Ola Electric shares slip 3% amid regulatory scrutiny over ‘BOSS’ sale discounts
Shares of electric vehicle (EV) manufacturer Ola Electric Mobility tumbled 3% in an intraday session to day’s low of Rs 87.34 on BSE as the company is facing regulatory scrutiny from the Automotive Research Association of India (ARAI) over its recent pricing strategies, according to a report by Business Standard.
The report states that the ARAI has raised concerns about Ola Electric’s failure to inform the agency of a price reduction for its S1 X 2 kilowatt-hour model before initiating its high-profile “BOSS” sale.
This oversight could jeopardize the model’s eligibility for government subsidies under the PM Electric DRIVE Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme, potentially affecting the company’s…
