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Ola Electric stores see raids, seizures on flouting India rules

Economic Times · 24d

Ola Electric is facing regulatory challenges amid its aggressive expansion into 4,000 physical showrooms since 2022. Over 95% of these lack necessary trade certificates mandated by India's Motor Vehicles Act. This non-compliance has led to raids, vehicle seizures, and show-cause notices. Meanwhile, Ola battles multiple crises, including a significant drop in shares, customer complaints, layoffs, and delayed product launches. Despite these challenges, Ola aims to achieve financial turnaround by increasing monthly sales.