Umair Gaines
Ola Electric, which began as a subsidiary of Ola Cabs, has now become a separate business entity. The Indian electric scooter startup, founded in 2017, is headquartered in Bengaluru, India, and has the largest integrated and automated Electric 2 Wheeler manufacturing plant in India. Ola Electric's vision is to unite young, brilliant minds and shape the global EV future, with a focus on sustainability and social performance standards. Bhavish Agarwal, the founder and CEO of both companies, has announced that Ola Electric's manufacturing will be all female-staffed, a positive step towards inclusivity and gender diversity in the country.
| Characteristics | Values |
|---|---|
| Is Ola Electric a part of Ola? | Yes, Ola Electric began as a subsidiary of Ola Cabs. |
| Is Ola Electric a separate entity? | Yes, Ola Electric has established a separate business entity of its own. |
| Founder and CEO | Bhavish Agarwal |
| Year founded | 2017 |
| Headquarters | Bengaluru, India |
| Total funding | $1 billion |
| Number of funding rounds | 14 |
| Number of investors | 68 |
| Valuation | $5.75 billion |
| Number of competitors | 423 |
| Top competitors | Ather Energy, Gogoro, Hero Electric |
| Annual revenue | $633 million (as of March 31, 2024) |
| Net worth of founders | INR 17,700 Cr (as of December 6, 2023) |
| Primary sector | Electric Vehicles |
| Number of employees | Not mentioned |
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What You'll Learn
Ola Electric is a separate entity from Ola Cabs
Ola Electric has enjoyed rapid growth and is now India's number one EV company by revenue. They sold more than 239,000 electric scooters between December 2021 and July 2019, and they plan to produce 10 million electric scooters per year by 2022. The company is also committed to social performance standards and has announced that its manufacturing will be all female-staffed. Ola Electric's founder and CEO, Bhavish Aggarwal, has shared ambitious plans for the company's future, including the unveiling of a motorbike by the end of 2023 and a battery-powered car in 2024.
Ola Electric is developing autonomous and self-balancing technology for two-wheelers, as demonstrated by their Ola Solo prototype. They are also constructing a 115-acre battery factory in southern India, which will enable them to manufacture lithium-ion cells primarily for their electric vehicles. This move will help them sell cars on a larger scale and increase margins.
Ola Electric is dedicated to innovation and revolutionizing electric mobility. They have the largest integrated and automated electric two-wheeler manufacturing plant in India, with a focus on battery innovation and world-class engineering. The company's sustainability pledges and early adoption of EVs give them a competitive advantage over other established automobile companies.
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Ola Electric is a start-up founded in 2017
Ola Electric's initial product offering began in August 2021, with the launch of its electric scooters. The company made significant strides in a short period, selling INR11 billion ($200 million) worth of scooters in 48 hours. As of December 2021, Ola Electric has sold over 239,000 electric scooters, solidifying its position as a leading player in the Indian electric scooter market, with a 38% market share.
The company's success can be attributed to its ability to tap into the demand for electric scooters, particularly among first-time buyers. This has accelerated its progress, positioning it for an initial public offering sooner than initially anticipated. The strong market response has attracted investments from prominent firms such as SoftBank Group Corp and Tiger Global Management, contributing to its rapid growth.
Ola Electric's commitment to sustainability and social performance standards is evident in its plans to introduce electric vehicles by 2023 and its pledge to have an all-female workforce in its manufacturing facilities. The company is dedicated to innovation, with a particular focus on battery technology, and aims to mass-manufacture advanced cell tech in India.
In conclusion, Ola Electric, as a start-up founded in 2017, has made remarkable strides in the electric vehicle industry, challenging established automobile companies and driving the transition to sustainable mobility in India and beyond.
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Ola Electric scooters are a viable alternative to gasoline-powered two-wheelers
Ola Electric scooters have several features that make them a good alternative to gasoline-powered two-wheelers. They offer exceptional acceleration, remarkable handling, and large boot space. The scooters can be charged anytime, anywhere, and the company is building the world's largest and most advanced factory in Tamil Nadu. The scooters have seen great demand, with over 100,000 registrations within the first couple of days of pre-booking.
Ola Electric scooters are competitively priced in the Indian market, ranging from Rs 80,000 to Rs 1 lakh. The scooters have a wide range of colour options and are one of the most affordable premium high-speed scooters in India. The Ola S1, based on the AppScooter developed by Etergo, stands out from its rivals in terms of features and technology. It offers a TFT touchscreen display, a powerful electric motor, and a large battery pack.
Ola Electric scooters face competition from other electric scooter manufacturers in India, such as Suzuki India, Hero Motorcorp, and Bajaj Auto Limited. However, Ola Electric enjoys a first-mover advantage and is committed to introducing more electrified vehicles by 2023. The company is also working on autonomous and self-balancing technology for its two-wheelers, showcasing its innovative capabilities and commitment to sustainable mobility.
In conclusion, Ola Electric scooters are a viable alternative to gasoline-powered two-wheelers due to their environmental benefits, competitive pricing, advanced features, and the company's commitment to sustainability and innovation.
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Ola Electric is India's No. 1 EV company by revenue
Ola Electric, a subsidiary of Ola Cabs, is a separate business entity that was founded by Bhavish Aggarwal in 2010. The company is India's largest electric vehicle (EV) company, with a valuation of $3 billion within its first five years of launch.
Ola Electric has established itself as a leader in the EV market in India, with a particular focus on electric scooters. In 2024, out of the 1.14 million electric two-wheelers sold in India, Ola produced 407,673, capturing a market share of 35%. The company's electric scooters are a viable alternative to gasoline or diesel-powered two-wheelers, contributing to pollution reduction and addressing climate change concerns.
Ola Electric's founder and CEO, Bhavish Aggarwal, has made bold claims about the company's position in the global EV market. In 2024, he stated that Ola Electric was the world's fourth-largest EV company by revenue, excluding China. The company's $734 million initial public offering (IPO) in 2024 was India's biggest that year, and its shares surged 20% on their trading debut, valuing the company at $4.8 billion.
However, Ola Electric has faced challenges, including scrutiny over the quality of its scooters and a sales slump. In 2025, the company posted a net loss of 5.64 billion rupees ($65 million), and its financials remained in the red. Despite these setbacks, Ola Electric continues to be a significant player in India's EV market and is committed to sustainability and innovation.
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Bhavish Agarwal is the founder and CEO of Ola and Ola Electric
Bhavish Aggarwal is the co-founder and CEO of Ola, or Olacabs, and the founder and CEO of Ola Electric. Ola Electric was initially a subsidiary of Ola Cabs, but it has since become a separate business entity. Aggarwal is an Indian entrepreneur with a net worth of $2.3 billion, making him one of the world's youngest self-made billionaires. He was born and raised in Ludhiana, Punjab, and holds a bachelor's degree in computer engineering from the Indian Institute of Technology Bombay.
Ola, India's leading ride-sharing service, has expanded into the electric vehicle (EV) market with the introduction of electric scooters. Ola Electric aims to produce 10 million electric scooters per year and has contributed significantly to sustainability by offering a viable alternative to gasoline or diesel-powered two-wheelers. The company has pledged to introduce electric vehicles by 2023 and plans to deploy EVs for shared mobility and last-mile transportation.
Ola Electric has the largest integrated and automated electric two-wheeler manufacturing plant in India, covering over 400 acres in Krishnagiri, Tamil Nadu. The company's R&D facility focuses on battery innovation, and it aims to mass-manufacture advanced cell technology in the country. Ola Electric's sustainability pledges and early adoption of electric vehicles give it a competitive advantage over other companies like Uber.
Bhavish Aggarwal has been criticized for creating a toxic work environment and displaying aggressive behaviour, which allegedly led to several high-profile exits from the company. He has also faced backlash for his comments on gender pronouns, referring to their use as a "western illness". Despite these controversies, Aggarwal has achieved notable success in the business world, with Ola Electric becoming a unicorn in 2019 and Ola Krutrim, an AI company, achieving unicorn status in 2024.
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Frequently asked questions
No, Ola Electric was a subsidiary of Ola Cabs but is now a separate business entity.
Bhavish Aggarwal is the CEO of Ola Electric.
Ola Electric is an Indian electric scooter startup that began selling electric scooters in 2021.
Ola Electric's vision is to build a future and accelerate the world's transition to sustainable mobility.
Ola Electric is planning to unveil a motorbike by the end of 2023 and a battery-powered car in 2024.
