Diabytes
Ola Electric News
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Ola Electric Net Loss: In the last six months, the share price has fallen by more than half -- 51.25 per cent -- and over the past year, it is down 53.9 per cent.
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This decline has taken a toll on its market share, which has shrunk from 46 per cent in June 2024 to just 19 per cent now.
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The stock of Ola Electric Mobility plunged 5.5 per cent each to hit a 52-week low of Rs 53.71 per share on both BSE and NSE.
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Ola Electric Founder Bhavish Aggarwal had posted a video on his X handle on December 2 before 10 a.m, in which he shared his plan to increase the company's sales network by nearly four times by December 20
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Ola Electric Mobility Share: Anshul Khandelwal and Suvonil Chatterjee have been integral to Ola’s journey under Bhavish Aggarwal’s leadership. Suvonil Chatterjee joined Ola as Head of Design in 2017, while Anshul Khandelwal began in 2018 as Head of Marketing.
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The expansion spans beyond metros and Tier I and II cities into smaller towns and tehsils, Ola Electric said in a statement.
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The Bhavish Aggarwal-led electric vehicle (EV) company is trying to boost its operational efficiency by reducing redundancies and “drive profitability”, according to multiple reports. The restructuring exercise will impact employees from several departments, the reports added.
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The Central Consumer Protection Authority (CCPA) has also ordered a comprehensive probe into the EV company over its consumer complaint redressal practices.
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In October 2024, Ola Electric, a company facing difficulties regarding service and product quality, sold 41,605 units.
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Shares of Ola Electric opened with a decline on Tuesday. During the trading session so far, the stock made an all-time low of Rs 74.84.
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Ola Electric's shares were listed in August. After listing, a sharp rally was seen in the Ola Electric and the counter made an all-time high of Rs 157.40.
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Ola Electric’s recent stock plunge comes amid rising controversy involving CEO Bhavish Aggarwal and a social media dispute.
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Shares of Ola Electric Mobility fell more than 4 per cent on Monday and slipped below the Rs 100 mark for the first time since its listing last month.
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The electric vehicle (EV) company’s stock closed at 108.15 apiece, a drop of 2.56 per cent from its last trading session. The share is down more than 31 per cent from its recent all-time high of 157.40.
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Ola Electric’s shares have tumbled over 27 per cent from its record peak of Rs 157.53 a piece, leaving investors jittery amid profit booking and broader market volatility.
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A latest Jefferies report said that TVS and Bajaj have expanded their portfolios with more affordable electric two-wheelers.
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For Q1 FY25, the company posted adjusted gross margin of Rs 377 crore for the quarter ended June 30.
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Ola Electric also surpassed 2 lakh registrations in CY2024, becoming the first EV two-wheeler company to achieve the milestone within the first half of a calendar year.
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Ola Electric manufactures EVs and core EV components such as battery packs and motors at Ola Futurefactory -- manufacturing facility in Krishnagiri.
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The new pricing structure for the Ola S1 X, introduced in February this year, now ranges from Rs 69,999 to Rs 99,999
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