Ola Electric, the electric two-wheeler maker, announced in a regulatory filing that its chief product and technology officer Suvonil Chatterjee and chief marketing officer Anshul Khandelwal have resigned from their respective positions.
Chatterjee, who initially joined the company as head of design six years ago, played a crucial role in the development of key products such as Ola Krutrim and Ola Maps. He was promoted to Chief Technology and Product Officer in 2021.
Khandelwal, who joined the team in 2019, served as head of marketing and revenue at Foodpanda before its acquisition by Ola in 2020. He then moved to head of marketing at Ola Foods and eventually moved up the ranks. ranks to take on the position of Head of Marketing and Revenue at Foodpanda. position of Marketing Director at Ola Electric.
Last month, Ola Group HR Director N Balachandar had resigned from his post.
In November 2024, Ola Electric disclosed a major restructuring effort affecting at least 500 employees. The move follows two previous restructuring exercises in September 2022 ahead of the company’s IPO, during which new hires were announced. The aim was to centralize and streamline operations in various sectors.
The recent departures came shortly after Ola Electric revealed plans to significantly expand its retail and services network from 800 to 4,000 stores across the country.
On November 8, Ola Electric reported a narrower second-quarter net loss, attributed to higher sales and lower raw material costs. The Bangalore-headquartered company said its consolidated loss fell to Rs 495 crore in the July-September period from Rs 524 crore in the previous year.
Shares of Ola Electric rose as much as 6 per cent to hit a high of Rs 99.9 on Thursday following the announcement of opening of over 3,200 new stores co-located with service centers. The move marked India’s largest expansion of electric vehicles in one go.
Despite a 30% increase last month, Ola Electric stock has seen an 8% decline over the past three months.
India’s leading pure-play EV company has now expanded its presence to 4,000 stores across the country, enabling greater reach in cities and establishments across the country, including beyond the cities of level 1 and level 2.
Ola Electric has just launched a range of new scooters, which include the Ola Gig, Gig+, S1 Z and S1 Z+ models. Their prices start from Rs 39,999, catering to the different needs of users in urban, semi-urban and rural areas. These scooters feature durable designs, removable batteries, and flexible solutions. Deliveries of these models are expected to begin in April and May 2025, and bookings are currently available for Rs 499.
