Kunal Kamra Vs Ola CEO Bhavish Aggarwal: How It Affected Ola’s Stock Price- Stock Declines Over 6%😱
The controversy began when Kunal Kamra criticized the service quality at Ola Electric's service centers, sharing an image of a large number of scooters waiting for repairs and calling out the company for mistreating Indian customers.
A fiery online exchange over EV service delays leads to a drop in Ola Electric’s stock value and sparks a larger debate on customer service.
Ola Electric has recently found itself at the center of controversy after a public spat between its CEO Bhavish Aggarwal and comedian Kunal Kamra. The clash began when Kamra shared an image of numerous Ola Electric scooters awaiting service, criticizing the company’s slow servicing and tagging government officials, including Nitin Gadkari. Kamra questioned whether Indian consumers were being adequately supported by Ola Electric.
In response, Aggarwal hit back, accusing Kamra of posting a “paid tweet” and sarcastically offering him a job at Ola, stating he would pay more than Kamra’s “failed comedy career.” This comment fueled an online war of words between the two, capturing widespread attention on social media. Aggarwal further emphasized that Ola is working to expand its service centers and address backlogs, while Kamra labeled Aggarwal’s remarks as “arrogant” and “substandard.”
The online spat had serious repercussions for Ola Electric. Following the exchange, the company’s stock price plummeted by 9.4%, falling to ₹89.7 per share. This comes after Ola's initial public offering (IPO) in August, where its stock debuted at ₹76 and had climbed to ₹157.4 before this incident
Ola Electric Scooty Specifications and Pricing
- Model: Ola S1
- Top Speed: 90 km/h
- Range: 121 km on a single charge
- Price: Starts at ₹49,999 (following the recent price cut during the "BOSS sale")
- Battery: 3 kWh lithium-ion battery
The Bigger Picture: Marketing Tactics and Customer Sentiment
The dispute between Kamra and Aggarwal also highlighted a broader issue—customer dissatisfaction with the service provided by Ola Electric. Many users flooded social media to share their own negative experiences with service delays. Furthermore, a social media influencer revealed that Ola had approached him for a paid promotion, adding another layer to the debate on whether companies should engage in such tactics to control their public image. The incident not only underscores the challenges faced by Ola Electric in improving its customer service but also casts a spotlight on the company’s marketing strategies in India’s competitive EV market.
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