Shares of Ola Electric Mobility Ltd rallied 4% on 22 October after the company announced that it had resolved 99.1% of the 10,644 complaints received from the Central Consumer Protection Authority (CCPA).

In its regulatory filing, the company said, “Of the 10,644 complaints from the CCPA were resolved to the customer’s complete satisfaction,” emphasising its strong complaint resolution system. 

The announcement comes just ahead of the CCPA’s 22 October deadline. On 7 October, the agency issued a show-cause notice to the company, led by Bhavish Aggarwal, demanding an explanation for its handling of thousands of consumer complaints, providing the company with 15 days to respond.

The company started the festive season on a strong note, solidifying its position in the two-wheeler EV market. According to Vahan Portal data, the company registered over 15,672 units by 14 October, attaining a 34% market share.

The increase in market share is attributed to the strong performance of Ola’s S1 scooter lineup and its expanding service network. The company plans to maintain this momentum throughout the festive season leading up to Diwali.

Ola Electric’s S1 portfolio includes six models designed to meet the needs of a wide range of customers. The premium models, the S1 Pro and S1 Air are priced at Rs 1,34,999 and Rs 1,07,499, respectively, while the more budget-friendly S1 X series starts at Rs 74,999.

At 11:42 am, the shares of Ola Electric were trading 1.28% higher at Rs 82.70 on NSE. 

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