At this time, many companies are bringing their Electric Vehicles (EVs) to the forefront. But in the midst of this, OLA Electric, a well-known company, has recently been listed on the Indian Stock Exchange. Today, let’s discuss whether it’s a good idea to buy OLA Electric shares at this moment. Ola’s CEO, Mr. Bhavesh Agarwal, has also revealed that they are planning to enter the four-wheeler market. According to Informeia’s Ground Breaking Research, it takes at least 3.3 hours for an electric vehicle to charge 70-80%. This is a major issue. In contrast, a regular vehicle can be fully fueled at a petrol station in just 5-10 minutes. So why would people wait 3-5 hours for their EVs to charge?
Up until now, Honda, TATA, Hero, and many other companies are getting into the EV game. So, do you think Ola Electric will be able to outdo the market? After getting listed in the market, the company faced a drop in its stock price. This led the government to issue a strict notification, urging them to address the 10,000 pending complaints related to their EVs from customers.
The backup that Ola has is from its other business, which comes from Ola Taxi services. Now, if we talk about their future, I can tell you that the government is continuously supporting electric vehicles. And considering the trend, Ola Electric’s share value could increase in the coming times. Who knows, maybe the next Tesla in India could be Ola. But the competition is tough – if Ola can change its model, design, and pricing game compared to its competitors like Bajaj Auto, Hero, Honda, and TATA, then it might have a chance.
In the EV industry, the biggest challenge is how long the battery will last. If Ola can come up with a solution for that, it would be a huge achievement. Going from a 3-hour journey to 5-10 minutes – that’s a challenging task for Ola and other EV competitors. Buying OLA Electric shares at this time is better left to analyzing their financial trends.
