Ola Electric Shares Price Slip 5% After Media Row on Tech Leak Allegations; Company Issues Strong Rebuttal

Bengaluru, November 10, 2025: The shares of Ola Electric Mobility Limited slumped by more than 4% on Monday. At 03:00 PM, the share price of Ola Electric traded at ₹44.26 (down by 4.92% from the previous day’s closing). The reason for the decline was attributed to the recent media reports alleging a technology leak that involves a former LG Energy Solutions executive. However, the company has refuted all the claims and labelled them as ‘misleading and baseless’.

The market, however, reacted strongly to the reports as the stock opened in red and continued its free fall throughout the afternoon session.

Stock Performance

At 03:00 PM, the stock traded at ₹44.26, 4.92% lower than the previous day’s closing price. The day’s range remained between ₹44.22 and ₹46.55. The traded volume was quite high (more than 2 crore shares traded, dominated by sale orders). With today’s slump, the stock has plummeted by more than 9.20% in the past six-month period. The share has gone closer to the 52-week low of ₹39.60 per share.

Company Clarification

The company has clarified, through a regulatory filing, that its 4680 Bharat Cell uses advanced dry electrode technology in a cylindrical form. It does not use the pouch cell technology as mentioned in the foreign media reports. The company further clarified that the 4680 Bharat Cell is the country’s first indigenous large-format cell, which is already in commercial production and competes with Korean majors. The company further made a fresh allegation that the fear of losing market opportunities might prompt the foreign rivals to attack the India-made battery innovation.

The company has reaffirmed its commitment to intellectual property protection and to introducing highly innovative products for consumers. The company also credited the central government initiatives for building a strong R&D ecosystem. As per the regulatory filing, the company labelled the entire episode as a result of business rivals that motivated media speculation.

REF: https://nsearchives.nseindia.com/corporate/OLAELECTRIC_09112025201011_Media_Statement_OEM.pdf

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