21st March 2025
In a regulatory filing to the Bombay Stock Exchange, Ola Electric confirmed that it has received inquiries from the Ministry of Heavy Industries (MHI) and the Ministry of Road Transport and Highways (MORTH) regarding a significant discrepancy in vehicle registrations.
Both ministries questioned the Bengaluru-based electric two-wheeler manufacturer about a nearly threefold registration shortfall, the company admitted. In February, Ola Electric reported selling 25,000 electric two-wheelers, but only 8,652 of those vehicles were registered, according to data from the VAHAN portal.
The company stated in a regulatory filing that the MORTH followed up with inquiries on March 18, 2025, after the MHI had submitted queries on March 11, 2025, expressing concerns expressed in media articles about non-compliance with Trade Certificate requirements. The queries also sought clarification on the significant discrepancy between vehicle registrations listed on the VAHAN portal and the sales figures in the company’s regulatory filing dated February 28, 2025.
In response, the company stated that it is currently addressing these inquiries.
Regarding notices received from various states concerning trade certificates, the company indicated that it has received notifications from four states related to trade certificates for some of its stores and is in the process of responding to these notices as well.
Ola Electric’s management has explained that the registration shortfall results from a temporary backlog, saying, “We continue to have strong sales, and the February delays were mostly caused by ongoing negotiations with our vendors who handle vehicle registrations. This backlog is being swiftly addressed, with daily registrations surpassing 50% of our average daily sales over the past three months. We have already cleared 40% of the February backlog, and we anticipate full resolution by the end of March 2025.”
Ola Electric has provided additional clarification regarding the registration shortfall, explaining that “this situation is merely a temporary backlog.” However, some media outlets and interested parties have intentionally mischaracterized it as a regulatory problem through misinformation and smear tactics. This misrepresentation escalated following our decision to terminate contracts with two national vendors responsible for our registration process, which was part of our initiative to enhance operational efficiency and increase profitability.
In the wake of this decision, there has been a concerted effort to sow confusion and provoke unwarranted scrutiny. Our primary objective remains to address the backlog effectively while continuing to deliver transparent and reliable service to our customers.” the company has said in the regulatory filing.
