Ola Electric’s stock surged over 4% to Rs 85.3 on October 22, following the announcement that it had resolved approximately 99.1% of the 10,644 complaints filed with the Central Consumer Protection Authority (CCPA). In a regulatory filing, the company highlighted its effective complaint resolution process, with CFO Harish Abichandani confirming that the issues were addressed to the customers’ complete satisfaction.
This news comes in light of the CCPA giving them a deadline of October 22. The agency issued a show-cause notice on October 7 with a 15-day response window for how Ola Electric would explain their side regarding the complaints.
This resolution further cements the strong festive season start for Ola Electric, with the company continuing in pole position in India’s two-wheeler EV market. Till October 14, data from the Vahan portal revealed over 15,672 vehicle registrations, with the company commanding a 34% market share.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
