Indian electric vehicle maker Ola Electric's customers aren't happy with its service and scooters, and it's affecting the company's stock and market Ola Electric's market cap fell below $4.75 billion for the first time since its public debut in August.

When Bhavish Aggarwal-led Ola Electric Mobility hit the floor of the domestic bourses, for days, the stock did not know anything but upper circuits. The high anticipation from the two-wheeler EV maker led the stock to touch the high of 157.

The Central Consumer Protection Authority, India's consumer rights regulator, has sent a show-cause notice to Ola Electric over alleged violation of Indian regulator has sent a notice to Ola Electric over alleged violation of consumer rights.

The central government has issued a showc ause notice to Ola Electric for multiple consumer complaints. These complaints involve service delays, misleading ads, and unfair practices. Ola Electric has been asked to respond within 15 days.

The Central Consumer Protection Authority (CCPA) has taken cognisance of thousands of complaints and issued a showcause notice to Ola Electric.