HSBC Cuts Ola Electric Target Price:

A Giant in Trouble

HSBC has downgraded its rating on Ola Electric to 'hold' and shaved the target price to Rs 70, owing to some drastic market shift. The electric vehicle manufacturer has faced volume disappointments since listing, mainly through quality and service-related concerns. Despite these efforts and announcements on the EV motorcycle launch, Ola Electric's market share has slid from 49% to 23%. This downgrade reflects growing skepticism about the company's medium to long-term growth prospects amidst fierce competition in the evolving EV landscape.

Source: The Economic Times