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BENGALURU: Ola Electric Mobility reported revenue of Rs 504 crore for the Dec quarter, down 57% year-on-year from Rs 1,172 crore and 33% from Rs 756 crore in the Sept quarter. The company reported a loss of Rs 487 crore, narrower than the Rs 564 crore loss a year earlier but wider than the Rs…
NEW DELHI: App-based transport workers across India observed an All-India Breakdown on February 7 after unions representing gig drivers and delivery workers called for a nationwide shutdown to protest falling incomes, rising costs and what they described as increasing exploitation by platform companies.The protest was called by the Telangana Gig and Platform Workers Union and…
Bengaluru: Ola Electric said it will cut about 5% of its workforce as part of a broader business turnaround and structural transformation focused on automation and service-led execution. The company had around 3,500 employees before the layoffs, according to a person familiar with the matter who spoke on condition of anonymity.The latest decision, affecting about…
BENGALURU: Ola Electric on Monday announced the appointment of Deepak Rastogi as its chief financial officer, effective Tuesday, after incumbent CFO Harish Abichandani stepped down citing personal reasons, according to stock exchange filings. The company’s stock fell 4% on Monday. TNN Source link
BENGALURU: Ola Electric Mobility on Monday said it has appointed Deepak Rastogi as its chief financial officer, effective January 20, after incumbent CFO Harish Abichandani resigned from the role citing personal reasons, according to exchange filings.In a disclosure to stock exchanges, the company said its board approved Rastogi’s appointment at a meeting held on January…
BENGALURU: Masayoshi Son-led SoftBank Group pared its holding in Ola Electric Mobility to 13.5% from 15.6%, in what appears like a staggered exit from the electric 2-wheeler maker that was once among its marquee India bets. SVF II Ostrich (DE), a SoftBank affiliate and Ola Electric’s second-largest shareholder after founder Bhavish Aggarwal, sold 9.4 crore…
NEW DELHI: Ola Electric on Thursday said it has received a sanction order from the ministry of heavy industries for the release of incentives amounting to Rs 367 crore under the production-linked incentive scheme. The sanction pertains to the demand incentive for the determined sales value for FY 2024-25. Source link
Ola Electric faces abetment to suicide charges after an engineer’s death. His family alleges workplace humiliation and salary denial drove him to suicide, naming CEO Bhavish Aggarwal and a senior executive in an FIR. The company denies harassment claims, expressing condolences and pledging cooperation with the investigation. BENGALURU: Last month, a 38-year-old engineer working with…
BENGALURU: A 38-year-old engineer working with Ola Electric in Koramangala allegedly died by suicide on September 28, with a recovered note accusing top company executives of workplace harassment and mental pressure. A criminal case has now been registered against Ola CEO Bhavish Aggarwal, senior engineer Subrat Kumar Das, and others for alleged abetment.The deceased, K….
