Newsletter
Things Seem to Keep Getting Worse for Ola Electric as the EV poster child is facing yet another setback.
Two top executives—Chief Technology and Product Officer Suvonil Chatterjee and Chief Marketing Officer Anshul Khandelwal—have resigned, adding to a growing list of challenges for the company.
Why it matters: both Chatterjee and Khandelwal were part of CEO Bhavish Aggarwal’s trusted team, having joined Ola Cabs before transitioning to Ola Electric.
Their exits, effective Dec. 27, leave a noticeable gap in the leadership as the company struggles with internal restructuring and market pressures.
The aftermath: the market didn’t take the news lightly. Ola Electric’s stock dipped 1.06% to ₹88.98, reflecting growing concerns about the company’s stability in an already competitive EV landscape.
Context: this isn’t the first leadership shake-up at Ola this year. High-profile departures have hit its ride-hailing and AI ventures too.
Add to that recent layoffs of 300-400 employees and a troubling 44.25% attrition rate reported in its IPO prospectus, and the cracks in the foundation are starting to show.
Ola Electric is facing a tough battle on multiple fronts, including a shrinking market share in the competitive EV space, increasing customer complaints about product quality, falling stock prices that are shaking investor confidence, and a high employee turnover rate that’s disrupting operations.
Bottomline: despite the setbacks, Ola still has a strong foothold in the EV market, thanks to its popular scooters and upcoming motorcycle lineup. But the road ahead is steep. The company needs to stabilize leadership, address quality concerns, and reassure investors to stay in the race.
For now, it’s a waiting game to see if Ola can weather this storm and keep its EV dreams alive.
