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Key Points

Ola Electric, led by Bhavish Aggarwal, has once again delayed its Roadster X motorcycle delivery, now targeting May 2025. The repeated postponements have triggered significant market concerns, with the company's stock plummeting over 43% this year. SEBI has reportedly launched an investigation into potential insider trading and suspicious financial transactions. Despite the challenges, Ola Electric maintains that its recent share trades are routine and related to employee stock options.

Key Points: Ola Electric Roadster X Delays Spark SEBI Probe Amid Stock Crash

  • Roadster X motorcycle delivery pushed to May 2025 after multiple delays
  • SEBI investigating potential insider trading and financial irregularities
  • Company's stock price drops over 43% year-to-date
  • Bookings included in sales data despite no vehicle deliveries
2 min read

Ola Electric delays Roadster X deliveries again, shares down over 43 pc

Bhavish Aggarwal's Ola Electric faces delivery delays, regulatory scrutiny, and significant stock market decline after Roadster X postponement

"The trades referred were routine transactions involving shares acquired through exercising these ESOPs - Ola Electric Official Statement"

New Delhi, May 2

Ola Electric has once again delayed the delivery of its Roadster X motorcycle, marking the second such postponement in just two months.

In a stock exchange filing, the company informed that deliveries would now begin in May 2025. Earlier, the company had promised April as the delivery month after missing its initial mid-March target.

The Bengaluru-based EV maker, led by billionaire Bhavish Aggarwal, had first announced the Roadster X on February 5.

However, reports later revealed that the vehicle hadn’t even completed homologation -- an essential regulatory process -- just two weeks before the original delivery schedule.

On April 11, Ola Electric claimed that the first batch of Roadster X bikes had rolled out from its Tamil Nadu Futurefactory and that deliveries would soon start.

But with May now being the new target, customers are still waiting for the product. Despite these delays, Ola Electric has already included bookings for the Roadster X in its sales numbers.

According to a letter dated March 21, the company told the Union Ministry of Road Transport and Highways that it added 1,395 bookings of the motorcycle to its February sales data, even though the vehicles were not yet on the road.

This move has drawn increased attention from regulatory authorities. NDTV Profit reported on Friday that India’s market regulator, SEBI, is now reportedly investigating Ola Electric for possible insider trading and suspicious related-party transactions.

SEBI is also said to be looking into trading activities between October and December 2024, along with the sales data mismatch and other financial dealings.

In response, Ola Electric issued a clarification, through a stock exchange filing, stating that the trades referred to were routine transactions involving shares acquired through exercising these ESOPs and not through the open market purchase.

"The trades referred were routine transactions involving shares acquired through exercising these ESOPs and not through the open market purchase," the company said in its filing.

On Friday, Ola Electric’s share price closed at Rs 48.59 on the Bombay Stock Exchange (BSE), down 0.27 per cent.

According to BSE data, the shares of the electric two-wheeler maker were down by over 41 per cent in the last six months.

On a year-to-date (YTD) basis, the shares had plunged by over 43.5 per cent. In the last three months, the shares had dropped by 34.59 per cent.

- IANS

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Reader Comments

Here are 6 diverse Indian perspective comments for the Ola Electric article:
R
Rahul K.
This is really disappointing as an early booker. First they said March, then April, now May 2025? How can we trust any Indian EV company when they keep missing deadlines? At least Tesla delivers what they promise on time. 😞
P
Priya M.
As someone working in automotive sector, I'm not surprised. Homologation takes months and they announced delivery dates without completing it? This shows poor planning. Hope SEBI investigation brings out the truth about their sales reporting.
A
Arjun S.
The share price drop tells the whole story! Investors are losing faith. Bhavish Aggarwal needs to focus less on Twitter wars and more on delivering products. We want Make in India to succeed but not like this.
S
Sanjana R.
I was so excited for Roadster X but now having second thoughts. Maybe should wait for Revolt or Ather to launch their bikes. At least their existing customers seem happy with after-sales service, unlike Ola's reputation.
V
Vikram D.
The bigger issue is counting bookings as sales! This is creative accounting at its worst. SEBI should come down hard if true. We need transparency in EV sector which is getting so much government support.
N
Neha T.
As an Ola S1 owner, I'll say their products are good but execution is always late. Maybe they're overambitious? Hope they learn from this and deliver quality bike whenever it comes. India needs EV success stories! 🤞

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