While the total number of registrations by Ola Electric on the Vahan portal for February stood at 8,652, the company had reported sales of more than 25,000 units during February 2025. File
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Ola Electric’s two-year low February sales data is due to temporary registration backlog, negating any other “false narratives,” according to an exchange filing.
“This is a straightforward case of a temporary registration backlog,” the filing read. “This backlog is being rapidly cleared, with daily registrations exceeding 50% of our three-month daily sales average. 40% of the February backlog has already been cleared, and the remaining will be fully resolved by the end of March 2025,” the filing added.
The company said that “false narratives” intensified after the the discontinuation of contracts with two vendors.
According to a FADA report, which showed data from Vaahan portal, Ola electric had a retail sale of 8,647 units in February 2025, just about a fourth of what it was in the same month in FY24.
The company further said, “Our focus remains on resolving the backlog efficiently and continuing to serve our customers with transparency and reliability.” Last week, Ola Electric Mobility had said its vehicle registration service provider Rosmerta Digital Services had sought initiation of insolvency proceedings against its wholly-owned arm Ola Electric Technologies.
Rosmerta Digital Services had submitted a petition before the National Company Law Tribunal, Bengaluru Bench, alleging default in payment towards the services rendered by the operational creditor and seeking initiation of the corporate insolvency resolution process (CIRP) Ola Electric Technologies Private Limited.
In February, Ola Electric Mobility had stated that it was renegotiating the terms of agreement with its agencies, Rosmerta Digital Services Private Limited and Shimnit India Private Limited to reduce cost and enhance registration process efficiencies. The company had stated that it would have a temporary impact on its Vahan registration.
Ola Electric Mobility Limited said Ministries of Heavy Industries, and Road Transport and Highways have sought information from the company over gap in vehicle registrations as per the Vahan portal and sales as per the firm’s regulatory filing.
The Ministries have also sought clarification on reports “regarding non-compliance to the requirement of trade certificates,” Ola Electric Mobility said in a regulatory filing.
The queries from the two Ministries pertain to the “large gap in vehicle registration as per VAHAN portal and sales as per the company’s regulatory filing dated February 28, 2025 for the month of February 2025,” it said. “The company is in the process of responding to the above,” Ola Electric said.
While the total number of registrations by Ola Electric on the Vahan portal for February stood at 8,652, the company had reported sales of more than 25,000 units during February 2025. As of March 20, the company’s registrations stood at 11,781 on the Vahan portal.
“Further, the company said it has received notices in four States with regard to trade certificates for few of its stores in these States. The company is in the process of responding to the same,” it added.
(With inputs from PTI)
Published – March 21, 2025 12:56 pm IST