Unit sales powers Ola Electric to profitability
Electric two-wheeler company Ola Electric is making profit on unit sales on the back of manufacturing efficiency and economies of scale, said its chief marketing and revenue officer. Though the company declined to share the revenue numbers, it said it is not making a loss.
“We are the most capital efficient business out there in terms of our manufacturing efficiency, economies of scale through our investment in research and development, technology and innovations, which lead us to improve our cost structures,” Anshul Khandelwal, chief marketing and revenue officer, Ola, told Business Standard in an interview.
Earlier, in an interview with this paper in December, Bhavish Aggarwal, founder and chief executive officer of Ola had said the company was aiming to become profitable in 2023.
Ola Electric currently offers two electric scooters — Ola S1 Pro and Ola S1, while a lower-priced version, Ola S1 Air, is expected to hit the roads by April next year.
Priced at Rs 84,999, the S1 Air is a competitive EV product form Ola, which will compete with the leading internal combustion engine incumbents of the industry
