Bhavish Aggarwal sets bold targets on I-Day fifth year in a row, but delivery remains patchy. Here’s Ola’s track record
The company aims to decorate the motorcycle with the target price with its motorcycle artificial intelligence (AI) chips, battery cells, airbags and new materials. La5 Lakh. Aggarwal called the Motorcycle, which was first displayed as a concept two years ago, and Ola Electric’s new Moonshot project.
“We have shown you a concept two years ago. Many people thought it would remain a concept. But here it has become a prototype.” He said.
On Friday, he introduced India’s first domestic developed Ferritic engine that does not use rare earth magnets, which will help China overcome the crisis that restricts the export of rare earth magnets. These magnets are very important to make motors for homes. The engines will strengthen Ola’s vehicles starting from the third quarter of the 2026 fiscal year (Q3FY26).
Aggarwal said that the integration of cells, motors and other important components helps the company adds better margins to the company. “I want to say that we make a lot of money from these products. The advantage of making all these technologies within the company is that we margin too much.”
Other important announcements on Friday are the launch of S1 Pro Sport, the most powerful scooter to date. Deliveries are planned to start next January.
Although the markets will pricing the announcements to the shares of the company on Monday, the record of Ola’s August 15 promises and ambitions in the last four years was irregular. The company has achieved its goals, albeit with significant delays, but left or scaled others.
For example, a stable Aggarwal took a brave step that Ola Electric would instill the sale of new gasoline two -wheeled vehicles from India by 2025 in its first independence day announcements in 2021.
However, Ola Electric directed the package in the electrification of two -wheeled devices, and about 30% of such 1 million was sold at 25.
In August 2022, the company promised to establish a battery innovation center to make cells that strengthen its vehicles within the company. The center was built over time and despite some delays, the company managed to start the production of 4680 Bharat Cell until April this year.
However, the company has not yet sent a vehicle equipped with these cells and has been a few months behind the programs. Aggarwal on Friday, equipped with in -house cells, said Scooter deliveries will begin until the end of September.
Some promises of Aggarwal were too assertive to be partially delivered. For example, at 2022, the company promised to own an electric car by 2024. The project was kept uncertain.
The company also reduced some ambitions. For example, in August 2024, until 2030, the annual cell production capacity of 2026 and 100 Gigawatt to 20 Gigawatt said it would increase. However, the plan was then scaled. Now the company will maintain its cell production capacity – starting from the financial 1 Gigawatt – limited to 5 Gigawatt until at least 2029.
The company did not make an important update about AI and chip construction plans, one of the most important features of Ola’s Independence Day announcements last year.
Running to 2025 this year was an uncertainty period for the beginning. In February, the company terminated the contracts of two of the registration agencies, which led to a savings of more than 16,000 vehicles for records, led to delays in deliveries.
The company was taken to the National Company Civil Court by one of the agencies, and then Ola solved the problem with the agencies.
Since then, Electric has been dealing with the registration process on its own. The inconsistency of the delay and sales data in the registrations and the inconsistency of the government and the company’s difficult questions, the two ministries – heavy industries and road transport and highways – led to.
In the midst of all this, customer complaints against Aggarwal’s company continued to appear on social media platforms due to service problems.
Claiming service problems, Mahashtra by government officials in large markets against the company’s stores took action. Last month, Mahashtra ordered to close about 90% of the stores in the state due to the lack of trade certificates. The company refused to receive such a notification.
The series of events that emerged in the first eight months of this year deleted more than 50% of the company’s share value. Listed on August 7, 2024, Ola Electric Stock, La157.53 and low La39.58 Since then, compared to the price of the bid La76% closed on Thursday. La41.32.
