Ola Electric Mobility Limited — Important, 21-03-2025: General Updates

Ola Electric Mobility Limited has issued a media statement addressing false narratives regarding their February 2025 sales data. The company clarified that recent sales figures were impacted by a temporary backlog in vehicle registrations due to ongoing negotiations with vendors. Currently, over 50% of daily registrations are being processed, with 40% of the backlog resolved and full clearance expected by the end of March 2025. This situation arose after Ola ended contracts with two vendors, leading to misinformation campaigns. The company is focused on efficiently resolving the backlog while maintaining operational transparency. Investors may view this as a positive outlook, given the quick resolution and ongoing sales strength.