Ola Electric’s stock price fell today following a heated exchange on social media between the company’s CEO Bhavish Agarwal and stand-up comedian Kunal Kamra. Shares of Ola Electric Mobility Limited were trading at ₹90.25, down ₹8.80 or 8.88 per cent, on the NSE at 11:11 am today.
The controversy centered on customer service issues with Ola’s electric scooters and unfolded publicly on Platform X (formerly Twitter) over the weekend.
The controversy began when Kamra posted images of multiple Ola electric scooters apparently awaiting service and questioned the company’s after-sales support. He writes: “Do Indian consumers have a say? Do they deserve this? Two-wheelers are a lifeline for many daily wage workers…” Kamla said by Nitin Gadkari Road Transport and Highways in India He tagged the minister and asked, “Is this how Indians will get to use EVs?”
Mr. Agarwal retorted to Mr. Kamla: You’ll pay more than the money you made on this paid tweet or your failed comedy career. If not, sit back and focus on solving real customer problems. “We are rapidly expanding our service network and the backlog will be cleared soon,” he added.
Also read: Ola Electric plans to expand sales and service infrastructure to 10,000 stores by end of 2025
This led to further back and forth, with Mr. Kamra calling Mr. Agarwal “arrogant and substandard” and demanding a full refund to recent customers. Agarwal retorted: Dardhore? Aja service center. Bahut kum hai. I pay better money than you pay for your flop show. ”
The CEO later defended Ola’s service program, tweeting: “We have enough programs in place for customers to experience delays in service. Real you know that. Again, don’t try to get out of this. Don’t sit back and criticize. Instead, come and do the actual work.”
However, this public spat caught the attention of Ola Electric’s customers, many of whom chimed in with complaints about the company’s services. One user wrote: “When a so-called ‘unpopular comedian’ plays you, you end up fighting like a joker’s duck all morning. This means you have no right to do your job and provide quality service to your customers.” It just shows how passionate you are. This is going to boomerang on your business.”
Investors reacted negatively to the controversy, and Ola’s stock price fell significantly in today’s trading.
Also read: PM E-DRIVE goes on sale, but EV manufacturers complain that they can’t get any subsidies under the previous system
The electric vehicle market in India is highly competitive and customer service and after-sales support are key factors for success. The incident highlights potential weaknesses in Ola’s service network, which Agarwal acknowledged are still growing.
As India’s electric vehicle sector continues to grow, industry watchers will be watching to see how Ola Electric addresses these service issues and manages its public image going forward.
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Published October 7, 2024