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Short: Ola Electric Founder Bhavish Aggarwal Story

Ola Electric, founded in 2017 and based in Bengaluru, focuses on manufacturing electric two-wheelers and providing eco-friendly transportation solutions

The company is preparing to launch its first electric scooter in India, aiming for large-scale production from the start to leverage economies of scale, allowing competitive pricing

Ola Electric's factory in Tamil Nadu, with a Rs 2,400 crore investment, will be the world's largest two-wheeler production facility, capable of producing 10 million units annually, and will utilize AI and over 3000 AI-based robots for precise manufacturing

Bhavish Aggarwal, the CEO and founder of Ola Electric, also heads Ola Cabs He is an IIT Bombay graduate and previously worked at Microsoft.

Ola Electric is well-funded with investments from notable entities such as SoftBank Group, Tiger Global, Hyundai, and Kia, and rapidly achieved the 'Unicorn' status

The company plans to address the challenges of electric vehicle adoption, such as range anxiety and charging infrastructure, by developing a vast network of hypercharge stations across 400 cities in India

Competitors in the electric two-wheeler market include Ather, Hero Electric, Ampere, Bajaj, Okinawa, and TVS

Ola Electric's valuation has decreased from $73 billion in 2021 to $2 billion currently, competing in India's ride-hailing market against companies like Uber and Rapido.

The company's IPO draft reveals that Chairman Bhavish Aggarwal will receive a base salary of ₹6 crore and an additional ₹3 crore in variable pay annually

Ola Electric is committed to providing high-quality, sustainable electric scooters and has seen a positive performance in share prices recently, reflecting market confidence in its growth potential