The World Opinion

Tag: Ola

  • Ola Electric’s Stock May Trade Below Its Debut Price Of Rs 76, No Respite Seen | Economy News

    New Delhi: Facing a barrage of customer complaints amid poor after-sale service, Bhavish Aggarwal-run Ola Electric saw its stock plummet to a record low on Wednesday — below Rs 80 apiece in the morning trade — as market experts said the share may soon trade below its debut price of Rs 76.  

    At the end of the day, the stock closed marginally higher at Rs 81.76. During the session, the share touched Rs 79.15 on the lower side and Rs 83 on the higher side. The EV company’s stock has fallen about 48 per cent from its highest level of Rs 157.40.

    Ola Electric’s shares were listed in August. After listing, a sharp rally was seen in the Ola Electric and the counter made an all-time high of Rs 157.40. Jigar S Patel, Senior Manager- Technical Research Analyst, Anand Rathi Shares and Stock Brokers, said for Ola Electric, the support will be at Rs 76 and resistance at Rs 86. Market experts said that the strong support of Rs 86 has broken in Ola Electric and the next target is Rs 75 and the “trend in the counter continues to be negative”.

    The stock remains weak and selling is being seen at all levels. Due to the weakness, investors should stay away from this stock and invest in stocks with strong fundamentals, said market analysts. The reason for the fall in the shares of Ola Electric is the decline in sales and service-related problems.

    According to the government portal Vahan, Ola Electric sold 24,665 e-scooters in September. In August, this figure was 27,587. As per reports, Ola Electric’s flagship S1 series EV scooter has become a nightmare for hundreds of customers who are consistently facing issues like malfunctioning hardware and glitching software and spare parts are hard to come by, resulting in inordinate delays.

    Market analysts say that the share is showing extreme volatility due to challenges the company faces as well as rising competition and service-related issues.

  • ‘Comedian Ban Na Sake…’: Ola Founder Bhavish Aggarwal & Comedian Kunal Kamra Clash Over Service Quality Concerns | Economy News

    A heated exchange unfolded on social media between Ola founder Bhavish Agarwal and comedian Kunal Kamra over the service quality of Ola’s electric scooters. The conflict ignited when Agarwal shared a photo of Ola’s giga factory on X, prompting Kamra to reply with an image of multiple Ola Electric scooters lined up, apparently waiting for servicing.

    “Do Indian consumers have a voice? Do they deserve this? Two wheelers are many daily wage workers lifeline …,” Kamra wrote along with the photo.

    Do indian consumers have a voice?
    Do they deserve this?
    Two wheelers are many daily wage workers lifeline…@nitin_gadkari is this how Indians will get to using EV’s? @jagograhakjago any word?
    Anyone who has an issue with OLA electric leave your story below tagging all… https://t.co/G2zdIs15wh pic.twitter.com/EhJmAzhCmt
    — Kunal Kamra (@kunalkamra88) October 6, 2024

    He tagged Union Road Transport and Highways minister Nitin Gadkari, asking: “Is this how Indians will get to using EV’s?” The comedian also tagged the official handle of Department of Consumer Affairs, Government of India @jagograhakjago, seeking an answer saying “any word?” Kamra further wrote, “Anyone who has an issue with OLA electric leave your story below tagging all…”.

    To this Agarwal responded, “Since you care so much @kunalkamra88, come and help us out! I’ll even pay more than you earned for this paid tweet or from your failed comedy career. Or else sit quiet and let us focus on fixing the issues for the real customers.”He further said, “We’re expanding service network fast and backlogs will be cleared soon.” To the “failed comedy career” remark by Agarwal, Kamra responded by posting a video clip of one of his shows with audience clapping and cheering and called the Ola Electric founder and CMD “arrogant and substandard”.

    Since you care so much @kunalkamra88, come and help us out! I’ll even pay more than you earned for this paid tweet or from your failed comedy career.

    Or else sit quiet and let us focus on fixing the issues for the real customers. We’re expanding service network fast and backlogs… https://t.co/ZQ4nmqjx5q
    — Bhavish Aggarwal (@bhash) October 6, 2024

    In response, Agarwal said,”Chot lagi? Dard hua? Aaja service center. Bahut kaam Hai. (Did it hurt. It’s very less. Come to service center). I will pay better than your flop shows pay you.” Kamra then challenged Agarwal to “give a total refund to anyone who wants to return their OLA EV & who’s purchased it in the last four months”, saying he doesn’t need his money but “people not being able to get to their workplace need your accountability”.

    “Show your customers that you truly care,” Kamra asserted

    Instead can you give a total refund to anyone who wants to return their OLA EV & who’s purchased it in the last 4 months?

    I don’t need your money people not being able to get to their workplace need your accountability.

    Show your customers that you truly care? https://t.co/tI2dwZT2n2
    — Kunal Kamra (@kunalkamra88) October 6, 2024

    Agarwal hit back saying, “We have enough programs for our customers if they face service delays. If you were a genuine one, you would have known. Again, don’t try and back out of this. Come and do some real work rather than armchair criticism.”

    We have enough programs for our customers if they face service delays. If you were a genuine one, you would have known.

    Again, don’t try and back out of this. Come and do some real work rather than armchair criticism. https://t.co/HFFKgsl7d9
    — Bhavish Aggarwal (@bhash) October 6, 2024

    Ola founder Bhavish Agarwal escalated the online exchange with comedian Kunal Kamra, responding sharply with, “Comedian ban na sake, chaudhary banne chale.” He further challenged Kamra, advising him to “do better research” and extended an open offer to visit Ola’s service center, adding, “Take up the challenge. Maybe you’ll learn some real skills for a change.” (With PTI Inputs)

    Comedian ban na sake, chaudhary banne chale.

    Do your research better next time. And the offer to come and help us out in our service center remains open. Take up the challenge. Maybe you’ll learn some real skills for a change. https://t.co/4KekvB5Qbu
    — Bhavish Aggarwal (@bhash) October 6, 2024

  • Netizens Slam Ola’s Bhavish Over Poor E-scooter Quality As He Shows Battery Cell To Union Minister Vaishnaw | Economy News

    New Delhi: As Bhavish Aggarwal met Union Railways and Electronics and IT Minister, Ashwini Vaishnaw, on Thursday to show an indigenously-made lithium battery cell, netizens slammed Ola Electric scooters’ quality, saying these EV cells “need to be tested according to international standards”. Ola Electric has announced the integration of its battery cells in its own vehicles, starting Q1 FY26.

    An X user posted that “our business needs to be quality-wise accurate globally”. “Working on different businesses at once without looking at quality concerns will affect Ola’s footprint in the domestic market. Specifically talking about Ola two-wheelers. He (Bhavish) should take it seriously,” he posted.

    Another EV user posted on X: “I am using an e-vehicle scooter and its battery is deteriorating in a year’s use.” “Indian products should establish a benchmark so that people around the world find made in India products trustworthy,” he said.

    The Ola Electric cell is currently under trial production at its Gigafactory. The company recently showcased the indigenously developed Bharat 4680 cell and battery pack. The cell claims to have a wider operating window (10-700C), a longer life with more than 1,000 charge cycles, and better fast-charging capabilities.

    Meanwhile, another X user posted that our nomenclature of almost everything seems too self-obsessed or hyper-nationalist. “Ever heard about China cell or Tesla’s America cell? It frankly shows that one considers to have over-achieved something, and it’s not a usual part of a country’s technological prowess,” the user commented.

    Recently, after the shocking Ola Electric showroom fire incident in Karnataka, the company’s social media platforms were flooded with complaints about its EV scooters, as several customers raised serious concerns about product quality and service. Ola Electric users had complaints ranging from faulty software, bad service quality and poor response from the company when raised.

    As per the latest reports, Ola Electric receives around 80,000 complaints monthly, overwhelming its service centres. On peak days, complaints rise to 6,000-7,000, resulting in long wait times, overburdened staff and growing customer dissatisfaction.

  • Ola Cabs CFO Karthik Gupta Resigns After Seven Months Into Role | Companies News

    New Delhi: Ride-hailing platform Ola Cabs has witnessed another top-level exit as the Chief Financial Officer (CFO) of ANI Technologies (the parent firm) Karthik Gupta has stepped down seven months after taking charge. Gupta’s exit comes two weeks after the company’s CEO Hemant Bakshi quit.

    According to the company, Gupta’s departure is part of an “ongoing restructuring” process. “As part of an ongoing restructuring, Ola Mobility CFO Karthik Gupta has stepped down from the company. This restructuring is aimed at productivity enhancement in an AI-led era that is redefining the cab-hailing industry globally,” an Ola spokesperson told IANS. (Also Read: Microsoft Asks 700-800 Employees In China To Relocate Amid US-China Tensions)

    The spokesperson also said that the restructuring process will allow Ola to “strengthen cost structures, focus on growth and increase its bottom line”. According to his LinkedIn profile, Gupta joined Ola Cabs seven months ago and was in charge of financial strategy, growth, regulatory compliance, tax, treasury, and investor relations. He spent over 17 years as Procter & Gamble’s Vice President and regional CFO for Asia Pacific, the Middle East, and Africa before joining Ola. (Also Read: PhonePe Users Can Now Make Payments Through UPI In Sri Lanka; Collaborates With LankaPay)

    Last month, the ride-hailing platform announced job cuts. Ola founder Bhavish Aggarwal addressed staff in a letter about a restructuring exercise to improve profitability and prepare for future growth. The restructuring process will reportedly affect at least 10 per cent of the company’s workforce. Meanwhile, the company has appointed Ola founder’s brother Ankush Aggarwal as the Chief Executive Officer of Ola Financial Services.

  • Delhi Man Accuses Ola Driver Of Slapping In Front Of 6-Year Son: Check His LinkedIn Post | Companies News

    New Delhi: In today’s world, there are many incidents of cab booking difficulties you may have encountered. Some of them instances are late pickups, drivers demanding cash payments, and other inconveniences. These situations have become familiar grievances for users of online ride-hailing apps.

    However, a recent incident involving a Delhi man named Kiran Verma has shocked many, as he accused an Ola driver of assaulting him in front of his 6-year-old son. (Also Read: Bill Gates & Mark Zuckerberg In Indian Wedding Attire: Check How These Mogul Looks In Traditional Outfit)

    What He Alleged In LinkedIn Post?

    According to Verma’s account in a LinkedIn post, the incident occurred last month when he and his son booked an Ola cab to pick someone up from the airport. (Also Read: 7 Fresh IPOs Set To Hit Market This Week: Check A-Z Of Upcoming Offerings)

    Verma claimed that the driver requested him to cancel the ride and pay in cash, which he refused. This refusal led to a confrontation between Verma and the driver.

    Verma detailed in his post, “The driver asked me to cancel the ride and pay him in cash. I denied and with unwanting will, he started the trip.”

    He further stated that the driver took an alternate route from their destination, citing traffic congestion. Verma alleged that the driver then demanded additional payment, escalating the situation.

    What Happened At The Moment?

    Verma recounted that his son, frightened by the escalating tension, urged him to leave the car. Concerned for his son’s safety, Verma contacted both the Ola helpline and the police.

    As Verma and his son exited the vehicle, the situation took a violent turn when the driver allegedly slapped him.

    Describing the incident, Verma stated, “Meanwhile, when I refused to pay him, I clicked his picture with my bag. He came out and slapped me.” Verma emphasized that he did not resort to using abusive language during his communication with the Ola representative.

    LinkedIn Post Goes Viral

    Verma’s LinkedIn post garnered significant attention, with many social media users expressing concern and solidarity with his experience.

    Some users shared their own encounters with similar ordeals, highlighting broader safety concerns associated with online ride-hailing services.

  • Bhavish Aggarwal Visits Hindu Mandir In Abu Dhabi, Shares Pics; Says ‘India Will Rise As A Vishwaguru’ | Companies News

    New Delhi: Bhavish Aggarwal, the founder and CEO of Ola, recently shared pictures from his visit to the renowned Hindu Temple in the United Arab Emirates (UAE). Aggarwal captured moments from the grand celebration at the Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha (BAPS) temple, fondly referred to as the “Lotus of the Desert”.

    Celebrating Spirituality

    Describing the temple as a “true symbol of spirituality”, Aggarwal expressed his humility and honor at being part of the festivities. (Also Read: Nothing CEO Carl Pie Became ‘Carl Bhai’ In Twitter Bio, But Why So?)

    Visiting and speaking at the @BAPS Hindu Mandir in Abu Dhabi was a life memory for me.

    It is such a historic moment of two civilisations coming together and thankful to be there to witness it pic.twitter.com/rfHh8x4eJ3
    — Bhavish Aggarwal (@bhash) February 18, 2024

    He highlighted the temple’s significance as a beacon of peace and harmony, reflecting on India’s ancient traditions that emphasize oneness with the universe and divine presence in all aspects of life. (Also Read: Google Offers 300% Salary Hike To Retain Employee; Read More)

    Attire And Interactions

    During his visit, Aggarwal donned traditional attire and posed in front of the temple, capturing the essence of the spiritual ambiance. He also had the opportunity to interact with the temple priests, further immersing himself in the spiritual experience.

    Humbled and honoured to be a part of the grand celebration at the Lotus of the Desert, the @BAPS Hindu Temple in Abu Dhabi. It is a true symbol of spirituality and universal ethos of peace and harmony.

    Our ancient Indian traditions have always understood that you do not just… pic.twitter.com/ZmZYOo5or6


    — Bhavish Aggarwal (@bhash) February 17, 2024

    Vision for India and World Harmony

    In his reflections, Aggarwal expressed confidence in India’s potential to emerge as a global leader in promoting inclusivity and harmonious development.

    He underscored the importance of young Indians embracing their dharma (duty) to contribute to a world marked by unity and cooperation.

    Historic Moment

    Aggarwal also shared his appreciation for speaking at the BAPS Hindu Mandir, describing it as a significant moment of cultural exchange and historical significance.

    The temple, inaugurated by Prime Minister Narendra Modi on February 15, represents a milestone in the harmonious coexistence of different civilizations.

    About BAPS Mandir

    The BAPS Mandir stands as the first traditional Hindu stone temple in the UAE, occupying a sprawling 27-acre area in Abu Dhabi’s Abu Mureikhah district.

    Its inauguration ceremony, celebrated as the “Festival of Harmony”, marks a momentous occasion in promoting cultural understanding and spiritual unity.

  • IPO-Bound Ola Electric Gets Certification For 2nd e-scooter Under Govt's PLI Scheme

    The company’s Ola S1 Pro and Ola S1 Air are now eligible for subsidies under the government’s auto PLI scheme for five years from the date of certification,  as per sources.