Following the business’s response to recent media reports on their February 2025 sales data, Ola Electric Mobility shares jumped 6% to Rs 54.71 on the BSE today. The company denied charges of regulatory concerns and attributed the discrepancy to a temporary registration bottleneck. The business said in a statement issued on Friday that it is working to remove the backlog that resulted in disparities in vehicle registration data and that sales are still high. Ola claims that this backlog is being cleared up and that it was not brought on by any internal operational problems. The company’s daily registration numbers have now surpassed 50% of its typical daily revenues over the last three months. The EV manufacturer lead by Bhavish Aggarwal stated in a statement, “This is a simple case of a temporary registration backlog, yet certain media outlets and vested interests have purposefully misrepresented it as a regulatory issue through misinformation and smear campaigns.”
Ola claims that once the firm decided to sever ties with two national contractors who had previously managed its vehicle registration process, these reports became more intense. Previous media sources state that Ola Electric is currently under increased regulatory scrutiny due to the Ministry of Heavy Industries’ (MHI) concerns regarding disparities between the company’s stated sales numbers and the actual number of vehicle registrations that have been recorded.
According to the sources, MHI intends to send the business a second letter the following week asking for comprehensive details on its registration and sales numbers. In February, Ola Electric reported selling 25,000 vehicles, but only 8,600 of those sales were registered in the Vahan Portal, prompting authorities to question the mismatch. The Ministry had already sent a letter to the company earlier this year seeking clarification on the matter.