Shares of Ola Electric Mobility Ltd surged 4.33% to ₹53.95 in early trade today following the company’s response to concerns about its February 2025 sales data. Ola Electric clarified that reports of a decline in sales were misleading, attributing the temporary backlog in vehicle registrations to ongoing negotiations with vendors handling registrations.
In a filing with the NSE and BSE, Ola Electric stated that its backlog is being rapidly cleared, with daily registrations exceeding 50% of its three-month daily sales average. The company further assured investors that 40% of the February backlog had already been cleared, and the remaining backlog will be resolved by the end of March 2025.
Ola Electric also refuted claims of regulatory scrutiny, clarifying that it had received routine information requests from the Ministry of Heavy Industries, the Ministry of Road Transport and Highways of India (MORTH), and four state authorities. The company maintained that there were no ongoing regulatory or legal proceedings against it and that it is in the process of responding to all queries.
The controversy arose due to discrepancies between Vahan data and Ola Electric’s reported sales figures. According to Nomura, Vahan data indicated that Ola Electric sold 8,600 units in February, with its market share dropping to 11.4% from 25% in January 2025. However, Ola Electric reported sales of 25,000 units, claiming its market share stood at 28%.
Meanwhile, Ola Electric has recently entered the EV motorcycle segment, unveiling its Roadster X series. The company introduced multiple variants, with the Roadster X priced at ₹74,999, the Roadster X+ 4.5kWh at ₹1,04,999, and the Roadster X+ 9.1kWh (featuring 4680 Bharat Cell technology) at ₹1,54,999. The top-end model offers an impressive 501 km range per charge, bolstering the company’s push into the electric two-wheeler space.
With a market capitalization of ₹224.37 billion, Ola Electric remains one of the key players in India’s EV market, and today’s stock movement reflects investor confidence in the company’s long-term growth prospects despite recent concerns.