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An attrition rate just short of 50% has put the EV maker’s senior management in a constant state of churn. The result: a lack of stability and depth of experience expected in a company that aims to go public.
The Bengaluru-based startup has expanded into EV retrofitting and lending after trying to make it as a pure-play charging company. Can it find any takers this time around?
The country’s woefully inadequate efforts to reduce its reliance on lithium imports could spoil its EV party.
Despite reducing total losses, the electric scooter maker is losing double the money for every rupee it earns. Collapsing sales, shrinking market share and mounting cash pressure expose its vulnerabilities.