Business Standard

Ola Electric's high-stakes ride: Can Aggarwal disrupt India's EV market?

By setting up massive capacities in a limited market against entrenched competition, founder Bhavish Aggarwal has his work cut out proving the sceptics wrong

Ola electric, Electric vehicles, EVs, battery charging, two-wheeler

As a tech services company, Ola has never been in hardcore manufacturing. And unlike in ride hailing, which is a two-player market (Uber is the only other competitor), in two-wheelers it faces many entrenched players

Surajeet Das Gupta New Delhi
His key potential rival, a domestic two-wheeler with a global presence, dismisses the plan as “outrageous” and impossible to comment on. Others say it is just a game to up Ola Electric’s valuation, because its flagship ride-hailing business has faced a tough year due to the Covid-19 pandemic (Ola Cabs’ valuation was recently downgraded by one of its investors, US-based Vanguard Group).

But that does not deter foun­der Bhavish Aggarwal from doing what he knows best — disru­pt the market — with an am­­bitious plan to shake up the internal combustion engine-dominated two-wheeler market over which Hero, Bajaj, TVS and

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First Published: Mar 18 2021 | 6:10 AM IST

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