Shares of Ola Electric Mobility made a strong debut on the stock market and rose 4 per cent to Rs 85.3 on October 22. This after the company announced that it has resolved about 99.1 percent of the 10,644 complaints received from the Central Consumer Protection Authority (CCPA).
In a document filed with the stock exchange, the company highlighted its robust complaint redressal system, with CFO Harish Abichandani saying, “10,644 complaints received from CCPA were resolved to the complete satisfaction of the customers.”
The announcement comes just ahead of the CCPA’s October 22 deadline. On October 7, the agency issued a show-cause notice to the Bhavish Aggarwal-led company, seeking clarifications on its handling of thousands of consumer complaints, and gave it 15 days to respond.
India’s leading electric vehicle manufacturer Ola Electric has started the festive season on a strong note and strengthened its dominance in the two-wheeler EV market. According to data from the Vahan portal, the company registered over 15,672 vehicles till October 14 and captured 34 per cent market share.
This increase in market share is due to the success of Ola’s S1 scooter lineup and its expanded service network. The company aims to maintain this momentum in the remaining festive season till Diwali.
Ola Electric’s S1 portfolio consists of six models that target different categories of customers. The premium S1 Pro and S1 Air are priced at Rs 1,34,999 and Rs 1,07,499 respectively, while the more affordable S1X series starts at Rs 74,999.
Ola Electric shares rise 4%, 99% customer complaints resolved before deadline
