Ola Electric is making changes to its workforce, affecting about 500 employees. The goal is to cut unnecessary roles, improve profit margins, and ensure long-term growth. This comes after similar changes were made in 2022. The company plans to focus more on electric vehicles, reduce costs, and expand its products and reach.
Ola Electric is claiming they've resolved 99% of consumer complaints after a notice from the CCPA regarding over 10,000 complaints. They're looking to up their after-sales service and significantly expand their network by 2025.
Summary Ola Electric Mobility Ltd's stock saw a significant rise on August 19, hitting its upper circuit limit on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The stock price nearly doubled since its market debut, reaching Rs 146.03 per share on the BSE and Rs 146.38 per share on the NSE. This surge follows a strong performance on its listing day and a positive recommendation from global brokerage HSBC, which had set a target price of Rs…
Summary HSBC Global Research has initiated coverage on Ola Electric Mobility Ltd., assigning a 'buy' rating with a target price of Rs 140, which implies a 26.2% upside potential. The recommendation is based on Ola Electric's competitive pricing against petrol scooters and its promising battery venture. Despite current high production costs for electric scooters and potential challenges with battery manufacturing, HSBC believes that improvements in cost efficiency and growing consumer awareness will drive EV adoption. The report also notes increasing acceptance of…