In the face of lost market share, mounting operational challenges and leadership problems, Ola Electric faces a race against time to come up with anything that can stem its decline.
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A more than 50% drop in revenue and twofold increase in net loss, combined with a Rs 1,700 crore debt raise, signal deepening troubles for the EV company.
Bhavish Aggarwal announced various Gen 3 “innovations” at Roadster’s launch event. Far from innovations, these changes could put the Roadster, and its buyers, at substantial risk.
Ola Consumer is gearing up for an IPO, but poor numbers, lack of direction and an uncertain path to profitability make the company a particularly risky bet for investors.