Ola Electric is halting its expansion of battery cell capacity beyond 5GWh to prioritize profitability over growth. With a cooling EV market, their revenue fell to ₹828 crore in Q1 FY25, and losses increased to ₹428 crore. However, due to improved cost management, Ola’s auto division achieved profitability in June, demonstrating resilience amid challenging market conditions.
CEO Bhavish Aggarwal announced that the company will continue with its current battery setup until FY29, incurring a ₹100 crore penalty for not meeting government deadlines. Ola intends to allocate ₹1,227 crore from its IPO funds to enhance core operations and improve margins. Looking forward, they aim to sell up to 3.75 lakh vehicles and generate up to ₹4,700 crore in FY25, while also exploring new technologies and export opportunities.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
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