Ola Electric CEO Bhavish Aggarwal counters MapmyIndia's claims, denies involvement in mapping dispute
Ola Electric has issued a legal notice to MapmyIndia but has yet to receive any response. "Empty vessels make more noise," Aggarwal remarked, emphasizing that Ola Electric is not even involved in the mapping business.
He suggested that the timing of the accusations, just ahead of Ola Electric's IPO, was a deliberate move by MapmyIndia to gain visibility.Ola Electric made its debut on the stock exchanges on August 9, successfully raising ₹5,500 crore through its initial public offering. The controversy with MapmyIndia began on July 23, when the digital navigation firm sent a legal notice to ANI Technologies, just three days before Ola Electric filed its red herring prospectus.MapmyIndia, known for its digital navigation services, has questioned ANI Technologies' claims of developing a proprietary map of India, dismissing it as a "gimmick." During an earnings call on August 12, Rohan Verma, CEO and Executive Director of MapmyIndia, shared that Ola had licensed their map data in 2015 and continued to use their APIs and SDKs in their vehicles until 2021.
Verma indicated that MapmyIndia initiated legal action due to breaches of terms and conditions by Ola.Aggarwal, on the other hand, maintained that Ola has developed its own mapping technology, backed by data from its extensive ride-sharing operations and an acquisition in the geospatial sector. He suggested that the success of Ola Maps might be causing concern for MapmyIndia, leading to these public accusations.As of now, MapmyIndia has not provided an update on the legal notice issued by Ola.(With inputs from PTI) Milestone Alert!
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