Ola Electric, one of India’s foremost players in electric two-wheeler market has run into dry spell. The data given also show an overall reduction in the company’s market share over the course of the past trippling in three months from 39% in July to 27% of September. This is down from a high of 49 percent earlier this year.
There are many reasons which are responsible for this downfall, such as: customer dissatisfaction, technical glitches, and financial problems. However, attempts to manage loss have seen Ola Electric’s revenues decline with their stock price also plummeting as well. The IPO of the company was earlier launched at Rs 76 per share for which it has touched below Rs 100 now.
That is the reality that Ola Electric has to face as it means that the way forward is going to be a lot bumpy. They will have to reduce customer complaints, work on the reliability of their products and look for new means of generating more sales to reclaim its earlier status of being dominant firm.
