Ola Electric vehicle registrations decline by 33 pc in November
After a blockbuster sales figure in October due to the festive season, Ola Electric vehicle registrations dropped by 33 per cent in November.
After a blockbuster sales figure in October due to the festive season, Ola Electric vehicle registrations dropped by 33 per cent in November.
As per reports, the regulator has taken cognisance of thousands of complaints against Ola Electric which are growing by the day.
Bhavish Aggarwal-run Ola Electric sold 22,950 electric two-wheelers in the month of September – about 17 per cent drop from last month when it got 27,586 e-scooters registered.
Ola Electric has announced the integration of its battery cells in its own vehicles, starting Q1 FY26.
The Bhavish Aggarwal-run company’s stock dropped 3 per cent to Rs 110 per share. It was, however, still up 45 per cent from its initial public offering (IPO) price of Rs 76 apiece.
The stock has nosedived 24.65 per cent from its all-time high value of Rs 157.53 apiece, a level reached on August 20.
IPO-bound company had applied for the PLI certification for S1 Pro in October and received the certification this week.
IPO-bound Ola Electric has reportedly become the first Indian e-scooter (e2W) company to get eligible for the government’s production-linked incentive (PLI) scheme.
Domestic markets are ending the year 2023 on a buoyant note as Nifty scales above 21,500 mark while Sensex crosses 71,000.
While FirstCry is likely to list only after the 2024 general elections, Ola Electric's management has already begun roadshows with both domestic and international investors.
