Ola Electric to Accelerate New Projects Including Electric Car, Focus on Tech

Ola Electric CEO Bhavish Aggarwal on Tuesday said the company plans to accelerate its new ambitious projects such as electric car, cell manufacturing and the gigafactory, besides deepening focus on technology and engineering. The company is doubling down on building the future in the country, Aggarwal said while refuting reports that he is stepping away from the company's day-to-day management with CFO Arun GR getting an expanded role.

"Reads like I'm retiring! Not true. Arun is a great leader & he'll help me manage Ola's ops. We will accelerate ambitious new projects like our car, cell, gigafactory etc. & deepen focus on tech & engineering," Aggarwal said in a tweet.

He further said: "More soon. Doubling down on building the future here in India, at Ola!" In a separate statement, a company spokesperson said: "As Ola focusses on accelerating ambitious new projects like car and cell manufacturing, gigafactories and electrifying ride hailing business amongst others, the company is ensuring adequate focus on execution excellence and keeping entrepreneurial leadership high on the new businesses."

Earlier, media reports had stated that Ola's group CFO Arun GR would be given an expanded role to drive the day-to-day operations across the group.