Ola Electric drops on CMO and CTO resignations

Ola Electric Mobility dropped 5.37% to Rs 85.25, following the resignations of chief marketing officer Anshul Khandelwal and chief technology and product officer Suvonil Chatterjee, effective December 27th.

Both executives resigned due to personal reasons, according to a company filing.

Khandelwal joined Ola in 2019 after the acquisition of Foodpanda, where he served as head of marketing and revenue. He later became the head of marketing at Ola Foods before assuming the role of CMO at Ola Electric in 2022.

Chatterjee joined Ola in 2017 as head of design and was subsequently promoted to chief technology and product officer in 2021.

These departures follow a series of senior-level exits at Ola Electric. In 2019, co-founder and former chief technology officer Ankit Bhati stepped down. Earlier in 2024, the company saw the departure of Pramendra Tomar, its company secretary and compliance officer. Recently, N Balachandar, chief people officer of the Ola Group, left the organization in mid-December.

Ola Electric is a leading Indian EV manufacturer focused on vertical integration, overseeing the entire production process from battery cells to final vehicles. Its Futurefactory in Tamil Nadu is a key production hub, supported by global R&D efforts and the Battery Innovation Centre in Bengaluru. Ola's direct-to-customer sales model, with a vast network of physical and online stores, ensures wide accessibility and a seamless customer experience.

Ola Electric Mobility reported net loss of Rs 495 crore in Q2 FY25 as against net loss of Rs 524 crore in Q2 FY24. Revenue from operations jumped 38.39% to Rs 1,240 crore in Q2 FY25 compared with Rs 896 crore in Q2 FY24.

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