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style="font-weight: 400;">On Friday, Ola Electric issued a statement assuring investors that its sales remain strong. The company explained that the backlog in vehicle registrations was an administrative issue rather than an operational or regulatory problem.
Key points from Ola’s statement:
- The backlog did not result from internal operational failures.
- Daily registration numbers have already surpassed 50% of the company’s three-month daily sales average.
- Forty percent of the February backlog has been cleared, with full resolution expected by the end of March 2025.
Ola Electric also criticized certain media outlets, alleging that they deliberately misrepresented the situation as a regulatory issue. The company described these reports as misinformation and part of a smear campaign.
Concerns Over Reported Sales vs. Registrations
Regulatory concerns surfaced following reports that the Ministry of Heavy Industries (MHI) was scrutinizing discrepancies between Ola Electric’s reported sales and actual vehicle registrations.
Key concerns raised:
- Ola Electric reported selling 25,000 vehicles in February, but only 8,600 of these sales were registered in the Vahan Portal.
- The Ministry of Heavy Industries had previously sought clarification from Ola Electric regarding this mismatch.
- A second letter from the ministry is expected next week, requesting further details on sales and registrations.
Vendor Transition and Registration Delays
Reports indicate that the situation intensified after Ola Electric decided to discontinue contracts with two nationwide vendors responsible for handling its vehicle registrations. This transition likely contributed to temporary registration delays, which some reports framed as a regulatory issue.
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Market Reaction and Future Outlook
Despite the speculation, Ola Electric remains confident in its business operations. The company expects the registration backlog to be fully resolved in the coming weeks and maintains that sales remain strong.
Key developments to watch:
- Full resolution of the backlog is expected by the end of March 2025.
- Ola Electric will provide further clarifications to address regulatory queries.
- The company is working on strengthening its registration process following the vendor transition.
Conclusion
Ola Electric has firmly denied any regulatory concerns, attributing the registration delays to a backlog that is already being cleared. While the Ministry of Heavy Industries continues its review, the company remains focused on maintaining sales momentum and ensuring smoother vehicle registrations moving forward.
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