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Ola Electric faces scrutiny as consumer complaints rise and shares drop 8%

economictimes.indiatimes.com — October 8, 2024 at 03:01 AM UTC

Ola Electric received a show-cause notice from the Central Consumer Protection Authority due to rising consumer complaints, misleading advertisements, and unfair trade practices. The company has 15 days to respond to the notice. Following a public dispute between CEO Bhavish Aggarwal and comedian Kunal Kamra over service issues, Ola Electric's shares fell 8% to Rs 90.82. The exchange highlighted ongoing challenges in customer satisfaction for the electric vehicle company. Despite a 32% revenue increase to Rs 1,644 crore, Ola Electric's net loss grew to Rs 347 crore in Q1 FY25, indicating difficulties in the electric vehicle market. The company's shares have dropped 43% from their peak.

With a significance score of 3.9, this news ranks in the top 11% of today's 18111 analyzed articles.

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Timeline:

[3.1]

Ola Electric receives show cause notice from consumer authority over alleged rights violations (timesnownews.com)

156d 3h

[2.5]

Harsh Goenka faces backlash for supporting Ola Electric amid service complaints (in.mashable.com)

156d 5h

[1.8]

Harsh Goenka pokes fun at Ola CEO amid feud with comedian Kunal Kamra (livemint.com)

156d 6h

[2.3]

Kunal Kamra and OLA CEO Bhavish Aggarwal engage in heated Twitter exchange over consumer issues (firstpost.com)

156d 6h

[2.1]

Harsh Goenka adds humor to Ola CEO Bhavish Aggarwal and comedian Kunal Kamra's feud (economictimes.indiatimes.com)

156d 8h

[2.3]

Harsh Goenka comments on Bhavish Aggarwal and Kunal Kamra's online spat (hindustantimes.com)

156d 11h

[4.0]

Ola Electric receives notice for consumer rights violations but sees no operational impact (economictimes.indiatimes.com)

157d 2h

[3.6]

Ola Electric faces show-cause notice as customer complaints rise (timesofindia.indiatimes.com)

157d 4h

[3.9]

Ola Electric shares drop 6% after misleading ad notice from consumer authority (hindustantimes.com)

157d 4h

[3.1]

Ola Electric shares fall 6% as consumer protection notice raises concerns (timesnownews.com)

157d 5h

[3.7]

Ola Electric shares fall 8% after CCPA issues notice over 10,000 user complaints (in.mashable.com)

157d 5h

[3.0]

Ola Electric Mobility shares drop 6% following consumer rights notice (businesstoday.in)

157d 7h

[3.9]

Ola Electric faces scrutiny as consumer complaints rise and shares drop 8% (economictimes.indiatimes.com)

157d 9h

[3.5]

Consumer protection authority issues notice to Ola Electric over nearly 10000 complaints (livemint.com)

157d 11h

[2.7]

Ola CEO responds to comedian Kunal Kamra's criticism of electric scooter service on social media (timesofindia.indiatimes.com)

157d 22h

[2.0]

Ola CEO Bhavish Aggarwal and comedian Kunal Kamra clash on Twitter over electric scooter issues (hindustantimes.com)

158d 1h

[2.4]

Ola CEO responds to comedian Kunal Kamra's criticism of service quality (timesnownews.com)

158d 2h

[2.6]

Ola CEO faces backlash for harsh responses to comedian's criticism (livemint.com)

158d 3h

[2.8]

Ola CEO faces backlash after online clash with comedian Kunal Kamra (in.mashable.com)

158d 4h

[3.0]

Ola AI criticizes CEO's response to comedian over electric vehicle service issues (news18.com)

158d 8h

[2.3]

Zomato CEO Deepinder Goyal praised for positive public engagement as Ola's Bhavish Aggarwal faces criticism (hindustantimes.com)

158d 9h

[2.8]

Ola Electric CEO faces backlash for harsh remarks in spat with comedian Kunal Kamra (hindustantimes.com)

158d 10h