Bhavish Aggarwal’s Inner Circle: The Key People Driving Ola Electric

Bhavish Aggarwal’s Inner Circle: The Key People Driving Ola Electric

SUMMARY

Ola Electric is looking to create a vertically integrated EV stack and as such there are three major components — manufacturing, battery or cell manufacturing and EV infrastructure such as charging stations

Over the past few years, the company brought on former Vinfast CEO Shaun William Calvert, battery expert Hyun Shik Park from LG and former Mahindra exec Ramakripa Ananthan to head vehicle design among others

Now with the added responsibility of proposed new products — three wheelers, superbikes and most importantly the cells — the relatively new leadership team has to show that Ola Electric can grow in a profitable way as well

Can you name the people behind Ola Electric? Beyond Bhavish Aggarwal, not many names come to mind. The company is looking to create a vertically integrated EV stack and as such there are three major components — manufacturing, battery or cell manufacturing and EV infrastructure such as charging stations. Soon after its flat listing in the first half of August, the stock hit an all-time high on August 20 when it was trading at 157.53. In less than two weeks of listing, Ola Electric stock price had more than doubled, but now the stock is settling close to the INR 110 mark, over the potential long path to profitability. While the gross salary of Aggarwal was INR 2.99 Cr in FY24, Park earned INR 8.7 Cr in FY24, the highest among senior management in the company and its subsidiaries. Additionally, Park received 17.3 lakh shares in Ola Electric during the fiscal year, potentially worth over INR 13 Cr to be vested in the next 4-5 years.There have also been exits in the top management, which is said to be a key factor in Ola Electric rejigging some of its targets. These include Slokarth Das, head of planning and strategy, Saurabh Sarda, head of partnership and corporate affairs, and Shikharr Sood, head of talent acquisition.For instance, the company sold 3.26 Lakh two-wheelers in FY24, it also registered a net loss of INR 1,584 Cr, which effectively means a loss of INR 48,500 on every scooter sold, given that Ola does not yet offer services for EV charging to other OEMs. 

Ola, a brand valued at around $9 Bn, spans across Ola Consumer (formerly Ola Cabs) at $2 Bn, Ola Electric at close to $6 Bn, and Ola Krutrim at $1 Bn. Yet, aside from CEO Bhavish Aggarwal and perhaps his brother Ankush Aggarwal, there aren’t many names that have made it to the headlines.

No results were found for "".
  • «
  • 1
  • »
modal lock

Continue Reading With A Free Inc42 Account

Get the most out of your Inc42 experience by creating a free account. Enjoy personalized recommendations, ad-lite browsing, and access to our exclusive newsletters.