Ola Electric‘s share price continued to sink on Monday morning, going down over 2.5% to hit a new all-time low of ₹68.10.

What Happened: Shares of the electric vehicle (EV) maker have faced pressure since its listing, with the stock experiencing a brief surge initially before a consistent decline. The stock has fallen by more than 57% from its peak of ₹157.40. In the last 30 days, the stock has sunk around 20%.

This slump has been attributed to several factors, including declining sales, a reduction in market share, and increased regulatory scrutiny. Just last week, media reports suggested that the Central Consumer Protection Authority (CCPA) has launched an investigation into Ola Electric’s consumer complaint resolution practices, addressing concerns over the effectiveness of its system.

See Also: Hero MotoCorp Shares Jump 3% After Strong Q2 Results

The investigation will focus on the nature of complaints and any deficiencies in service reported against Ola Electric.

The Bhavish Aggarwal-led company reported a net loss of ₹495 crore for the quarter, a minor improvement from the ₹524 crore loss in the same period last year. The electric scooter maker’s revenue from operations grew by 39.06% to ₹1,214 crore.

In October, The company claimed to have sold over 50,000 units during the month, capturing a 30% share of the electric two-wheeler market, recovering from a 28% market share in September. However, the company had announced major discounts in the month.

Price Action: Ola Electric’s share price was down 0.53% to trade at ₹69.75 on Monday morning.

Read Next: HAL Shares Jump 4% As Brokerages Remain Strongly Bullish After Q2-Print