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Ola Electric shares slip 3% amid regulatory scrutiny over 'BOSS' sale discounts

Economic Times · 5m

Ola Electric Mobility, an electric vehicle manufacturer, has faced a 3% drop in its stock as it undergoes regulatory scrutiny from the Automotive Research Association of India (ARAI). The ARAI has raised concerns about Ola Electric's failure to inform them of a price reduction for its S1 X 2 kilowatt-hour model before launching its "BOSS" sale. This oversight may affect the model's eligibility for government subsidies and impact Ola Electric's position in the competitive EV market. Shares of Ola Electric have declined by 21.4% in the last month and 12% in the last 2 weeks.