Ola Electric Delays Roadster X Deliveries Again, Shares Down Over 43%

New Delhi: Ola Electric has as soon as once more behind schedule the supply of its Roadster X bike, marking the second one such postponement in simply two months. In a inventory trade submitting, the corporate knowledgeable that deliveries would now start in May 2025. Earlier, the corporate had promised April because the supply month after lacking its preliminary mid-March goal.

The Bengaluru-based EV maker, led by way of billionaire Bhavish Aggarwal, had first introduced the Roadster X on February 5. However, reviews later printed that the car hadn’t even finished homologation — an very important regulatory procedure — simply two weeks earlier than the unique supply agenda.

On April 11, Ola Electric claimed that the primary batch of Roadster X motorcycles had rolled out from its Tamil Nadu manufacturing facility and that deliveries would quickly get started. But with May now being the brand new goal, shoppers are nonetheless looking forward to the product. Despite those delays, Ola Electric has already incorporated bookings for the Roadster X in its gross sales numbers.

According to a letter dated March 21, the corporate informed the Union Ministry of Road Transport and Highways that it added 1,395 bookings of the bike to its February gross sales knowledge, even if the cars weren’t but at the highway.

This transfer has drawn higher consideration from regulatory government. According to the reviews, India’s marketplace regulator, SEBI, is reportedly investigating Ola Electric for imaginable insider buying and selling and suspicious related-party transactions.

SEBI could also be mentioned to be having a look into buying and selling actions between October and December 2024, at the side of the gross sales knowledge mismatch and different monetary dealings.

In reaction, Ola Electric issued a explanation, thru a inventory trade submitting, mentioning that the trades referred to have been regimen transactions involving stocks got thru exercising those ESOPs and now not throughout the open marketplace acquire.

“The trades referred were routine transactions involving shares acquired through exercising these ESOPs and not through the open market purchase,” the corporate mentioned in its submitting.

On Friday, Ola Electric’s percentage value closed at Rs 48.59 at the Bombay Stock Exchange (BSE), down 0.27 in line with cent.

According to BSE knowledge, the stocks of the electrical two-wheeler maker have been down by way of over 41 in line with cent within the remaining six months.

On a year-to-date (YTD) foundation, the stocks had plunged by way of over 43.5 in line with cent. In the remaining 3 months, the stocks had dropped by way of 34.59 in line with cent.