By CNBCTV18.com | Dec 21, 2023 4:55 PM IST (Updated)
Ola Electric IPO Live: Bhavish Aggarwal wants to make India a global EV hub
During the company’s annual event on August 15, last year, Aggarwal announced his plans for a new indigenously developed lithium-ion battery and shared Ola’s vision for making India a global EV hub along with new details of its upcoming electric car.
Ola Electric IPO Live: Sold over 2.4 lakh vehicles in 2023
Ola Electric has sold over 2.4 lakh vehicles in calendar year 2023, has a 35% market share and is looking to launch a giga factory for lithium-ion cell manufacturing by February.
Ola Electric IPO Live: Plans to achieve EBITDA profitability by FY25
Ola Electric has shown a consistent improvement in its gross margin, moving from a negative margin of -5.4% in FY22 to a positive 7.63% in FY23. Furthermore, Ola Electric plans to achieve EBITDA profitability by FY25, targeting a profit margin of 6.6%.
Ola Electric IPO Live: Bhavish Aggarwal commands 37% stake
Bhavish Aggarwal, the founder of Ola Electric, holds the largest share at 37%. Other significant shareholders include SoftBank at 23.6%, Tiger Global at 6.3%, ANI Technologies and Ola each at 4.7%, Matrix Partners at 3.8%, and Alpha Wave Global at 3.6%.
Ola Electric IPO Live: Challenges ahead
One of the key challenges is maintaining a market lead amid competition from TVS, Bajaj, Hero and Ather. Reducing losses in the wake of subsidy reduction is another task at hand. It also has to resolve after-sales issues being faced by customers in a better manner.
Ola Electric IPO Live: Bhavish Aggarwal launched Krutrim AI last week
On December 15, Ola CEO Bhavish Aggarwal also launched Krutrim AI as India’s first full-stack AI, emphasising its unique localisation with over 2 trillion tokens supporting 20 Indian languages. The model aims to shape a culturally expressive for India, driving an AI-first economy, and challenging global paradigms.
Ola Electric IPO Live: Aims to raise funds for EV portfolio, giga factory and sales
Market analysts believe Ola Electric will have to show a clear path to profitability and growth to justify a $2-3 billion increase in valuation in just two months.
Through the Ola Electric IPO proceeds, the firm aims to raise funds for its increasing EV portfolio, giga factory and sales.
Ola Electric IPO Live: Aims to sell 9 lakh units in 2024-25
Ola will sell 900,000 units in 2024-25 and 2.3 million units in 2025-26, according to a Reuters report. Those targets are 60% and 21% lower than earlier estimates when incentives were in place.
Ola Electric IPO Live: Experts raise questions over $3 billion surge in 2 months
The Initial Public Offering (IPO) aims to raise $700 million, potentially valuing the company between $7 billion and $8 billion. This valuation marks a substantial leap from previous funding rounds, prompting market experts to raise concerns about the swift increase in valuation.
Ola Electric IPO Live: Beyond electric two-wheelers
Ola Electric is launching a giga factory to manufacture lithium-ion cells by February 2024
The company is also considering the launch of a 500km range electric car by late 2024
Additionally, Ola is testing an autonomous vehicle as well.
Ola Electric IPO Live: Car launch delayed, says CEO Bhavish Aggarwal
Ola Electric’s grand vision is to build scooters, motorbikes, cars and the fundamental cell platform in India and transform the country into a global EV hub eventually. As per Aggarwal, the sequence is a scooter, motorbike and then a car, and in parallel to all of this is a cell.
Ola Electric IPO Live: Plans to achieve EBITDA profitability by FY25
Ola Electric has shown a consistent improvement in its gross margin, moving from a negative margin of -5.4% in FY22 to a positive 7.63% in FY23. Furthermore, Ola Electric plans to achieve EBITDA profitability by FY25, targeting a profit margin of 6.6%.
Ola Electric IPO Live: Bhavish Aggarwal wants to make India a global EV hub
During the company’s annual event on August 15, last year, Aggarwal announced his plans for a new indigenously developed lithium-ion battery and shared Ola’s vision for making India a global EV hub along with new details of its upcoming electric car.
Ola Electric IPO Live: By the end of 2025, we can make all two-wheelers in India electric, said Bhavish Aggarwal
Aggarwal, speaking exclusively to CNBC-TV18, said, “I am saying this on record that by the end of 2025, we can make all two-wheelers in India electric. It is a little aggressive. But that’s what we are striving for. And to make that happen, we need to build the right products for India at the right cost structures and to bring the supply chains to India.”
Ola Electric IPO Live: No electric car launches until early 2025
Market experts claim that to justify its valuation, Ola must demonstrate its ability to launch viable products across different segments. In an interview earlier this year, Aggarwal hinted at delaying Ola’s electric car launch until early 2025.
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