From Ola motorbike and car launch to IPO, CEO Bhavish Aggarwal shares future plan of the firm
Uber Technologies Inc., is a “profitable business for us now," Aggarwal said in last week’s interview in Delhi. He didn’t comment on any renewed attempts to list, nor did he mention a date for a possible Ola Electric IPO.
Amid the global popularity of Tesla and its entry in India, Ola electric CEO said, ‘Tesla is for the west, Ola is for the rest’. He is also building a 115-acre battery factory in southern India, pitting him against billionaire Mukesh Ambani’s Reliance Industries Ltd.
This will help him with manufacturing lithium-ion cells primarily for Ola Electric vehicles. This will also open venues for the company to sell cars on a bigger scale and increase margins, said Aggarwal. Designing vehicles from scratch will give the company more control of quality and costs in a market where most EVs are converted from gasoline models, he said.
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