Why are Ola Electric shares at an all-time low?

Ola Electric shares have hit an all-time low due to a major service reboot initiative aimed at addressing after-sales backlogs.

What is Ola Electric's Hyperservice initiative?

The Hyperservice initiative is Ola Electric's program to transform electric two-wheeler servicing, focusing on clearing backlogs and improving parts availability.

How is Ola Electric addressing service issues?

Ola Electric has deployed a taskforce led by senior management to clear pending repairs, improve spare parts availability, and reduce customer wait times.

Home / Business and Economy / Ola Electric Shares Plummet Amid Service Overhaul

Ola Electric Shares Plummet Amid Service Overhaul

5 Dec

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Summary

Ola Electric shares dropped to an all-time low.
A major service initiative is underway to fix after-sales issues.
Internal targets aim to drastically cut customer wait times.

Ola Electric Shares Plummet Amid Service Overhaul

Ola Electric Mobility Ltd. has seen its shares reach an unprecedented low, coinciding with the company's launch of a comprehensive service reboot designed to tackle existing after-sales backlogs. This strategic move comes as the company navigates the challenges of a rapidly expanding electric scooter base.

A specialized taskforce, comprising technicians and operational experts, has been mobilized under the direct leadership of the core management team. Their immediate objective is to expedite pending repairs and ensure a more consistent supply of spare parts across all service centers.

The company's founder, Bhavish Aggarwal, has reportedly been actively involved on the ground, reinforcing the urgency of these efforts. With internal benchmarks set to significantly shorten customer wait times, Ola Electric is strategically rebuilding trust and aiming to solidify its competitive standing within India's dynamic electric vehicle sector.