Overview

• Ola Electric’s CEO Bhavish Aggarwal paid Rs 20 crore in fresh cash to maintain pledged shares that back his Krutrim AI venture
• Hyundai Motor Company fully divested its 2.47% holding in the EV maker while Kia reduced its stake in a combined Rs 6.89 billion sale
• Both South Korean automakers offloaded shares at roughly a 6% discount, contributing to an 8% stock decline on Tuesday
• The company’s shares have fallen about 46% since debuting in August 2024 and are down roughly 43% year-to-date
• Ola Electric’s market share in India’s electric two-wheeler segment dropped to 18% in May from over 48% a year earlier amid stiff competition