India's consumer rights regulator issues notice to Ola Electric over complaints

India's Central Consumer Protection Authority has issued a notice to Ola Electric, citing potential violations of consumer rights. The company has 15 days to respond to allegations of misleading advertisements and unfair trade practices. Ola Electric's shares fell 9% on Monday, marking a significant decline since its IPO in August. The company faces increasing customer complaints, reportedly receiving over 80,000 monthly, amid concerns about service quality and product issues. HSBC analysts noted that Ola's service centers are overwhelmed and lack adequate investment to handle the volume of requests. They highlighted various product issues, including software and battery problems, contributing to customer dissatisfaction.