Ola Electric has put on hold its plans to make an electric car, Bhavish Aggarwal told PTI. The head of the recently listed firm answered in the affirmative on being asked by PTI if the electric car project was off the table. “We are not working on it right now.”
He added that their vision was to make products relevant for India and work on technologies to enable the products at scale. “We’re going in a sequence, two-wheelers and then other products.”
In the first quarter of this fiscal, Ola Electric’s auto segment EBITDA was close to break even, except for a one time reversal of roughly Rs 30 crore that it had to give as part of standard operating procedure for PLI rules, Aggarwal told PTI, adding that the cell segment was at a different stage of evolution.