Ola Electric Mobility’s shares surged over 4% to Rs 85.3 on October 22, following the company’s announcement that it has addressed nearly 99.1% of the 10,644 complaints received from the Central Consumer Protection Authority (CCPA). This update comes right before the CCPA’s deadline on the same day. Currently it is trading at ₹82.59 apiece.
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On October 7, the CCPA had issued a show-cause notice to Ola Electric, which is led by Bhavish Aggarwal, seeking an explanation for how the company managed the numerous consumer complaints. The agency allowed a 15-day window for the company to respond to these concerns.
As India’s leading electric vehicle manufacturer, Ola Electric kicked off the festive season with significant momentum, further establishing its stronghold in the two-wheeler EV market. By October 14, the company reported sales of over 15,672 vehicles, capturing a 34% market share.
The rise in market share has been attributed to the success of Ola’s S1 scooter lineup and the expansion of its service network. The company plans to maintain this upward trajectory throughout the festive season, culminating in the Diwali celebrations.
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Ola Electric’s S1 portfolio includes six models designed for a wide range of customers. The premium S1 Pro and S1 Air are priced at Rs 1,34,999 and Rs 1,07,499, respectively, while the more budget-friendly S1 X series starts at Rs 74,999.
