Here's why Ola Electric share was down over 3% on October 10; reasons here

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Here's why Ola Electric share was down over 3% on October 10; reasons here - Business Standard

Quick Summary:

Ola Electric's share price declined following a request from the Ministry of Heavy Industries (MHI) to the ARAI for its assessment of the increasing number of consumer complaints against the company.

Ola Electric, an electric vehicle (EV) manufacturer, is focused on developing vertically integrated technology and manufacturing capabilities for EVs and their components, including battery cells.

It has certified Ola Electric’s vehicles under the government’s Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) and PM Electric Drive Vehicle (E-DRIVE) schemes.