In a recent post-earnings chat with CNBC-TV18, Bhavish Aggarwal, the founder and CEO of Ola Electric, revealed that the company is on the verge of profitability. Aggarwal emphasized the company's focus on market leadership and growth investments while maintaining a steady path toward financial sustainability.
Ola Electric's Strategic Vision
Ola Electric has positioned itself as a key player in India's electric vehicle (EV) market, with a strong emphasis on innovation and cutting-edge technology. Aggarwal highlighted the company's tech and manufacturing capabilities as key drivers of its success in the EV space.
Market Expansion and Diversification Plans
Intending to capture a market share of 30-35%, Ola Electric is looking to expand beyond e-scooters into motorbikes and three-wheelers. Aggarwal envisions a balanced revenue approach, with one-third of the company's volumes coming from premium segments and two-thirds from mass segments shortly.
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Financial Performance and Growth
Although Ola Electric reported a net loss of ₹495 crore in the second quarter of FY25, the company's revenue surged by 39.1% year-on-year to ₹1,214 crore. Aggarwal remains optimistic about the future, anticipating the auto business to turn EBITDA positive in the 2025-26 fiscal year.
Path to Profitability
Despite some setbacks, Ola Electric's progress towards profitability is evident in its financial performance and strategic initiatives. Aggarwal's relentless focus on market leadership and growth investments has positioned the company for success in the competitive EV landscape.
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