Ola Electric may have the largest market-share among all electric two-wheeler makers in the country but all has never been well for the Bengaluru-based company founded in 2017 ever since its first product hit Indian roads. Complaints about its sales and service quality have been numerous but while sales still rose - and the company went public in August of 2024, Ola Electric may be facing its toughest test yet. After a very public spat between CEO Bhavish Aggarwal and Kunal Kamra when the comedian tweeted the very serious matter of service quality on Sunday, Ola Electric stock price fell by as much as nine per cent in early Monday trading.

At the time of filing this report, Ola share price was at ₹89.55. This is the first time the share price fell below ₹90-per-share since its listing. It is, therefore, also the lowest level since the August 9 listing when it the price had risen by 20 per cent to ₹91.18. The share price had its peak of ₹157.40 by mid-August. But that peak has long gone out of sight.

Ola Electric may have the largest market share at 27 per cent in the electric-two-wheeler game. But it has seen this share slide for the past several months, opening the possibility of Bajaj Auto and TVS closing the gap and possibly edging past. While Ola Electric sales in September fell to 23,965 units from 40,814 units in July, Bajaj Auto increased its monthly sales from 17,655 units to 18,993 units in the same period.

What's eating Ola Electric's grapes?

Ola Electric has often been accused by many of its customers of offering shoddy products and even poorer service experience. While the company struggled with delivery timelines in the initial months post its first product - S1 - launch in 2021, the service network has been a persistent headache.

What's worse though is that many customers say the company either does not recognise or respond, or has no effective solutions for product and service-related complaints. Ola Electric began its journey with a direct-to-customer sales and service process but at present, is expanding the number of its brick and mortar experience and service centres. The company claims it will take its service network to 1,000 centres by December of 2024 from the current 570 service centres. It is also promising one-day service and cab coupons and backup scooters in case this promise is not fulfilled. Time will tell if these measures will work.

But what about Aggarwal? The Ola Electric CEO has an eccentric style of doing business and has a no-holds-barred approach on social-media platforms. His recent spat with Kamra is a example cited by his critics who say he is arrogant at best, incapable at worst. For someone who has highlighted that Ola Electric is the world's fourth-largest EV brand in the world - but excluding China, Aggarwal has the tendency to make big claims. And while a few of these have even had weight - Ola recently showcased its e-scooters amid much fanfare, it is the basics that many say he needs to focus on. And social media outbursts are unlikely to work either for him or the company he leads.

Read Also: Planning to buy Nissan Magnite facelift this festive season? Five other SUV options to consider

HOW DID YOU LIKE THIS ARTICLE? CHOOSE YOUR EMOTICON !