Bhavish Aggarwal remarks on EV industry and Make-in-India push
The CEO of Ola Cabs and the founder of Ola Electric, Bhavish Aggarwal, has been in the news recently for remarks he made emphasising the importance of made-in-India digital solutions to counter the dominance of large tech corporations. The tech entrepreneur from India has gradually increased his voice and frequently uses social media to discuss his opinions on technological advancements, especially as they relate to India.
Here are some significant statements and declarations made by Bhavish Aggarwal in the last few weeks that highlight his long-term goals and strategic perspective for digital innovation, in light of Ola Electric's recent announcement that it is opening up its IPO to subscribers.
Only a few days separate Ola Electric from being India's first EV firm to go public. Speaking at a press conference prior to Ola Electric's August 2 initial public offering (IPO), Aggarwal claimed that the company's market share in the electric vehicle (EV) sector is comparable to that of Maruti Suzuki, a major player in the auto industry. “In the EV space, we have already established a market position for ourselves. Since the others are far behind, we are also closing the gap in terms of margin of jump," Aggarwal stated.
Each equity share of Ola Electric has a price range of Rs 72–Rs 76 as part of the IPO. The last day to subscribe is Tuesday, August 6. The IPO price for Ola Electric was 25% less than its prior $5.4 billion value.
Citing Agrawral, Economics Times reported, “We are four-five years old and have scaled significantly. I wanted to make sure we price it attractively for the entire investor community in India. It’s a journey of significance for the country — we’re doing EVs, cells, India manufacturing, cutting-edge manufacturing. Hence, we represent a lot of themes that the future of the Indian economy is built on. The response from investors has been very encouraging,”
Recently, the CEO shared a video on Twitter in which he can be seen riding a bike which is expected to be the Ola Roadster. The company in this upcoming annual Sankalp event on August 15 may release further details about this vehicle