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Ola Electric shares fall 8% after CCPA issues notice over 10,000 user complaints

in.mashable.com — October 8, 2024 at 07:01 AM UTC

Ola Electric's shares dropped over 8% following a notice from the Central Consumer Protection Authority (CCPA). The CCPA received more than 10,000 complaints about service delays and other issues, prompting an investigation into potential consumer rights violations. The CCPA's notice, issued on October 3, requires Ola Electric to respond within 15 days. Complaints include service delays, refund issues, and problems with e-scooter components. The National Consumer Helpline reported 10,644 complaints from September 2023 to August 2024. Ola Electric acknowledged the notice but stated it would not impact its financial or operational activities. The company's stock has fallen 43% from its peak since its listing, reflecting growing customer dissatisfaction.

With a significance score of 3.7, this news ranks in the top 13% 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