Now Transport Ministry Hauls Up Ola Electric On Trade Certificate Issue
India’s transport ministry tells Ola Electric to provide the number of stores and service centres currently operating and the number of trade certificates issued in the past three years.
India’s transport ministry has for the first time hauled up Ola Electric Mobility Ltd. over missing trade certificates, increasing the scrutiny on the beleaguered EV maker.
In a showcause notice issued on Thursday, the Union Ministry of Road Transport and Highways told Ola Electric to provide the number of stores and service centres it’s currently operating and the number of trade certificates obtained in the past three years, along with the date of issuance. The company also has to explain whether unregistered vehicles are being stocked at its centres.
Additionally, Ola Electric has to provide model and variant-wise details of the 7,820 electric scooters that it claimed to have delivered in February.
“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,” stated the showcause notice dated April 24. NDTV Profit has seen a copy of the letter.
On Thursday, Ola Electric shares fell 0.29% to Rs 52.42 apiece on the BSE even as the benchmark Sensex ended the day 0.39% lower at 79,801.43 points.
