Ola Electric faces show-cause notice as customer complaints rise

Ola Electric is facing increased challenges, including a show-cause notice from the Central Consumer Protection Authority due to a rise in customer complaints. The company has 15 days to respond to issues related to service inefficiencies and manufacturing defects. Sales have declined significantly, dropping from over 40,000 units in July to about 24,000 in September. Ola Electric's market share has fallen to approximately 27 percent, and its stock price has decreased by 42-43 percent from its peak. In response to customer concerns, Ola Electric plans to expand its service network to 1,000 outlets by the end of the year. The company is under pressure as competition in the electric vehicle market intensifies.