Leadership Changes Amid Restructuring

• Ola Electric is considering internal candidates to fill these critical leadership roles as part of its broader restructuring strategy.
• The restructuring aligns with the company’s efforts to streamline operations and improve efficiency.

Ongoing Restructuring Efforts

• Ola Electric, led by CEO Bhavish Aggarwal, has been undergoing organizational restructuring to reduce redundancies and enhance margins.
• In November 2024, media reports suggested that the restructuring could impact over 500 employees, representing 12% of its 4,000-strong workforce.
• Similar efforts were undertaken in 2022 before the company’s Initial Public Offering (IPO).

Financial Highlights Post-IPO

• Ola Electric’s IPO was launched on August 2, 2024, with shares listed on August 9, 2024, on BSE and NSE.
• For Q2 FY25 (quarter ending June 30, 2024), the company reported a 38.5% year-on-year revenue growth, reaching ₹1,240 crore.
• Deliveries increased by 73.6%, with 98,619 units delivered compared to 56,813 units in the previous year.

Network Expansion and Future Focus

• The company expanded its store network to 4,000 locations across India, a fourfold increase from 800 earlier this month.
• Ola Electric’s restructuring efforts indicate a focus on sustained growth while optimizing costs.

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