22 Oct , 2024 By : Debdeep Gupta
Shares of Ola Electric Mobility were off to a robust start on the bourses, rising over 4 percent to Rs 85.3 on October 22 after it announced that it has resolved nearly 99.1 percent of the 10,644 complaints received from the Central Consumer Protection Authority (CCPA).
In a stock exchange filing, the company emphasized its strong complaint resolution system, with CFO Harish Abichandani stating, "Of the 10,644 complaints from the CCPA were resolved to the customer’s complete satisfaction."
The announcement comes just ahead of the CCPA's October 22 deadline. On October 7, the agency issued a show-cause notice to the company, led by Bhavish Aggarwal, asking for an explanation on handling thousands of consumer complaints, giving them 15 days to respond.
Ola Electric, India’s leading pure-play electric vehicle manufacturer, began the festive season on a strong footing, solidifying its dominance in the two-wheeler EV market. According to Vahan portal data, the company registered over 15,672 vehicles by October 14, securing a 34 percent market share.
The rise in market share is driven by the success of Ola’s S1 scooter lineup and its expanding service network. The company aims to sustain this momentum through the remainder of the festive season, culminating in Diwali.
Ola Electric’s S1 portfolio features six models catering to a diverse range 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 S1 X series starts at Rs 74,999.
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