Ola Electric

Here is our Q2 FY25 Report: bit.ly/3UDZR7K Important quarter for the industry! Some highlights: #MarketLeadership We have maintained our market leadership with 33% market share during Q2 FY25 despite aggressive competitive action. We’re expanding distribution to 2,000 stores by March 2025 from the current 782 in addition to expanding our Network Partner Program #EVPenetration E2W penetration has grown from 5.8% in June 2024 to 7.5% in September 2024, and in scooters from 16.1% in June 2024 to 21.4% in September 2024. In key states like UP, Rajasthan, Karnataka and Maharashtra, penetration is in the range of 25% to 45% #Accessibility Our mass market portfolio (sub ₹1 lakh) continues to drive momentum and has grown 15% QoQ driving EV penetration while our premium portfolio continues to be majority of revenue #VerticalIntegration Our focus on technology and vertical integration continue to drive efficiencies in our BOM cost. A part of this was invested back in growth and a small portion offset by time lag towards PLI accrual on newly certified products #CostEfficiency Operating expenses are marginally lower by 1% QoQ excluding one off costs. We’re focusing on cost efficiency and should be able to keep operating expenses constant or even slightly lower as we grow topline thereby improving operating leverage #ProductPortfolio We continue to enhance our product portfolio and launched our range of motorcycles and are on track to deliver the first of the Roadster series starting Q4 FY2025 #NextGenPlatform Our Gen 3 platform announced in August is ahead of schedule and the S1 Gen 3 products will be delivered in January 2025. Gen 3 will enable a ~20% savings in BOM costs over next 12 months #OlaGigafactory Cell has been an integral part of our vertical integration strategy and we are on track to commence use of these cells in our E2W portfolio by Q1 FY2026

Lights, laughter, and team spirit- heartiest Diwali wishes to everyone celebrating 🪔

Ratan Tata, my personal hero I’m at a loss with Ratan Tata Sir’s passing. His loss feels so personal because it is for me. He was my hero growing up, like for so many others. I consider myself blessed to have gotten the opportunity to know my personal hero deeply over the last decade. Meeting and interacting with him many times and each time, learning lessons for life. My relationship with Mr. Tata started in 2008. I was graduating from IIT Bombay and he was the guest speaker at our convocation. I was a young kid but his words that day stayed with me - to serve one’s country. In 2015, I got the chance to meet Mr Tata and he decided to invest in Ola. But my interactions with him didn’t end there. They had just begun! Mr Tata was like no other business leader I have ever met. He took personal interest in my journey. And in every interaction there was grace, humility, curiosity and a world of learning for me. In 2016, I invited him to come to Bengaluru and address my whole company. I thought a person of his stature would politely decline but he actually took a full day out, flew to Bengaluru and spent the entire day with my team and company! The one story I’d like to share today is his key role in the founding of my second company Ola Electric. One day in 2017 I got a call from him asking me to come to Mumbai. He just said - “Bhavish I want to take you somewhere and show you something exciting”. We flew in his plane to Coimbatore to see his personal project making electric vehicles out of the Tata Nano! He was so passionate and excited about electric vehicles. He even drove me in one on a test track and then pointed out such detailed improvements to the engineers. That was the day Ola electric really got started - as he ignited the passion for EVs and cars in me! After that, almost every product that we conceptualised and designed (some of which are not yet released) I would go and show him the concepts and he would patiently sit with me and ideate and give feedback. His love for animals and dogs also grew on me. In fact, such was his love for dogs that many times when I went to his office, I would notice street dogs proudly sitting right there next to him inside his office! With this inspiration, we decided to open Ola offices and factories to stray dogs and today we have almost 30 of them living in our facilities. The last time I met him was a year ago to share the news of Ola Electric’s IPO and he as usual was gracious and curious. He was frail but his enthusiasm for cars was as high as ever, and his encouragement for me was as strong as ever. As I reflect on his legacy today, he has set a bar so high for all of us. And as I walk on my journey, make mistakes and learn from them, I feel so incredibly blessed to have seen such an amazing man from up close, and gotten a chance to see the ideal to strive for. I will deeply miss him. India will deeply miss him. And there will be no one like him again. Om Shanti🙏🏼

It is always such an energising time, chatting with you Shradha Sharma! You bring such an inspiring and passionate group of entrepreneurs together. 🙌🏼 Today India has the opportunity to lead and champion critical technologies like new energy and AI. 🙌 We at Ola, are determined to play a big role in building these technologies for the world. It’s also important that the Indian tech society is empowered and equipped to innovate and produce high value for the world and not remain a global outpost producing low value work. We together need to build an India of our dreams! 🇮🇳

Introducing Ola Hyper Service ⚡ ✅ 1,000 Service Centres by December 2024. ✅ 1 Lakh Mechanics EV-Ready by 2025. ✅ 1-Day Service Guarantee starting from 10th October. Or get a backup S1. Ola Cabs coupons for Ola Care+ customers. ✅ AI-Powered Maintenance with MoveOS 5 in October. Stay tuned for more updates! #OlaHyperService

Launching #HyperService today for Ola Electric customers! In the last 3 years, we’ve built a 7L+ community and the leading market position. We have close to 800 stores but only about 500 service centres. Changing that today onwards💪🏼 With #HyperService we’re expanding our network and building the best in class ownership experience with on-demand and AI powered service. - Everywhere, anytime service network: By Dec this year, doubling company owned service network to 1,000 centres. - Deeper penetration for EV across India: Training 1,00,000 third-party mechanics under our Network Partner Program to make every mechanic in India EV-ready by Dec 2025. - Quick Service Guarantee: 1 day resolution of service issues! In case of a delay, we will provide a back-up S1 scooter. In addition, Ola Care+ customers will also get free Ola Cabs coupons until their service is resolved. - Ownership experience of the future: AI-powered proactive maintenance and remote diagnostics for one-of-a-kind ownership experience. These will detect issues even before they arise, thereby addressing them proactively at customers' doorstep. These features rolling out with MoveOS 5 in Oct! A lot more to be revealed in the coming days. Hyper speed ahead!⚡️⚡️

Excited to announce Ola Electric Network Partner Program, to end #EndICEAge and take the EV revolution deeper across India! With 625 partners already live, we will touch 1000 by festive season and 10,000 by end of next year. Our D2C model has successfully led the EV adoption in India and a sustainable business growth so far. The Network Partner Program will further amplify our D2C network, enable access to EVs for all Indians and will need much lesser investment from partners than typical dealerships. Win win win! We are committed to provide all Indians with a world class product and a world class service, wherever they are! Running full steam (rather full RPM 😉) to accelerate EV adoption in India!

Celebrating the minds behind the rides that power our future. Happy World Engineer's Day! 🚀🔩 #EngineersDay2024

This World EV Day, we salute the community that drives Ola forward. Your journey makes us unstoppable. ♾ #WorldEVDay

World EV day is here. But at Ola, every day is a step towards a brighter, better future. Here’s to celebrating the drive for change. ⚡ #WorldEVDay