From car launch to IPO, what is the cool plan of Ola CEO

According to data from the Society of Manufacturers of Electric Vehicles, Ola Electric has sold over 2,39,000 electric scooters since December 2021 till date.

Ola is no longer just a car aggregator company. Now it has identified itself as an electric vehicle maker. This identity is also not like that. Started its electric mobility two years ago, sold the first EV scooter in 2021, which now has a 38 percent share in the current market. This is not a small thing. The speed at which the company has achieved success, it seems that the IPO of the company may come in the market soon. On the other hand, the company's e-bike and e-car can also be launched in the next one year. Let us also tell you that what is the planning of Ola's founder Bhavish Aggarwal?

Company's IPO will come soon

The Indian startup firm will start selling electric scooters in late 2021. On the company's IPO planning, Ola Electrics CEO Bhavish Aggarwal said that he was in no hurry to take the company public, adding that he was looking at planning it after four to six years. Now seeing the growth of the company, they are talking about its coming soon. He said now I can feel that it will come much earlier. The 37-year-old CEO told Bloomberg in an interview that Ola Electric has developed and matured faster than I initially thought.

The company is backed by major companies like SoftBank Group Corp and Tiger Global Management. Once a new entrant in the EV segment, Ola Electrics now has a market share of 38 per cent. According to data from the Society of Manufacturers of Electric Vehicles, it has sold over 239,000 electric scooters since December 2021. Highlighting the buyer experience, the CEO of Ola Electric said that there has been an increase in demand from first time scooter buyers. But most of the customers of Ola Electric have already completely changed.

When will Ola Electric motorbike and car come?

Bhavish Agarwal plans to expand the company by launching a motorcycle by the end of 2023 and a battery-powered car in 2024. He also said that this time line can be changed. The CEO of the company is also planning to export the scooters to South East Asia, Latin America and Europe. Let us tell you that Bloomberg News reported in August 2021 that Ola Cabs was selecting banks for an IPO of $ 1 billion, but this could not happen today. On the other hand, no date has been given regarding the IPO of Ola Electric.