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.
This intimation is being submitted to the exchanges to clarify and prevent the spread of misinformation.
Our February 2025 sales announcement was based on paid and confirmed orders, not preliminary bookings. In February, we disclosed our sales data based on these paid orders as our routine registration process”reflected on the VAHAN portal”was disrupted due to a transition of the process in-house as part of an efficiency initiative. Since then, we have faced consistent negative commentaries from some quarters.
To be clear, the sales figures for February 2025 represent genuine customer demand backed by financial commitment, not token-amount bookings. Nearly 90% of these orders were paid in full at the time of placement. This includes customer orders for our new products, Gen 3 and Roadster X, which have been available for full purchase (not just pre-booking) during February 2025.
It is essential to underscore that vehicle deliveries are sequenced to follow confirmed orders with full payment”a standard and universally accepted industry practice. Any attempt to conflate bookings with fullpayment orders, or to suggest that deliveries must precede or immediately follow orders, misrepresents how the automotive industry functions. It is also important to note that the Company recognizes revenue only upon completion of the registration and delivery of the vehicles.
We urge all stakeholders, including media platforms, to avoid contributing to the spread of unsubstantiated claims. Our tech-enabled direct-to-consumer sales model has upended specific automotive distribution and sales practices.
We continue to work with integrity despite facing unsavoury claims and attacks.