Ola Electric Founder's Erratic Board Attendance Raises Eyebrows

As of August 19, 2025, Ola Electric, the electric vehicle startup founded by Bhavish Aggarwal, is facing scrutiny over its founder's poor attendance at board meetings. Aggarwal, who is also the managing director of Ola Electric, attended only 4 out of 17 board meetings last fiscal year, giving him an attendance rate of just 23.53%. This stands in stark contrast to the near-100% attendance of Aggarwal's peers at rival companies like Bajaj Auto, TVS Motor, and Hero MotorCorp.

Ola Electric's independent director Manoj Kohli acknowledged that the company has witnessed slower adoption rates in the EV industry, prompting operational realignments to transform the company into a sustainable enterprise. However, Aggarwal's absence from board meetings, including 2 out of 3 meetings to approve company earnings, has raised concerns among investors and governance experts.

The company's stock price has also faced significant pressure, declining by 74% from its peak and 45.7% from its opening price since its listing last year. Ola Electric has also lost its market leadership position, with rivals TVS Motor and Bajaj Auto overtaking the company, while newcomer Ather Energy has closed the gap in terms of market share.

Amid these challenges, Ola Electric has also faced scrutiny from government authorities, including investigations by the Central Consumer Protection Authority and issues with vehicle registrations and trade certificates. The company has claimed to resolve most of the customer complaints, but the ongoing issues have continued to impact its reputation and operations.