Ola Electric Gets Govt Notice Over Missing Trade Certificates: Report

In a fresh trouble for Ola Electric, the transport ministry has reportedly hauled up the EV maker over missing trade certificates.

An NDTV report said that the Union Ministry of Road Transport and Highways issued a show cause notice to Ola Electric yesterday, asking it to disclose the strength of stores and service centres that are operational currently.

Besides, it also sought for the number of trade certificates obtained in the past three years, along with the date of issuance.

“You are hereby directed to furnish response to the aforementioned queries within seven days from the date of receipt of this letter, in order to avoid any adverse action,” the report said, citing the notice.

Inc42 has reached out to Ola Electric for comments on the development. The story will be updated based on the response.

The report highlighted that the ministry is keen to learn if the EV unicorn has unregistered vehicles stocked at its centres. Also, Ola Electric must provide model and variant-wise details of the 7,820 electric scooters that it recently claimed to have delivered in February.

As of 09:21 AM, shares of Ola Electric were down about 1% at INR 52.05 apiece on the BSE morning trade, compared to its previous close of INR 52.42 per share.

(The story will be updated soon.)

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