Ola Electric Gets Jolt, Market Share Declines to 18 Percent, TVS Motor, Bajaj Auto Gains

Sales of electric two-wheeler maker Ola Electric are decreasing. It is also third in this segment in January. According to the January 15 data of the vehicle portal, the company has sold around 6,655 units in the first fortnight of this month. This is equal to 18 percent market share.

Earlier in the beginning of the previous year, Ola Electric’s market share was more than 50 percent. A media Report According to, Bajaj Auto and TVS Motor have left behind Ola Electric in the segment. Both these companies jointly have a market share of 48 percent. The market share of Ather Energy has increased to 14.2 percent. Ola Electric is facing difficulty due to a large number of customers’ complaints about the shortcomings in the service. The Central Consumer Protection Authority (CCPA) has again sought information from the company about this.

Last month too, CCPA sent a letter to Ola Electric and sought this information. The Karnataka High Court had given a six -week deadline to the company to answer the previous letter of CCPA. Earlier, Ola Electric was warned by Market Regulator on violation of the rules related to disclosure. This warning was given due to the announcement of the stock exchange on social media before filing the stock exchange about the important information of Bhavish Aggarwal, the chief of the company.

The Securities and Exchange Board of India (SEBI) sent an email related to administrative warning to the company. Ola Electric also suffered a major setback from the Karnataka High Court. A notice issued by CCPA was refused by the High Court to dismiss. This notice was given as part of the investigation against the company. In this, additional documents were sought after more than 10,000 complaints of customers regarding electric scooters of Ola Electric. The High Court had said that this notice has been issued by a competent investigating officer and the company would have to provide documents sought. The CCPA had initially investigated a large number of complaints against Ola Electric. In this, violations of customers’ rights, misleading advertisements and deficiencies in service were found.