Bhavish Aggarwal’s new fundraise: Scooter sales picked up, but Ola Electric has a valuation question
Technology

Bhavish Aggarwal’s new fundraise: Scooter sales picked up, but Ola Electric has a valuation question

By Kevin Colleran

Bhavish Aggarwal, co-founder and CEO, Ola

Synopsis

After a tumultuous start, widespread complaints, a fire, and sharp decline in customer interest, the company’s two-wheeler is finally revving up. But the exuberance of its founder on Twitter can hardly mask a mounting cost challenge, lingering safety issues, and some ambitious plans that had to be deprioritised due to a funding squeeze.

Ola Electric ended 2022 with its highest-ever monthly sales. It began the new year maintaining the same volume. It retained leadership in electric two-wheeler sales. Figures from vehicles-database Vahan’s dashboard show 17,372 Ola scooters were registered in January, twice the number of Ather’s, the second-highest seller. That should give a sense that the unicorn EV maker has put a tumultuous period behind, entered into a steady track, and is

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Kevin Colleran 84874 posts