Ola Electric suspends EV production due to stock pile-up: Report
Ola Electric last week suspended electric scooter production at its plant in the Hosur district, Tamil Nadu, reportedly due to inventory pile-up.
According to a report by the Economic Times, production at Ola Electric’s ‘Future Factory’ was stopped on July 21 for about a week. While the company claimed that production had been suspended for annual maintenance and the installation of new machines, three people familiar with the development told the publication that inventory pile-up was the actual reason behind the temporary closure.
As per the report, Ola Electric had 4,000 scooters piled up in the factory, in addition to the thousands that are ready to be shipped to customers who had pre-ordered.
