Ola Electric Share Price: EV Stock Rises 10% After Company Slams ‘False Narratives' on Sales Data

Shares of Ola Electric Mobility surged by 9.46% on Friday, reaching an intraday high of Rs. 56.55, after the company's clarification addressing concerns over discrepancies in its February 2025 sales data. The Bavish Agarwal-led company said the temporary registration backlog is due to ongoing negotiations with vendors responsible for vehicle registrations, assuring that the issue is being rapidly resolved.

In an official statement, Ola Electric emphasized that its sales remain robust: "We have noted the false narratives being spread about our February 2025 sales data. Here are the facts: Our sales remain strong, and the temporary backlog in February was due to ongoing negotiations with our vendors responsible for vehicle registrations. This backlog is being rapidly cleared, with daily registrations exceeding 50% of our three-month daily sales average. 40% of the February backlog has already been cleared, and the remaining will be fully resolved by the end of March 2025." Ola's exchange filing stated.

The clarification came after discrepancies were noted between the company's reported sales and official registration figures. While Ola Electric claimed sales of 25,000 units in February, data from the Ministry of Road Transport and Highways' Vahan portal indicated only 8,652 registrations. This prompted the Ministry of Heavy Industries to direct the Automotive Research Association of India (ARAI) to investigate the matter.

Ola Electric acknowledged receiving communications from both the Ministry of Heavy Industries and the Ministry of Road Transport and Highways regarding the sales-registration data mismatch and non-compliance with trade certificate requirements. The company stated it is in the process of responding to these queries.

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Ola Electric Mobility shares were trading at Rs.55.92 apiece at the time of writing, marking an intraday surge of 8.14%. Over the past 30 days, the stock has gained 11.11%, reflecting renewed investor interest. The EV stock has hit a 52-week high of Rs.157.40 on August 20, 2024, and a 52-week low of Rs.46.37 on March 18, 2025.

Despite these challenges, Ola Electric maintains its leadership position in the electric two-wheeler market, claiming a 28% market share in February 2025. As of March 21, Ola Electric Mobility's total market capitalization stands at Rs. 24,665.36 crore.

About Ola Electric

Ola Electric Mobility is a leading Indian electric vehicle (EV) manufacturer focused on revolutionizing the two-wheeler segment with sustainable and innovative mobility solutions. Founded as a subsidiary of Ola (ANI Technologies), the company is spearheaded by Bhavish Aggarwal and has rapidly emerged as a major player in India's EV market. The company launched its first electric scooter, the Ola S1, in 2021 and has since expanded its lineup with high-performance models, advanced battery technology, and a strong charging infrastructure. Ola Electric operates a state-of-the-art Future Factory in Tamil Nadu, touted as the world's largest two-wheeler EV manufacturing facility.