Ola Electric receives notice for consumer rights violations but sees no operational impact

Ola Electric has received a show cause notice from the Central Consumer Protection Authority for alleged consumer rights violations, including misleading advertisements. The company has 15 days to respond but stated the notice does not affect its operations or finances. On Tuesday, Ola Electric's shares rose to Rs 92.01, reflecting a slight increase from the previous day's close. The company has faced rising customer complaints about after-sales service and product issues, contributing to a decline in its market share. Ola Electric's market capitalization has fallen below $5 billion for the first time since its listing. The company plans to double its service centers to 1,000 by December to improve after-sales support.