Bhavish Aggarwal on Ola Electric
When Bhavish Aggarwal arrived for are cent visit at the Ola Future factory, marketed as the world’s largest electric two-wheeler plant, the company’s founder was quick to spot a shuttered entryway that should have been left open. He immediately summoned a custodial manager, people who were present said, and meted out a punishment:run three laps around the several-acre-large plantSuch an unsparing attitude has made Aggarwal, 37, one of India’s most determined entrepreneurs but also one of its most divisive. In his twenties, the founder of India’s largest ride-sharing company held off deep pocketed rival Uber to remain the country’s top brand. Now, Aggarwal wants his Ola Electric Mobility Pvt Ltd to displace Elon Musk’s Tesla Inc and China’s BYD Co. as the industry leader for electric vehicles by carving out a niche in lower cost designs.But Aggarwal’s relentless pace and management style have vexed some managers and board members at Ola Electric, raising concerns about safety and the business model, according to interviews with more than two dozen former and current employees, who asked for anonymity out of concern for reprisals. Supply chain problems have delayed two wheelers. Sales have slowed. Some customers complain that scooters catch on fire, have faulty batteries or accident-causing software, spurring product recalls and apologies on Twitter. Around t dozen senior executives working across Aggarwal two billion-dollar companies – Ola Electric and ANI Technologies Pvt, which runs Ola’s ride-hailing operations – have quit within a year or two of joining, a higher turnover rate than peers.Electric. Among other Book a test drive Wonderful things #FuturelsAnAttitudeT&C Apply Late last year, as internal challenges mounted and global investment climate cooled, Aggarwal paused an initial public offering plan for ANI Technologies, which was last valued at $7.5 billion according to researcher CB Insights. Now, as question marks hang over Ola Electric, multiple current and past executives said in interviews that the company and its risk-taking founder are at a crossroads: Aggarwal could become India’s answer to Elon Musk or he could collapse under the weight of his own ambitious vision. “Passions and emotions run high and we are not on an easy journey,” Aggarwal said in an interview last month at Ola Electric’s swanky headquarters in Bengaluru, occasionally petting the three office dogs: Happy. Husky and Fatty. “But don’t want to choose an ea journey for myself or for Ola. My anger, my frustrat – that’s me as a whole. <Aggarwal’s mission has promise. India is already the world’s largest manufacturer of two-wheelers and the biggest global market. With blue-chip investors and sovereign funds looking for alternatives to China, the country’s success in building affordable vehicles could provide a model for how developing economies can scrap combustion engines and lower emissions without costly electric cars. In India, government subsidies and inexpensive labor are helping make EVs as cheap as or cheaper than internal-combustion engine models.Electric. Among other Wonderful things”The cheapest Tesla costs $50,000, which most of the world cannot afford,” Aggarwal said. “We’ve a chance to lead the EV revolution with a different set of options priced between $1,000 and $50,000.”
