About Ola Electric Mobility Limited

Ola Electric Mobility Limited serves as an Indian electric vehicle manufacturer which received its incorporation on February 3, 2017, before gaining NSE and BSE listing on August 9, 2024. The company operates a vertically integrated business model that designs electric two-wheelers alongside manufacturing battery packs and vehicle frames and motors as core EV components. The company operates the Ola Gigafactory for cell production while it distributes its products directly to customers through a D2C network. 

The company operates across 30 Indian states with two domestic plants and two Indian offices and three international research and development and sales and technology offices while having no international customers and zero export contribution to annual revenue. The Company maintained five subsidiaries (three Indian and two foreign) and five step-down foreign subsidiaries (total 10) as of March 31, 2025.

Ola Electric Mobility Limited Key Milestones included

• A successful public listing; commissioning of the Gigafactory and commencement of production of the indigenously developed Bharat Cell; and continued industry leadership with cumulative sales of approximately 9.7 Lakh units since inception. 
• Ola presented its Gen 3 platform through the S1 Pro+, S1 and S1 X models which offer peak power gains of 20% along with 20% extended range capabilities and an 11% reduction in costs compared to its previous generation.

Ola Electric Mobility Limited’s Business Segments

• The company operates in two business segments known as “Automotive” and “Cell”. In the year reported, Automotive contributed 100% of external revenue, while Cell revenue was primarily inter-segment (0%external).
• By geography: Domestic 100%; International 0% (exports as a percentage of total turnover).

Ola Electric Mobility Limited Key Management

• Bhavish Aggarwal – Chairman and Managing Director
• Harish Abichandani – Chief Financial Officer
• Pritam Das Mohapatra – Company Secretary
• Arun Sarin – Non-Executive Director
• Krishnamurthy Venugopala Tenneti – Non-Executive Director
• Manoj Kumar Kohli – Independent Director
• Ananth Sankaranarayanan – Independent Director
• Shradha Sharma – Independent Director

Latest Updates on Ola Electric Mobility Limited

• The company initiated its IPO by issuing 80,86,99,624 equity shares at Rs 76 each and listed on NSE and BSE on August 9, 2024. The net proceeds of Rs 5,275 crore (after issue expenses) were allocated for cell gigafactory capital expenditure and subsidiary debt repayment along with research and development and organic growth and general corporate uses while Rs 2,823 crore remained unused until March 31, 2025.
• Manufacturing and technology: Commissioned the Gigafactory and commenced production of the Bharat Cell, advancing vertical integration and supply resilience.
• Product launches: Introduced the Gen 3 platform and delivered the S1 Pro+, S1 and S1 X variants with noted performance and cost improvements.
• Market presence: Expanded India’s largest EV distribution network to over 4,000 customer touchpoints, with deep penetration into Tier-3 and rural markets, alongside a comprehensive network transformation initiative to improve delivery timelines and inventory management.
• Policy and incentives: The company is an approved participant under the Production Linked Incentive (PLI) schemes for ACC cell manufacturing and for Automobile and Auto Components; E2W products qualified for FAME II benefits until mid-FY 2025.