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Ola Electric clears air on February sales controversy

Inshorts · 4m ago

Ola Electric clears air on February sales controversy

Ola Electric denied allegations of manipulating February sales data, stating only fully paid orders were counted, not token reservations. The discrepancy arose from vendor negotiations affecting vehicle registrations on the VAHAN portal. The Transport Ministry demanded clarification, warning of action if unresolved.

Related News

SEBI probes into Ola Electric's sales data amid complaints: Report

Inshorts · 3m ago

SEBI probes into Ola Electric's sales data amid complaints: Report

Market regulator SEBI is looking into the disclosures made by Ola Electric regarding its February sales data, CNBC-TV18 reported. The action is reportedly linked to the complaints about the disclosures. The electric scooter maker reported sales of more than 25,000 units in February, but a government portal reportedly showed only 8,600 registrations.

Bhavish Aggarwal announces launch of Ola electric bike, says ‘it is going to be much bigger than…’: Watch video | Mint

Livemint

Livemint · 6m ago

Bhavish Aggarwal announces launch of Ola electric bike, says ‘it is going to be much bigger than…’: Watch video | Mint

Bhavish Aggarwal announced the launch of Ola electric bikes, set for February 5, alongside a video and photos of the bike. Ola Electric has seen significant growth, reclaiming market leadership in electric two-wheelers with 22,656 registrations in January, driven by its S1 portfolio and an expanded sales and service network. Ola also launched eight new scooter models under the S1 brand, priced from ₹79,999 to ₹1,69,999, enhancing performance and reliability.

Ola Electric gets fresh notice over sales mismatch: Reports

Inshorts · 4m ago

Ola Electric gets fresh notice over sales mismatch: Reports

Ola Electric has reportedly received a fresh showcause notice from the Ministry of Road Transport and Highways over a mismatch in sales and registrations for February. As per reports, Ola sold 25,000 scooters, but only 8,652 of them were registered due to a dispute with vendors. The government has asked about registration data and sales figures for the month.

Ola Electric says February sales were based on paid orders, not bookings

Economic Times

Economic Times · 4m ago

Ola Electric says February sales were based on paid orders, not bookings

Ola Electric clarified that its February sales figures were based on paid and confirmed orders, not speculative bookings, following a Bloomberg report's claim of possible overstatement. Nearly 90% of February orders were fully paid, with new Gen 3 and Roadster X models available for full purchase. Ola attributed discrepancies to a registration transition affecting Vahan data. The company faces market share challenges and financial losses but anticipates positive EBITDA in the upcoming quarter.

Why Ola Electric's sales numbers do not hold up

CNBC

Why Ola Electric's sales numbers do not hold up

Ola Electric faced scrutiny for discrepancies between reported sales figures and government vehicle registrations, with only 8,600 registered compared to the claimed 25,000 sales in February. The company attributed this to a temporary registration backlog. Despite plans to resolve the issue by March's end, Ola Electric is losing market share to competitors like Ather Energy. The company’s stock fluctuated due to these issues and an insolvency petition against its subsidiary, reflecting broader market challenges.

Ola Electric in talks to cut costs on registration, VAHAN data to see temporary dip

YourStory

YourStory · 5m ago

Ola Electric in talks to cut costs on registration, VAHAN data to see temporary dip

Ola Electric is renegotiating contracts with two vehicle registration agencies, Rosmerta Digital Services and Shimnit India, aiming to reduce costs and improve process efficiencies. Consequently, registration numbers on the government's VAHAN portal will be temporarily affected in February 2025. Although this may impact registration figures, actual sales remain unaffected. Ola Electric operates a direct-to-consumer model through company-owned stores. Despite these challenges, it reported widening losses for the December quarter in FY25.

Government asks ARAI to probe Ola Electric's sales figure mismatch, consumer complaints

Economic Times

Economic Times · 4m ago

Government asks ARAI to probe Ola Electric's sales figure mismatch, consumer complaints

The Heavy Industries Ministry has tasked the Automotive Research Association of India (ARAI) with investigating discrepancies in Ola Electric's sales figures and consumer complaints. Ola Electric reported selling over 25,000 units in February, but Vahan portal registrations were only 8,652. ARAI will examine these discrepancies and consumer issues, submitting a report within 15 days. Ola Electric attributes the registration lag to agency negotiations and aims to resolve it by March. The company faces additional scrutiny and potential insolvency proceedings.

Ola Electric’s February sales included models that were not rolled out at the time

YourStory

YourStory · 4m ago

Ola Electric’s February sales included models that were not rolled out at the time

In February, Ola Electric included unreleased e-scooter models and the yet-to-launch Roadster X motorcycles in its sales figures, reporting 10,866 e-scooters and 1,395 bikes as part of 25,207 orders. The Ministry of Road Transportation and Highways asked for clarification on this discrepancy, as the Vahan portal showed only 8,390 units sold. Ola claims the figures are based on full payment from customers. Regulatory scrutiny followed due to these inconsistencies.

Ola Electric rolls out lower prices of S1 X range to challenge Ather’s Rizta

Thehindubusinessline

Thehindubusinessline · 1y ago

Ola Electric rolls out lower prices of S1 X range to challenge Ather’s Rizta

Ola Electric, the IPO-bound electric vehicle manufacturer, has reduced the prices of its S1 X portfolio scooter range by up to INR 10,000. The S1 X (2kWh) is now priced at INR 69,999, while the 3kWh and 4kWh variants will cost INR 84,999 and INR 99,999 respectively. The company has also announced revised prices for S1 Pro, S1 Air, and S1 X+ models. Ola Electric achieved its highest-ever monthly sales in March with 53,184 registrations. The company also offers an extended battery warranty and add-on warranty for its products. Additionally, it has introduced a portable fast charger accessory priced at INR 29,999. Ola Electric plans to establish an EV hub in Tamil Nadu.

Ola Electric registers 23,430 units in March, lagging far behind Bajaj and TVS

Entrackr

Entrackr · 4m ago

Ola Electric registers 23,430 units in March, lagging far behind Bajaj and TVS

Ola Electric registers 23,430 units in March, lagging far behind Bajaj and TVS Two-wheeler electric vehicle manufacturer Ola Electric registered 23,430 units in March 2025, according to data published by the VAHAN portal. However, Ola Electric lagged behind Bajaj Auto and TVS, which sold 34,863 and 30,453 units, respectively, during the same period. With its best-ever monthly sales of 34,863 units in March 2025, Bajaj Auto has topped the e2W industry for consecutive months. In March, Bajaj reported a 26.76% market share, followed by TVS and Ola Electric with 23.3% and 17.9% market share, respectively. However, Ola Electric led in terms of market share for the last fiscal year (FY25), reporting a 30% share, while TVS and Bajaj recorded 21% and 20%, respectively. In a stock exchange filing, Ola Electric reported that the shift to in-house vehicle registrations in February caused temporary disruptions. However, daily registration volumes and backlog clearance are steadily improving as the transition progresses. “We have nearly cleared the February backlog and expect to complete the remaining February–March registrations in April 2025. To support this, we’re scaling up our registration operations and actively coordinating with all external stakeholders,” said Ola Electric. Recently, Ola Electric clarified that the mismatch was due to ongoing negotiations with its vehicle registration vendors. The Bhavish Aggarwal-led company also settled a legal issue involving its subsidiary, Ola Electric Technologies Private Limited, and its vehicle registration service provider, Rosmerta Digital Services Ltd. Among the top five EV two-wheelers, Ather Energy is also catching up quickly, with 15,446 units sold in March, whereas Hero MotoCorp sold 7,977 units during the same period. Greaves, the next major player, sold 5,641 units in the same timeframe.

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