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Ola Shares Tumble as CEO Engages in Heated Exchange with Kunal Kamra

Rajeshwari R by Rajeshwari R
October 7, 2024
in Business
Reading Time: 3 mins read
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Ola Shares Tumble as CEO Engages in Heated Exchange with Kunal Kamra

Ola Shares Tumble as CEO Engages in Heated Exchange with Kunal Kamra

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Kunal Kamra and Ola Electric’s Bhavish Aggarwal Engage in Social Media Spat Over Scooter Service Issues

Hyderabad: Stand-up comedian Kunal Kamra found himself at the center of a heated exchange with Bhavish Aggarwal, founder of Ola Electric Mobility, on October 6, as they clashed over the servicing problems faced by the company’s electric scooters. The confrontation unfolded on social media platform X (formerly Twitter), drawing attention from both customers and investors, leading to a notable 9% dip in Ola Electric’s stock price, which fell to approximately ₹90 per share on Monday morning.

The dispute ignited when Kamra responded to Aggarwal’s post featuring Ola’s ‘gigafactory’ by sharing an image of multiple scooters seemingly waiting for service. He questioned whether Indian consumers had a voice, highlighting the significance of two-wheelers for many daily wage workers. Kamra tagged Union Road Transport Minister Nitin Gadkari and the Department of Consumer Affairs, seeking accountability regarding the service issues.

Aggarwal’s retort was sharp, challenging Kamra to assist in resolving the issues instead of criticizing the company. He remarked, “I’ll even pay more than you earned for this paid tweet or from your failed comedy career,” and assured that the company was rapidly expanding its service network to address customer complaints.

Kamra, unfazed, posted a video clip showcasing his successful comedy performance, calling Aggarwal “arrogant and substandard.” The exchange continued with Aggarwal mocking Kamra’s career, suggesting he visit an Ola service center for hands-on experience.

Kamra further challenged Aggarwal to offer refunds to customers who purchased Ola EVs in the last four months, emphasizing the need for accountability to those struggling to commute to work due to ongoing service issues. Many customers joined the conversation, voicing their grievances about Ola’s service quality, amplifying the negative sentiment around the company.

The public spat has not only drawn attention to the servicing troubles but has also underscored the company’s struggles in maintaining customer satisfaction. Ola Electric has been facing rising complaints—approximately 80,000 monthly—over hardware malfunctions and software glitches, further compounded by difficulties in sourcing spare parts.

As Ola Electric grapples with these challenges, industry analysts note that its stock has been on a downward trajectory, influenced by heightened competition and an inability to resolve service issues effectively. The company sold 24,665 e-scooters last month, down from 27,587 units in August, highlighting a troubling trend amidst customer dissatisfaction.

The incident serves as a stark reminder of the importance of customer service in the electric vehicle sector, as the industry continues to evolve and expand in India. As tensions between Kamra and Aggarwal illustrate, addressing consumer concerns will be critical for Ola Electric’s future success and market position.

Do indian consumers have a voice?
Do they deserve this?
Two wheelers are many daily wage workers lifeline…@nitin_gadkari is this how Indians will get to using EV’s? @jagograhakjago any word?
Anyone who has an issue with OLA electric leave your story below tagging all… https://t.co/G2zdIs15wh pic.twitter.com/EhJmAzhCmt

— Kunal Kamra (@kunalkamra88) October 6, 2024
Tags: Kunal KamraOla ElectricScooter

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