Bhavish Aggarwal reveals how Ola Electric became leading EV maker in India
ET Guide to ITR
Which ITR form salaried taxpayer should use
What is the penalty for filing ITR after the July 31 deadline
ITR filing: Claim these 4 deductions to reduce your tax outgo
Ahead of the IPO, the Ola Electric CEO and Founder Bhavish Aggarwal revealed how the company became the leading EV player in India.
«We have already built a market position for us in the EV space. We are also getting there in terms of margin of leap, as the rest are far behind,» Aggarwal said during a press conference.
Aggarwal highlighted the importance of industry-wide efforts for EV success. «But EVs are an industry effort. We are the leaders in terms of numbers and we have also built a very unique strategy– vertically integrated manufacturing, and core R&D. This has helped us build market leadership, as well as launch products sooner into the market,” he added.
According to VAHAN data, Ola Electric accounted for nearly one-third of electric two-wheeler sales in India for FY24. The company sold over 3 lakh units, nearly doubling its sales from the previous fiscal year, where it sold over 1.5 lakh units. Other significant players in the market include TVS Motor Company, Ather Energy, and Bajaj Auto.
Aggarwal addressed the changing mindset of incumbent two-wheeler manufacturers. “Earlier, the incumbents were thinking EVs were not relevant. Now they are coming into this industry as they have understood that EV is the future.” He also stressed the need for future technologies and a specialized manufacturing ecosystem for EVs. “The
