Ola Electric's Struggle: Can Consumer Confidence be Regained?

• Ola Electric's shares dropped by nearly 9% following a public spat on X (formerly Twitter) between CEO Bhavish Aggarwal and comedian Kunal Kamra.
• The company has been facing multiple issues including battery failures, software issues, and long repair delays.
• The Central Consumer Protection Authority (CCPA) issued a show-cause notice to Ola Electric for misleading advertisements and unfair trade practices.
• Ola's market share has plunged from almost 50% to 27% now.
• Despite the struggles, Ola Electric managed to sell nearly 7 lakh electric scooters in less than five years.

Source: Finshots