50% of its three-month daily sales average. 40% of the February backlog has already been cleared, …

Govt asks ARAI to probe Ola Electric’s sales figure mismatch, consumer complaints
1 week, 2 days ago

Govt asks ARAI to probe Ola Electric’s sales figure mismatch, consumer complaints

Live Mint  

New Delhi, Mar 20 The Heavy Industries Ministry has directed Automotive Research Association of India to probe the mismatch between Ola Electric's reported sales figures and actual vehicle registrations along with numerous consumer complaints against the Bhavish Aggarwal-owned electric two-wheeler maker and submit a report within 15 days, sources said. Ola Electric has been facing regulatory heat with multiple authorities …

Ola Electric under scrutiny over mismatching sales and registration data: Report
1 week, 2 days ago

Ola Electric under scrutiny over mismatching sales and registration data: Report

Hindustan Times  

Ola Electric is currently facing increased regulatory scrutiny with the Ministry of Heavy Industries seeking details about discrepancies between the its reported sales and actual vehicle registrations. Ola Electric's S1 Air e-scooters are pictured inside its manufacturing facility in Pochampalli in the southern state of Tamil Nadu, August 15, 2023. As part of the probe, Maharashtra RTO officials inspected multiple …

Ola Electric share price falls 4% on reports of regulatory scrutiny over discrepancy in sales data
1 week, 2 days ago

Ola Electric share price falls 4% on reports of regulatory scrutiny over discrepancy in sales data

Live Mint  

Ola Electric share price declined 4% on Thursday on reports of regulatory scrutiny of discrepancies in EV scooter registrations. This discrepancy follows recent regulatory scrutiny faced by Ola Electric, with transport authorities across multiple states taking action due to the absence of valid trade certificates. Ola Electric Stock Price Trend Ola Electric shares have declined 14% in one month and …

Ola Electric shares hit 52-week low after insolvency petition by creditor
1 week, 5 days ago

Ola Electric shares hit 52-week low after insolvency petition by creditor

Hindustan Times  

Shares of Ola Electric Mobility Ltd tanked over 7 per cent on Monday morning after the firm said its vehicle registration service provider Rosmerta Digital Services Ltd has sought the initiation of insolvency proceedings against its wholly-owned arm Ola Electric Technologies Pvt Ltd. Ola Electric's S1 Air e-scooters are pictured inside its manufacturing facility in Pochampalli in the southern state …

Ola Electric shares tumble over 7%; hit 52-week low
1 week, 5 days ago

Ola Electric shares tumble over 7%; hit 52-week low

The Hindu  

Shares of Ola Electric Mobility Limited tanked over 7% on Monday morning after the firm said its vehicle registration service provider Rosmerta Digital Services Limited has sought the initiation of insolvency proceedings against its wholly-owned arm Ola Electric Technologies Private Limited. Rosmerta Digital Services Limited, an operational creditor of Ola Electric Technologies Private Limited.” The petition has been submitted before …

Ola Electric deliveries delayed over price renegotiation with vehicle registration agencies: Report
2 weeks, 1 day ago

Ola Electric deliveries delayed over price renegotiation with vehicle registration agencies: Report

Hindustan Times  

Ola Electric's decision last month to renegotiate contracts with two of India’s largest vehicle registration agencies resulted in delayed deliveries. The waiting period ended up increasing to 20-45 days from 5-7 days before February, according to a Mint report which cited managers at seven Ola Electric stores across New Delhi, Mumbai and Bengaluru as saying. Ola Electric also needs these …

Ola Electric’s scooter deliveries hit as it renegotiates contracts with vehicle registration agencies to cut costs
2 weeks, 1 day ago

Ola Electric’s scooter deliveries hit as it renegotiates contracts with vehicle registration agencies to cut costs

Live Mint  

Ola Electric Mobility Ltd’s decision to renegotiate contracts with two of India’s largest vehicle registration agencies last month has resulted in prolonged delays in the deliveries of its scooters, according to store managers and complaints posted by buyers on social media. The waiting period for the company’s electric scooters increased to 20-45 days from 5-7 days before February, managers at …

Ola Electric claims cost reduction program will save ₹90 crore a month, achieve EBITDA break even for next quarter
2 weeks, 3 days ago

Ola Electric claims cost reduction program will save ₹90 crore a month, achieve EBITDA break even for next quarter

Hindustan Times  

Ola Electric announced on Wednesday that it has successfully finished implementing a company-wide cost cutting program, resulting in savings of ₹90 crore a month. One of the Ola Electric employees seen at the EV maker's assembly line at its facility Futurefactory near Chennai, developing the S1 and S1 Pro electric scooters. Dubbed the Network Transformation and Opex Reduction Program, its …

Ola Electric becomes first 2W EV manufacturer to bag PLI incentives
3 weeks, 2 days ago

Ola Electric becomes first 2W EV manufacturer to bag PLI incentives

The Hindu  

Ola Electric, India's largest electric vehicle company, has achieved a significant milestone by becoming the first two-wheeler automotive electric vehicle manufacturer in India to receive incentives under the Production Linked Incentive Scheme for Automotive and Auto Component. The PLI-Auto Scheme, launched by the Government of India, aims to boost domestic manufacturing in the automotive sector and promote the adoption of …

Ola Electric misses battery production deadline despite PLI ACC scheme support; Stock down 6.8% in last five sessions
Trending News
3 weeks, 4 days ago

Ola Electric misses battery production deadline despite PLI ACC scheme support; Stock down 6.8% in last five sessions

Live Mint  

The Bhavish Aggarwal-led electric vehicle maker Ola Electric Mobility Limited announced on Tuesday, March 4, that it had missed the deadline for the “Programme Agreement” between the Ministry of Heavy Industries and a wholly-owned subsidiary of the automaker. Ola Electric will be the first to commercially manufacture lithium-ion cells in India under the government's ACC PLI scheme, the spokesperson added. …

Ola Electric to lay off 1,000 to control losses: Report
3 weeks, 5 days ago

Ola Electric to lay off 1,000 to control losses: Report

Hindustan Times  

Ola Electric Mobility Ltd is laying off more than a thousand employees and contract workers, reports Bloomberg. Ola Electric CMD Bhavish Aggarwal addresses the media during the announcement of the company's initial public offering, in Mumbai. Ola is also automating parts of its customer relations operations and the layoff plans may even change over time as per business needs. Though …

Ola Electric shares crash 5% to 52-week low amid reports of over 1,000 job cuts by company
3 weeks, 5 days ago

Ola Electric shares crash 5% to 52-week low amid reports of over 1,000 job cuts by company

Live Mint  

Shares of two-wheeler electric vehicle manufacturer Ola Electric crashed 5% to a fresh 52-week low on Monday, March 3, amid reports that Bhavish Aggarwal-led company is looking to lay off over a thousand employees and contract workers to contain losses. This would be the second round of job cuts in under five months by Ola Eletric, which reportedly laid off …

Explained: Why Ola Electric shares fell over 5% to hit 52-week low today
Top News
3 weeks, 6 days ago

Explained: Why Ola Electric shares fell over 5% to hit 52-week low today

India Today  

Ola Electric Mobility shares took a beating on Monday, sinking over 5% to a new record low. The latest fall comes after a report claimed that Ola Electric is gearing up to fire 1,000 employees to cut down on losses. The news pushed Ola Electric’s stock down to its 52-week low of Rs 54. Ola Electric is also trying to …

Ola Electric to lay off over a thousand employees amid declining sales
3 weeks, 6 days ago

Ola Electric to lay off over a thousand employees amid declining sales

New Indian Express  

MUMBAI: Electric two-wheeler manufacturer Ola Electric is laying off over a thousand employees and contract workers as part of a cost-cutting measure to address mounting losses. When contacted, an Ola Electric spokesperson said, “We have restructured and automated our front-end operations, delivering improved margins, reduced costs, and enhanced customer experience while eliminating redundant roles for better productivity.” In November last …

Ola Electric likely to cut over 1,000 jobs amid rising losses: Report
Top News
3 weeks, 6 days ago

Ola Electric likely to cut over 1,000 jobs amid rising losses: Report

India Today  

Ola Electric Mobility Ltd is planning to lay off over 1,000 employees and contract workers as the company looks to reduce its growing losses, according to a report by Bloomberg. LOSSES AND MARKET CHALLENGES Ola Electric went public in August 2023 but has faced multiple challenges since then. On March 1, Ola Electric informed Indian stock exchanges that it had …

Ola Electric’s sales plunge in a shrunk market. But its data says otherwise.
1 month ago

Ola Electric’s sales plunge in a shrunk market. But its data says otherwise.

Live Mint  

New Delhi: Ola Electric Technologies Ltd’s monthly registrations fell to a near three-year low in February while its legacy rivals raced to grab a larger share of India’s shrunk electric two-wheeler market. TVS Motor sold 17,605 electric bikes and scooters, claiming a 24.5% market share in February, followed by Ola Electric’s closest new-age rival Ather Energy that registered 11,130 vehicles, …

Ola Electric needs to sell 50,000 EVs a month to be profitable: Bhavish Aggarwal
1 month, 3 weeks ago

Ola Electric needs to sell 50,000 EVs a month to be profitable: Bhavish Aggarwal

Live Mint  

New Delhi: Homegrown electric two-wheeler maker Ola Electric will need to consistently sell 50,000 units every month in order to achieve profitability, its founder and chief executive officer Bhavish Aggarwal said on Friday. Speaking at an analyst call after the company’s December quarter earnings, Aggarwal said that Ola Electric sold 25,000 units in January, with which he claimed that the …

Ola Electric Q3 Results: Net loss widens to ₹564 crore, revenue drops 19% YoY
1 month, 3 weeks ago

Ola Electric Q3 Results: Net loss widens to ₹564 crore, revenue drops 19% YoY

Live Mint  

Ola Electric Q3 Results: Electric two-wheeler maker Ola Electric Mobility on Friday reported a net loss of ₹564 crore for the third quarter of FY25. In the quarter ended September 2024, Ola Electric Mobility posted a net loss of ₹495 crore. In January, we’re back to market leadership with an expected gross margin of approx 26%, up from 20.4% in …

Ola Electric stock bounces back with 4.5% gain after 3-day slump, still down 15% in January
Trending News
2 months, 2 weeks ago

Ola Electric stock bounces back with 4.5% gain after 3-day slump, still down 15% in January

Live Mint  

Shares of Ola Electric Mobility, India's leading two-wheeler electric vehicle manufacturer, staged a strong rebound in trade on Tuesday, January 14, ending their three-day losing streak. Ola Electric share price opened today’s session at ₹71.50 apiece and continued to surge, reaching a day’s high of ₹73.46—a 4.61% gain compared to the previous closing price of ₹70.18. In a letter shared …

Stocks to Watch: Vedanta, Ola Electric, Avenue Supermarts, PCBL, and more
2 months, 2 weeks ago

Stocks to Watch: Vedanta, Ola Electric, Avenue Supermarts, PCBL, and more

Live Mint  

Here’s a quick look at stocks likely to be in focus in today's trade. Avenue Supermarts: Avenue Supermarts Ltd., the operator of the DMart retail chain, reported a 4.8 percent year-on-year rise in net profit to ₹723.7 crore for the quarter ended December 31, 2024. Just Dial: Local search engine Just Dial Ltd. reported a robust 42.7 percent year-on-year increase …

Ola Electric faces increased scrutiny as Central Consumer Protection Authority seeks more information
2 months, 2 weeks ago

Ola Electric faces increased scrutiny as Central Consumer Protection Authority seeks more information

Live Mint  

The Central Consumer Protection Authority, which has requested additional information from Ola Electric Mobility in relation to a December order, the company told the exchanges on January 10. Requests for Additional Information “In continuation of the earlier letter received from the Central Consumer Protection Authority, dated December 04, 2024, by Ola Electric Mobility, we would like to inform you that …

Will Ola Electric Mobility's motorcycle bet pay off?
2 months, 4 weeks ago

Will Ola Electric Mobility's motorcycle bet pay off?

Live Mint  

Ola Electric Mobility Ltd's stock has fallen by nearly 10% after it said on 25 December that it would expand its network to 4,000 outlets from 800 to improve customer service. Even though the current penetration of electric scooters is just about 21.4% in total scooter sales as of September, the fact remains that Ola allowed incumbent internal combustion engine …

Ola Electric share price tumbles 3% after resignation of top officials
2 months, 4 weeks ago

Ola Electric share price tumbles 3% after resignation of top officials

Live Mint  

Ola Electric Mobility share price fell over 3 per cent to ₹87.35 during the early trading session on Monday, December 30 after the resignation of Chief Marketing Officer Anshul Khandelwal and Chief Technology and Product Officer Suvonil Chatterjee. Ola Electric Mobility announced the resignation of its CTO and CMO, effective immediately, from Friday, December 27. “We hereby inform you that …

Explained: Why Ola Electric share price surged 6% in early trade
3 months ago

Explained: Why Ola Electric share price surged 6% in early trade

India Today  

Ola Electric Mobility's share price gained 6% after it announced a significant expansion of its retail footprint. The company aims to enhance electric vehicle adoption by extending its reach beyond tier-1 and tier-2 cities to smaller towns and tehsils across India. Earlier this month, Ola Electric received a showcause notice from the Central Consumer Protection Authority for additional documents regarding …

Ola Electric store count to touch 4,000 this Christmas; CEO Bhavish Aggarwal eyes presence in ’every town, city, tehsil’
3 months, 1 week ago

Ola Electric store count to touch 4,000 this Christmas; CEO Bhavish Aggarwal eyes presence in ’every town, city, tehsil’

Live Mint  

Ola Electric Mobility has announced that it will expand its stores to 4,000 locations on Christmas, December 25. “Ola Electric is set to expand its sales and service network to 4,000 on December 25th, marking one of the fastest rollouts of EV distribution globally. With 3,200 new stores complementing its existing footprint, Ola Electric is bringing its portfolio of affordable, …

OLA Electric stock rebounds 15% from day’s low amid aggressive store expansion push—details here
3 months, 3 weeks ago

OLA Electric stock rebounds 15% from day’s low amid aggressive store expansion push—details here

Live Mint  

Despite starting today’s trading session on a weak note, falling 7 per cent, OLA Electric shares staged a strong recovery, erasing early losses to trade at ₹93.70 apiece, up 7 per cent from the previous close of ₹87.41. Despite the drop, OLA Electric retained its leadership position in the electric two-wheeler segment, holding a market share of 24.54 per cent …

Ola Electric stock extends gains to 5th straight day, jumps another 6% to 7-week high
4 months ago

Ola Electric stock extends gains to 5th straight day, jumps another 6% to 7-week high

Live Mint  

Stock Market Today: Ola Electric share price continued its winning streak for the fifth consecutive session, rising another 6.24% in morning trade on Thursday, November 28, to a seven-week high of ₹93.60 apiece. In another positive development, global brokerage firm Citi Research initiated coverage on Ola Electric stock with a ‘buy’ rating and a target price of ₹90 per share. …

Explained: Ola Electric share price jumped 13% today
Trending News
4 months ago

Explained: Ola Electric share price jumped 13% today

India Today  

Shares of Ola Electric Mobility surged on Wednesday, climbing as much as 13% in intraday trading following the announcement of its new range of electric scooters. On November 26, Ola Electric announced the launch of four new electric scooters: Ola Gig, Ola Gig+, Ola S1 Z, and Ola S1 Z+, priced at Rs 39,999, Rs 49,999, Rs 59,999, and Rs …

Superhero minus cape: CCPA wants to protect Indian consumers but its hands are tied
4 months ago

Superhero minus cape: CCPA wants to protect Indian consumers but its hands are tied

Live Mint  

Mumbai: When comedian Kunal Kamra began posting videos of old, dusty piled up scooters lying before Ola Electric service centres, he seemingly triggered a tidal wave of rants by Ola customers who had long given up on any redressal. India’s newest regulator, set up in 2020 to exclusively protect consumer rights, issued a show-cause notice to Ola Electric for violating …

Ola Electric cuts 500 jobs across verticals
Trending News
4 months, 1 week ago

Ola Electric cuts 500 jobs across verticals

Deccan Chronicle  

New Delhi: Ola Electric Mobility is cutting 500 jobs across verticals and levels as part of a restructuring exercise, according to people aware of the development. It has been a gradual process of removing redundant roles across verticals and levels,” said a source. Ola Electric is looking to optimise workforce with an aim to improving margins and enhance profitability, the …

Ola Electric layoffs: Here's why Bhavish Aggarwal-led company is set to cut 500 job
4 months, 1 week ago

Ola Electric layoffs: Here's why Bhavish Aggarwal-led company is set to cut 500 job

Firstpost  

This development comes amid heightened scrutiny over Ola Electric’s after-sales service quality and safety issues that have been plaguing the products of the two-wheeler manufacturer Ola’s sales volumes dropped by almost 25 per cent in the first half of this fiscal year — down to around 483,000 units from 643,000 units a year earlier. File image Bhavish Aggarwal-led Ola Electric …

Ola Electric may lay off 500 workers as company faces financial challenges: Report
4 months, 1 week ago

Ola Electric may lay off 500 workers as company faces financial challenges: Report

Hindustan Times  

Ola Electric Mobility Limited is now planning to lay off more than 500 employees across various roles as part of a new restructuring exercise to try to become profitable, Moneycontrol reported citing unnamed sources. Ola Electric CMD Bhavish Aggarwal addresses the media during the announcement of the company's forthcoming initial public offering, in Mumbai HT couldn't independently verify the information. …

Ola Electric layoffs: 500 employees likely to lose jobs amid restructuring
4 months, 1 week ago

Ola Electric layoffs: 500 employees likely to lose jobs amid restructuring

India Today  

Ola Electric is reportedly preparing for a restructuring drive that could impact over 500 employees, representing more than 12% of its 4,000-strong workforce, reported Business Standard. In its first post-IPO financial results for Q2 FY25, Ola Electric reported a 38.5% year-on-year revenue growth to Rs 1,240 crore, primarily driven by a 73.6% increase in deliveries. Ola Electric’s network of 782 …

Ola Electric laying off 500 employees in restructuring move
Trending News
4 months, 1 week ago

Ola Electric laying off 500 employees in restructuring move

Live Mint  

Electric two-wheeler maker Ola Electric is set to let go of nearly 500 employees across teams as part of a restructuring exercise to improve margins and profitability prospects, a person in the know of the matter told Mint. The development comes months after Ola Electric’s sister company Ola Consumer, formerly Ola Cabs, announced a restructuring exercise in April that would …

Ola Electric Layoffs: EV Firm Plans To Fire 500 Employees Amid Restructuring, Says Report
4 months, 1 week ago

Ola Electric Layoffs: EV Firm Plans To Fire 500 Employees Amid Restructuring, Says Report

ABP News  

Ola Electric Layoffs: Ola Electric is reportedly planning to start a restructuring initiative that will impact over 500 employees across various roles within the organisation. This development comes seven months after Ola Electric’s sister company, Ola Consumer, announced plans for a restructuring that would impact at least 10 per cent of its staff. Earlier this month, Ola Electric released its …

Ola Electric faces govt probe amid complaints over service standards
4 months, 2 weeks ago

Ola Electric faces govt probe amid complaints over service standards

Hindustan Times  

The Bureau of Indian Standards will probe Ola Electric, the country’s largest maker of e-scooters, for deficient services and product quality, an official said on Thursday. The move comes after CCPA’s notice to Ola Electric last month, seeking a response from the SoftBank-backed company over more than 10,000 complaints from customers on the National Consumer Helpline. Angry customers recently took …

Trouble for Ola Electric: Consumer watchdog orders probe into complaints
4 months, 2 weeks ago

Trouble for Ola Electric: Consumer watchdog orders probe into complaints

Live Mint  

Signalling mounting trouble for Ola Electric, the Central Consumer Protection Authority has ordered a detailed probe into alleged “deficiencies” in the company’s services and products, specifically regarding its scooters. The top consumer rights regulator has directed the Bureau of Indian Standards to verify the company’s claims regarding its resolution of customer grievances, consumer affairs secretary Nidhi Khare said on Thursday. …

More trouble for Ola Electric, faces investigation over service standards: Report
Trending News
4 months, 2 weeks ago

More trouble for Ola Electric, faces investigation over service standards: Report

India Today  

The country's leading certification agency, the Bureau of Indian Standards, is set to investigate Ola Electric over alleged deficiencies in service standards and product quality, according to Consumer Affairs Secretary Nidhi Khare. In October, the CCPA requested Ola Electric to explain why it had received nearly 10,000 complaints from customers. The rising volume of complaints has brought regulatory scrutiny upon …

Ola Electric to launch new EVs every quarter, expand store network to 2,000 by 2025
4 months, 3 weeks ago

Ola Electric to launch new EVs every quarter, expand store network to 2,000 by 2025

New Indian Express  

MUMBAI: Ola Electric, India’s largest electric two-wheeler manufacturer, is ramping up its expansion efforts with plans to launch one new product every quarter and increase its company-owned stores to 2,000 by March 2025. “Over the next two years, we will be launching 20 products, with at least one new product launch every quarter,” stated Ola Electric in its latest investor …

Ola Electric Q2 Results: Firm posts net loss of ₹495 crore; revenue rises 39% y-o-y
4 months, 3 weeks ago

Ola Electric Q2 Results: Firm posts net loss of ₹495 crore; revenue rises 39% y-o-y

Live Mint  

Electric two-wheeler maker Ola Electric Mobility posted a consolidated net loss of ₹495 crore for the September 2024 quarter on Friday, November 8. The loss narrowed from ₹524 crore a year earlier, but widened over ₹347 crore in the June 2024 quarter. In an earnings call with investors after the results, Ola Electric CEO Bhavish Aggarwal said the company was …

District Consumer Commission Holds Ola Electric Liable, Orders Refund Of Rs. 1.63 Lakhs To Scooter Owner
4 months, 3 weeks ago

District Consumer Commission Holds Ola Electric Liable, Orders Refund Of Rs. 1.63 Lakhs To Scooter Owner

Live Law  

While holding Ola Electric liable for deficiency in service and unfair trade practices, the District Consumer Disputes Redressal Commission, Ranga Reddy, Telangana bench, consisting of Chitneni Latha Kumari, PVTR Jawahar Babu, and J Shyamala directed Ola Electric to refund Rs. Further, complainant continued to experience difficulties and after repeated complaints Ola Electric finally picked up vehicle in August. Being frustrated …

Consumer Complainants' Joy: Ola Electric Resolves 99.1% of Complaints
5 months ago

Consumer Complainants' Joy: Ola Electric Resolves 99.1% of Complaints

Hindustan Times  

Kunal Kamra's post on Ola Electric's complaints garners mixed reactions. While he celebrates 99% of the complaints resolved, he questions the company's handling of user complaints and the applicability of the Consumer Protection Act (CCPA). The debate highlights the ongoing challenges faced by Ola Electric in addressing consumer grievances and maintaining transparency in its communication.

Resolved 99.1% of complaints, says Ola Electric on consumer panel notice
5 months, 1 week ago

Resolved 99.1% of complaints, says Ola Electric on consumer panel notice

India Today  

Electric two-wheeler manufacturer Ola Electric has said that it has resolved more than 99% of the complaints it received from Central Consumer Protection Authority related to its vehicles. The company received a show cause notice from CCPA on October 7 for alleged violation of consumer rights, misleading "In continuation to our letter dated October 7, 2024, regarding the intimation to …

Ola Electric Mobility losses widen to ₹347 crore in Q1 2024-25
7 months, 2 weeks ago

Ola Electric Mobility losses widen to ₹347 crore in Q1 2024-25

Hindustan Times  

Ola Electric Mobility on Wednesday reported a higher consolidated loss of ₹347 crore for the April-June quarter compared to the year-ago period. Bhavish Aggarwal, CEO of Ola Cabs, and founder of Ola Electric, speaks during a press conference ahead of the company's IPO launch in Mumbai. The quarter witnessed the highest-ever deliveries of vehicles by the company at 1,25,198 units …

Ola Electric Eyes Lower Valuation of $4.5 Billion for IPO: Report
8 months, 1 week ago

Ola Electric Eyes Lower Valuation of $4.5 Billion for IPO: Report

News 18  

SoftBank-backed Indian e-scooter maker Ola Electric is likely to value the company at around $4.5 billion for its initial public offering, around 16%-20% lower than the valuation at its last funding round, two sources told Reuters. The Indian markets regulator in June approved Ola’s $660 million stock market listing, the first IPO by an EV maker in India and set …

Ola Electric may set valuation at around $4.5 billion for IPO: Report
8 months, 1 week ago

Ola Electric may set valuation at around $4.5 billion for IPO: Report

Hindustan Times  

Ola Electric is likely to value the company at around $4.5 billion for its upcoming initial public offering, it was reported. Ola Electric IPO: Ola Electric received official approval from market regulator Securities Exchange Board of India for its initial public offering. Earlier it was reported that Ola Electric received official approval from market regulator Securities Exchange Board of India …

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