February sales show genuine customer demand, not token-amount bookings: Ola Electric
Nearly 90% of these orders were paid in full at the time of placement, Ola Electric said.
Ola Electric Mobility on Tuesday clarified that its February sales represent genuine customer demand and not "token-amount bookings".
The February 2025 sales announcement was based on paid and confirmed orders, not preliminary "bookings", the Bengaluru-based company said in a regulatory filing.
Nearly 90% of these orders were paid in full at the time of placement, said.
This includes customer orders for the new products, Gen 3 and Roadster X, which have been available for full purchase (not just pre-booking) during February 2025, it stated.
"We are issuing a proactive statement to our broader stakeholder community since we have fielded multiple inquiries about the company's February sales figures in recent days," Ola Electric said.
It is essential to underscore that vehicle deliveries are sequenced to follow confirmed orders with full payment, a standard and universally-accepted industry practice, it said.
Any attempt to conflate bookings with full-payment orders, or to suggest that deliveries must precede or immediately follow orders, misrepresents how the automotive industry functions, it added.
"It is also important to note that the company recognises revenue only upon completion of the registration and delivery of the vehicles," it said.
"We urge all stakeholders, including media platforms, to avoid contributing to the spread of unsubstantiated claims," it added.
The company continues to work with integrity despite facing unsavoury claims and attacks, it noted.