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Ola Electric raided over violations, 60 scooters seized

Ola Electric is facing scrutiny after regional transport officials conducted raids at its stores in Madhya Pradesh and Maharashtra.

These raids, which occurred a few days ago, resulted in the impounding of 60 electric scooters, according to local authorities.

The actions stem from allegations that Ola Electric was operating showrooms, service centers, and stores in Maharashtra without the necessary trade certificates.

Additionally, the Ministry of Heavy Industries (MHI) is investigating discrepancies in the company’s reported sales figures.

While Ola Electric claimed to have sold 25,000 electric vehicles in February, data from the VAHAN portal shows only 8,600 vehicle registrations.

Recent Ola Electric developments

Timeline
17-Mar-2025 ⚖️ Ola Electric shares hit record low after insolvency petition
  • Ola Electric shares drop 3.9% amid insolvency news
  • Rosmerta files petition over unpaid obligations
17-Mar-2025 ⚖️ Ola Electric faces insolvency petition over payment dispute
  • Rosmerta petitions NCLT for Ola Electric’s insolvency.
  • Ola disputes claims, plans to contest the petition.
13-Mar-2025 💰 Ola Electric cuts costs by $10.3m per month
  • Ola Electric cuts cash burn by ₹90 crore monthly.
  • Cost-cutting includes closing regional warehouses.
12-Mar-2025 📉 Ola Electric shares drop 4.4%, reaches record low
  • Ola Electric shares hit record low of $0.58.
  • Stock down 30% since IPO in August 2024.
03-Mar-2025 📉 Ola Electric to cut over 1,000 jobs

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