Ola Electric received a show cause notice from the CCPA for alleged consumer rights violations, misleading ads, and unfair trade practices.
Although the notice doesn’t currently impact the company’s operations or finances and doesn’t include penalties, Ola plans to respond within 15 days.
Following the notice, Ola’s stock dropped by 6.18% to ₹85.21, marking a 46% decline from its August high of ₹157.53.
Bajaj Auto is also catching up quickly, grabbing over 21% of the market with strong sales.
The company is dealing with over 10,000 complaints about its e-scooter services and a public spat between CEO Bhavish Aggarwal and comedian Kunal Kamra over service quality on social media.
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