The company's MD had disclosed expansion plans on social media before information on stock exchanges
The fall in Ola Electric share price came after the markets regulator Securities and Exchange Board of India (Sebi) issued an administrative warning letter over disclosure violations
According to the letter issued by Sebi, the electric vehicle manufacturer announced its expansion plans on microblogging platform X (formerly Twitter), before informing the exchanges
Shares of Ola Electric Mobility fell 4.61 per cent at Rs 85.93 a piece on the BSE in Monday's intraday trade
According to the sources, the executives leaving the firm are part of the restructuring efforts at Bhavish Aggarwal-led electric vehicle maker
The rally in Ola Electric share price came after the company announced that it has expanded its network to 4,000 stores nationwide, registering a four-fold increase from the existing network
The electric vehicle company said it is committed to driving large-scale EV adoption enabling deeper penetration beyond tier-1 and tier-2 cities to almost every town and tehsil across India
Ola Electric grows its network to 4,000 showrooms and service centres following consumer complaints and social media backlash on product quality and after-sales service
Ola Electric on Thursday said it will expand its sales and service network to about 4,000 outlets on December 25. With over 3,200 new stores complementing its existing footprint, the Bengaluru-based firm is bringing its portfolio of electric vehicles (EVs) closer to consumers across metros, Tier-2, and Tier-3 towns, Ola Electric said in a statement. The company has launched #SavingsWalaScooter campaign, an initiative to bring EVs closer to every Indian household, it added. Co-located with service facilities, these stores will ensure customers receive sales and after-sales support, it added. "By leveraging its direct-to-consumer (D2C) model, Ola is ensuring that EV ownership becomes a reality for every household, breaking barriers to adoption and offering relief from rising petrol prices and high cost of ownership of ICE vehicles," the company said. Ola has recently expanded its product portfolio with the launch of Gig and S1 Z scooter ranges. With introductory prices starting at
The CCPA has provided a timeline of 15 days for the company to submit the response in respect of seeking additional documents and information
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As passenger vehicle retail sales slowed in November, companies are anticipated to maintain high discount levels to attract buyers
Currently, Ola operates around 800 stores and with the new additions, the number of outlets, which will also function as service centres, will reach 4,000
Taking the Electric revolution to the next level this month. Going from 800 stores right now to 4000 stores this month itself
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Overall sales cross 1 lakh-mark; Ola Electric has a thin lead over its rivals, accounting for 25.09 per cent share of the total registrations, followed by TVS and Bajaj
But he faces questions over sustainability and a new challenge from Honda
Shares of the company ended at Rs 88.2, extending its two-day advance to 27 per cent. Initiating coverage on the stock, Citi set a target price of Rs 90
Paras Defence, Ravindra Energy, Zaggle Prepaid Ocean Services, Oriental Rail Infrastructure, Puravankara and Veritas (India) from the BSE Smallcap index have locked in upper circuit.
The new scooters offer durable, reliable, affordable, and flexible solutions, including removable batteries, fulfilling personal and commercial use cases of rural, semi-urban, and urban customers