By hypersonik77 Ferrari roller-coaster would be put to shame at what’s transpired at Ola Electric since its IPO debut. Even this is an understatement.
Ola electric Mobility Ltd. had a muted debut on the stock exchange in early August. However, the company’s launch of its e-motorbike series, Ola Roadster, took care of that. The stock rallied 100% after the Roadster’s launch in mid-August. However, the enthusiasm was short-lived. The gravity of the rising consumer complaints about the company’s scooters pulled the stock price down 40% from its peak.
The recent spat between Ola founder Bhavish Aggarwal and comedian Kunal Kamra only added fuel to the fire. Consumers flocked to social media platform X expressing their concerns and anger around the lack of response from Ola service centers.