Ola Electric Shares Jump 10% To Touch An All-Time High Of INR 146.03
The Big Billion Days Report Card (2)

Ola Electric's Bold Claims vs. Reality

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MapmyIndia Accuses Ola Of Data Theft To Build Ola Maps
The Big Billion Days Report Card (2)
The Big Billion Days Report Card (2)

On 15 August 2022, Ola Electric CEO Bhavish Aggarwal made bold claims during the Ola Sankalp event.

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Ola Electric’s Bhavish Aggarwal Calls MapmyIndia "Opportunistic" For Sending Legal Notice
The Big Billion Days Report Card (2)
The Big Billion Days Report Card (2)

Many lacked evidence or were exaggerated. Let’s examine some of these cherry-picked assertions.

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The Big Billion Days Report Card (2)
The Big Billion Days Report Card (2)

Claim: Ola Electric is the 5th largest EV company by market cap. Fact: Ola is valued at $7 billion, but Tata and Mahindra's EV divisions surpass it with $10 billion valuations.

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Ola Electric Expands Escooter Portfolio With S1X 4kWh, To Add 10K Charging Stations By June

Claim: Ola is the 4th largest EV company by revenue. Fact: Ola’s revenue of $600 million is lower than Lucid Motors' $618 million and Polestar’s $890 million.

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Ola Electric Joins Banks, Financial Institutions To Offer Loans For Scooter Buyers

Claim: Ola aims to build a 100 GWh Gigafactory. Fact: Current regulatory plans only confirm a 20 GWh facility by 2026, making the 100 GWh claim speculative.

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Ola Electric Rides Into EV Motorbike Space, Announces 4 New Bikes

Claim: Ola Electric is the largest EV company globally (excluding China). Fact: Excluding China, which leads the market, is misleading. Chinese firm Yadea sold over 16.5 million units vs. Ola's 300,000.

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Claim: Ola built India's first Lithium-ion cell manufacturing facility. Fact: Log9 Materials launched India's first Lithium-ion cells in 2023, ahead of Ola, which followed in 2024.

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Fact-Checking Ola’s Sankalp: Do Bhavish Aggarwal’s Claims Hold Up?

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