New Delhi, Nov 14 (IANS) In mounting trouble for Bhavish Aggarwal-led Ola Electric, the Central Consumer Protection Authority (CCPA) has now ordered a comprehensive probe into the EV company over its consumer complaint redressal practices.
As per sources, the consumer watchdog, led by Nidhi Khare, has asked the Director General (DG) of the Bureau of Indian Standards (BIS) to probe the matter. The BIS chief has been asked to submit the report within 15 days.
Last month, Ola Electric claimed that 99.1 per cent of the 10,644 complaints on the National Consumer Helpline (NCH) were resolved. The company was handed over a show-cause notice by the CCPA over alleged violations of consumer rights.
However, despite Ola Electric claiming that it has resolved 99.1 per cent of the 10,644 complaints regarding its poor after-sales service, the Department of Consumer Affairs critically examined the responses filed by the EV firm, and correlated each consumer complaint with the company’s claims.
Out of the total 10,644 complaints, 3,364 pertained to slow service and repairs and 1,899 were related to delayed deliveries of Ola’s electric scooters.
If Ola Electric’s claims fail to satisfy the regulator, it may face legal action and reportedly lose the subsidies its electric vehicles are eligible for under the PM Electric DRIVE Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme.
On social media platforms, complaints against Ola Electric continue to surge.
Meanwhile, Ola Electric’s share closed at Rs 70.12 apiece, down 56 per cent from its all-time high of Rs 157.40. The company reported a huge 43 per cent surge in net loss at Rs 495 crore in the July-September period (Q2 FY25), from Rs 347 crore in the previous quarter (Q1 FY25). The electric two-wheeler company also saw its revenue slump 26.1 per cent to Rs 1,214 crore (on-quarter) from Rs 1,644 crore in the first quarter of this fiscal. The net loss, however, narrowed on a year-on-year basis.
The company also saw its market share plunge to 33 per cent in Q2, down from 49 per cent in the previous quarter.
–IANS
na/vd
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