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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The electric two-wheeler maker’s latest layoffs come soon after it let 500 employees go late last year.
Two-wheeler manufacturer Ola Electric is laying off over a thousand employees and contract workers, according to Bloomberg. The cuts will happen across multiple departments including procurement, fulfilment, customer relations and charging infrastructure. The company had already laid off nearly 500 employees last year.
The Bhavish Aggarwal-led company in February reported a net loss of Rs 564 crore in the third quarter of FY25, compared to a loss of Rs 376 crore during the year-ago period. Also, its revenue from operations decreased 19.36% year-on-year to Rs 1,045 crore during the same period.
“We have restructured and automated our front-end operations …
A proposed Rs 12,000 crore incentive shifts the focus to components after the first scheme fell short. But raw material dependence, gaps in technology and China’s dominance remain.
The startup isn’t sure where its future lies—in electric motorcycles or the more recently announced electric scooter? Unsurprisingly, none of the products have amounted to anything so far.
The EV maker is turning to gig-worker rentals to absorb its scooter output. But questions on cost, competition and execution make its latest pivot uncertain.
