Ola Electric Refutes Insider Trading Allegations in Clarification to Exchanges

Ola Electric Mobility Limited has addressed recent media reports that alleged the company might be under regulatory scrutiny by SEBI for insider trading. In a letter dated May 2, 2025, submitted to both the National Stock Exchange (NSE) and BSE Limited, Ola Electric clarified that the media story titled “Ola Electric Likely in SEBI Crosshairs Over Alleged Insider Trading” contained factual inaccuracies.

The company stated that the individual mentioned in the article is an employee of Ola Electric Technologies Private Limited and holds ESOPs of Ola Electric Mobility Limited. The trades cited were part of routine transactions stemming from the exercise of these ESOPs and did not involve any open market purchases.

The clarification, signed by Company Secretary and Compliance Officer Pritam Das Mohapatra, was also made available on the company’s website to ensure transparency. Ola Electric emphasized that the misleading media coverage could damage its reputation and reiterated its commitment to regulatory compliance.

Meanwhile, Ola Electric recently unveiled its new Roadster X motorcycle series, which incorporates advanced features such as patented brake-by-wire technology, single-channel ABS, and smart MoveOS 5 functions like advanced regeneration, cruise control, and reverse mode. The Roadster X battery system is IP67 certified for water and dust resistance and is designed with a serviceable Battery Management System for easier maintenance.

Ola Electric is an Indian electric vehicle (EV) manufacturer that focuses on developing and producing electric scooters and related mobility solutions. A subsidiary of Ola Cabs, Ola Electric was established to address the need for sustainable transportation options in the country. Headquartered in Bengaluru, Karnataka, the company has made significant investments in building its manufacturing and battery production capabilities, including the establishment of the Ola Futurefactory, which is positioned as one of the world's largest two-wheeler manufacturing facilities.

Ola Electric entered the Indian market with the launch of its S1 and S1 Pro electric scooters, targeting urban commuters looking for environmentally friendly mobility alternatives. The company emphasizes features such as connected technology, app-based controls, and competitive performance specifications. Its scooters offer varying battery capacities, range options, and smart functionalities like keyless entry, navigation assistance, and vehicle diagnostics. Ola Electric has expanded its product portfolio over time, introducing models at different price points to cater to a broader segment of consumers.