Ola Electric shares fall over 8%, Bhavish gets into heated argument on X.com

Ola Electric shares today:  shares of two-wheeler EV-maker Ola Electric Mobility fell as much as nearly 8 per cent on Monday, October 7 continuing dwindling spree of losing market value. shares of company have fallen over 20 per cent since last month after making a stellar debut in market. 

In or news, co-founder and CEO of Ola Electric Mobility Bhavish Aggarwal got into a brash and heated argument with a comedian on X.com (formerly Twitter) after being criticised for lack of equate service centres and no refunds to affected customers. 

As of 10:35 am on Monday, shares of company were tring at Rs 91.68 apiece with 7.37 points or 7.44 per cent downside. 

Ola Electric is actively promoting its S1 range of electric scooters amid a challenging phase. company recently recorded its lowest sales figures for 2024, selling 23,965 units in September, marking second consecutive month of decline. 

Since debuting on stock market two months ago, Ola's market share has been on a downward trend, dropping from over 50 per cent in April to 27 per cent in September. This marks five straight months of shrinking market share.

During same period, competitors TVS Motor and Bajaj Auto have been closing gap. TVS has gained market share for five consecutive months, now holding 20 per cent, while Bajaj has seen growth for three straight months, reaching a 21 per cent share.