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Ola Electric is cutting 500 jobs across verticals and levels as part of a restructuring exercise, according to people aware of the development. The company, which has come under the scanner for its poor aftersales service recently, had started the job cut in the September quarter. "It has been going on for some time now, starting around July. It has been a gradual process of removing redundant roles across verticals and levels," said a source. The exercise is expected to be completed by the end of this month. Ola Electric is looking to optimise workforce with an aim to improving margins and enhance profitability, the person added. Earlier this month, Central Consumer Protection Authority (CCPA) had ordered a detailed probe into complaints related to alleged "deficiencies" in services and electric two-wheelers manufactured by Ola Electric. Last month, the company had said that out of 10,644 complaints received from CCPA, it has resolved 99.1 per cent of the complaints.

Ola Electric cuts 500 jobs across verticals

Ride-hailing major <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> has started to lay off 200 employees from its <keyword id="6362049" type="General" weightage="50" keywordseo="ola-cabs" source="Orion">Ola Cabs</keyword>, Ola Electric and <keyword id="7306214" type="General" weightage="50" keywordseo="ola-financial-services" source="Orion">Ola Financial Services</keyword> verticals as part of the "restructuring" exercise. The layoffs, which were first announced in September last year, happened across the teams. The company told IANS that it is "centralising operations and is undertaking a restructuring exercise to minimise redundancy and build a strong lateral structure that strengthens relevant roles and functions". The layoffs constitute 10 per cent of its 2,000-strong engineer workforce "as part of a larger restructuring exercise towards its electric dream". "Currently, the company has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 over the next 18 months," according to the ride-hailing company. The Bhavish Aggarwal-run company has nearly 1,100 employees in its core ride-hailing business. Earlier, restructuring exercises impacted employees across product, marketing, sales, supply, tech, business, and operations verticals at the company, affecting nearly 500 employees that "were a result of restructuring in the cars and dash businesses". The ride-hailing major last year shut down its used vehicle business <keyword id="3295694" type="General" weightage="50" keywordseo="ola-cars" source="Orion">Ola Cars</keyword>, as well as its quick-commerce business, <keyword id="13052888" type="General" weightage="50" keywordseo="ola-dash" source="Orion">Ola Dash</keyword>, as the company shifted to focus on its electric two-wheeler and car verticals. Ola said it plans to hire 5,000 engineers as it doubles down on new engineering verticals and strengthens capabilities across the vehicle, cell, battery, manufacturing and autonomous streams. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/fugitive-diamantaire-mehul-choksi-buying-protection-by-bribing-antigua-officials-says-an-expos-on-blogger/articleshow/96956166.cms">Fugitive diamantaire Mehul Choksi buying protection by bribing Antigua officials, says an exposé on Blogger</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/oneplus-11-5g-launch-event-how-to-buy-event-tickets-price-benefits-and-more/articleshow/96956696.cms">OnePlus 11 5G launch event – how to buy event tickets, price, benefits, and more</a>

Layoffs begin at Ola, 200 employees to be impacted by restructuring exercise

<ul><li><keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> is now on a lookout for more driver partners, as it plans to expand into new cities and product offering.</li><li>Ola’s revenue declined by 95% in the first quarter of FY2021 due to the pandemic.</li><li>The impact of the pandemic will be long-drawn for Ola as the world is not going to “revert” to pre-COVID era anytime soon, CEO Aggarwal had said last year. </li></ul>Ten million people tried Ola for the first time in the financial year 2021, the ride hailing giant’s chief executive (CEO) Bhavish Aggarwal announced on Twitter on Tuesday, September 7. This coincides with the fact that it crossed its pre-COVID level gross merchandise value (GMV), last week. Ola is now on a lookout for more driver partners, as it plans to expand into new cities and product offering. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> The development does come as a surprise as Ola had been massively impacted by COVID-induced travel restrictions and lockdown last year. The Bengaluru-based startup had to lay off <a href="https://www.businessinsider.in/business/startups/news/ola-fired-1400-employees-as-revenue-is-hit-by-95-in-the-last-two-months/articleshow/75843656.cms">1,400 employees</a> from its workforce in May 2020 as its revenue declined by 95% in the first two months of the financial year 2021. “Our revenue has come down 95% over the past 2 months. Most importantly, this crisis has affected the livelihoods of millions of our drivers and their families across India and our international geographies,” Aggarwal said in an internal email sent to employees last year. He also mentioned that the impact of the COVID-19 pandemic will be long-drawn for Ola as the world if not going to “revert” to pre-COVID era anytime soon. “Social distancing, anxiety, and an abundance of caution will be the operating principles for everyone,” he wrote in an email to employees while announcing the layoffs. As Ola has managed to recover from the impacts of the pandemic, it has put its initial public offering (IPO) plans back on the table. The company has raised<a href="https://www.businessinsider.in/business/startups/news/ola-app-raises-500-million-from-temasek-and-warburg-ahead-of-ipo/articleshow/84261607.cms"> half a billion dollars</a> from Temasek and Warburg Pincus in July 2021. It also raised $100 million debt for its electric vehicles (EV) focused arm Ola Electric to finance new projects. Ola was founded by Aggarwal and Ankit Bhati in 2010. The company has its presence across three continents. It has raised more than $4 billion to date from marquee investors like SoftBank, Tencent, Steadview Capital, Eternal, Sailing Capital, China Eurasian Economic Cooperation Fund and others. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zoho-corp-invests-5-million-in-medical-devices-startup-voxelgrids/articleshow/86000656.cms" data-type="tilCustomLink">Zoho Corp invests $5 million in medical devices startup Voxelgrids</a> <a href="https://www.businessinsider.in/business/startups/news/logistics-company-delhivery-raises-76-million-ahead-of-its-ipo/articleshow/85997440.cms">Former Tiger Global exec Lee Fixel picks Delhivery as his second bet in India, after Inshorts</a> <a href="https://www.businessinsider.in/tech/news/el-salvador-just-bought-400-bitcoin-and-plans-to-buy-a-lot-more-a-day-before-making-it-an-official-currency/articleshow/85995497.cms">El Salvador just bought 400 bitcoin and plans to buy 'a lot more,' a day before making it an official currency</a>

10 million people tried Ola for the first time last fiscal year, says CEO Bhavish Aggarwal

<ul><li>Executive director of <keyword id="42747" type="General" weightage="20" keywordseo="Tata-Motors" source="Orion">Tata Motors</keyword>, Mr. Girish Wagh, announced at the <keyword id="13421246" type="General" weightage="20" keywordseo="auto-expo-2023" source="Orion">Auto Expo 2023</keyword> that the company is reimagining its entire product portfolio and operations to achieve net zero greenhouse gas by 2045.</li><li><keyword id="42747" type="DOMAIN" weightage="20" keywordseo="tata-motors" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="tata motors" meta.entityname="Tata Motors Ltd." meta.entityid="12934" meta.seoname="tata-motors-ltd">Tata Motors</keyword> MD <keyword id="1890649" type="General" weightage="20" keywordseo="Shailesh-Chandra" source="Orion">Shailesh Chandra</keyword> stated that the transition from traditional fuels to the EV ecosystem is 'inevitable.'</li><li>Highlighting the company's launches, Chandra noted that the products will cover the entire spectrum of price points</li></ul> The Managing Director of Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility Ltd., Mr Shailesh Chandra provided nuanced solutions for decreasing <keyword id="2894418" type="General" weightage="20" keywordseo="range-anxiety" source="Orion">range anxiety</keyword> among buyers with respect to the upcoming Electronic Mobility Ecosystem. In a conversation at the Auto Expo - The Motor Show 2023, Chandra said, "...I think the solution lies in the charging infra and ability to charge cars fast, and that also mainly on the highways". "..Having seen that in the last 2 to 3 years, or last 1 year, there are 3000 chargers which have been put which was not the case 4-5 years back. And not only has <keyword id="45008" type="DOMAIN" weightage="20" keywordseo="tata-power" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="tata power" meta.entityname="Tata Power Company Ltd." meta.entityid="12918" meta.seoname="tata-power-company-ltd">Tata Power</keyword> started putting these public chargers but now, there are many regional players and start-ups which are coming into this space. So in 2-3 years, I think the situation will be very different" he added. On January 11, the executive director of Tata Motors, Mr. Girish Wagh, announced at the Auto Expo 2023 that the company is reimagining its entire product portfolio and operations to achieve net zero greenhouse gas by 2045. Chandra stated that the transition from traditional fuels to the EV ecosystem is 'inevitable', and that the world for the automobile company after achieving its net zero targets would be 'fully electric'. "...Globally also it is acknowledged that given that the automotive industry has a significant contribution to the emissions, so it has to also move towards zero-emission technology very fast," he said, noting that in Europe and UK, the timeline to achieve the net zero target is defined aggressively by 2035. Talking about the affordability of Tata's EV products, Chandra said, "If you see the median prices of the cars sold in the country, it is roughly 9-9.5 lakh. So that's the sweet spot where the demand of the PV industry is there". "As far as mainstreaming of EV products is concerned, I think we have come to some distance in terms of bringing a product which can do that" he added, referring to the Tata Tiago EV. Highlighting the company's launches, Chandra noted that the products will cover the entire spectrum of price points and therefore, people with multiple affordability levels could buy a car. Tata Motors showcased 14 different vehicles at the Auto Expo 2023, including 4 natural gas-powered models, 2 fuel agonistic, new generation architectures, 5 BEVs (Battery <keyword id="6354973" type="General" weightage="20" keywordseo="electric-vehicles" source="Orion">Electric Vehicles</keyword>), 2 Hydrogen fuel cell electric vehicles and one Hydrogen internal combustion engine vehicle. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/layoffs-begin-at-ola-200-employees-to-be-impacted-by-restructuring-exercise/articleshow/96960388.cms">Layoffs begin at Ola, 200 employees to be impacted by restructuring exercise</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/evs-take-the-limelight-of-auto-expo-2023-new-launches-concept-cars-all-the-highlights-from-the-auto-show/articleshow/96944611.cms">EVs take the limelight of Auto Expo 2023 — new launches, concept cars, all the highlights from the auto show</a>

Charging infra improvement can reduce range anxiety for EVs: Tata Motors MD

Indian-origin <keyword id="6354616" type="General" weightage="20" keywordseo="Twitter" source="Orion">Twitter</keyword> CEO <keyword id="3115373" type="General" weightage="80" keywordseo="parag-agrawal" source="Orion">Parag Agrawal</keyword> on Thursday said that "despite the noise" coming from Tesla CEO <keyword id="3853762" type="General" weightage="80" keywordseo="elon" source="Orion">Elon</keyword> <keyword id="364027" type="General" weightage="80" keywordseo="musk" source="Orion">Musk</keyword> after his successful $44 billion takeover of the company, he and the entire team will continue to do the job to change Twitter for better. In a tweet, <keyword id="12857" type="General" weightage="100" keywordseo="agrawal" source="Orion">Agrawal</keyword>, who may leave or asked to go once the deal is finalised, said: "I took this job to change Twitter for the better, course correct where we need to, and strengthen the service. Proud of our people who continue to do the work with focus and urgency despite the noise". Musk on Thursday tweeted that "Twitter DMs should have end to end encryption like Signal, so no one can spy on or hack your messages". After the Twitter board accepted his takeover bid earlier this week, Musk has been tweeting about changes that he wants to bring into the micro-blogging platform, from 'free speech' to amaking its algorithms 'open source'. Agrawal has earlier said that "Twitter has a purpose and relevance that impacts the entire world". In a leaked audio clip where Agrawal can be heard talking to employees post the acquisition, he said that Musk will soon address their concerns. "Once the deal closes, different decisions might be made. For us to gain insight into that, we'll be finding a way to have Elon talk with all of you at the soonest possible opportunity," he was quoted as saying. Agrawal had told employees that there would be "no layoffs at this time". On concerns over 'free speech', Agrawal said: "To best gain perspective on this - we'll find ways to bring Elon in for a Q&amp;A with all of you". Musk's takeover bid for Twitter remains subject to shareholder and regulatory approval. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ola-may-be-rushing-into-electric-cars-when-scooters-continue-to-underperform/articleshow/91141264.cms">Is Ola hurrying into its electric car dream?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/adani-enterprises-sets-up-a-wholly-owned-media-arm/articleshow/91128727.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/google-expected-to-announce-the-pixel-6a-pixel-watch-and-android-13-in-i/o-2022/articleshow/91141500.cms">Google I/O 2022 – Pixel 6a, Pixel Watch, Android 13 and everything we expect to see</a>

Twitter CEO Parag Agrawal says will continue to change Twitter ‘despite the noise’

New Delhi, Mar 8 () Vogo, a bike and scooter sharing start-up, is working on increasing the number of vehicles on its platform to about one lakh as it aims to more than double its revenue run rate to USD 120 million in the next one year. The Ola-backed company, which operates in Bengaluru, Hyderabad and Mysore, is also betting on electric mobility and aims to have 20 per cent of its fleet as EVs. "In the last 12 months, we have scaled the number of vehicles on the platform from 200 to 20,000 and the plan is to increase this further to one lakh in the next 12 months," Vogo CEO Anand Ayyadurai told . He further said the company will deepen its presence in Bengaluru and Hyderabad, and is also exploring entering cities like Ahmedabad and Vijayawada. "This will be towards the end of the year," he said, adding the company currently has about 20,000 vehicles across 500 spots. Founded in 2016, the company recently raised USD 19 million (around Rs 136 crore) in a funding round led by LGT Lightstone with participation from existing investors like Matrix Partners and Kalaari Capital. Vogo had previously raised money from ride-hailing firm Ola and Stellaris Venture Partners. In December 2018, it had formed a strategic partnership with Ola to boost Vogo's supply by putting in one lakh scooters on its platform. Talking about its electric mobility plans, Ayyadurai said EVs form a big part of the company's focus. "Currently, the number is small, about 200 but over the next three years, as we scale to about 3 lakh two-wheelers, we expect about 20 per cent of them to be electric vehicles," he added. He said the company's current average revenue run rate is about USD 50 million and Vogo expects this to grow to USD 120 million in the next 12 months. "In the next 24 months, we would want to hit profitability," he added. Asked about recent layoffs, Ayyadurai said the company has been working on ensuring that Vogo is a low-friction platform. "Over the last 6-9 months, we have been able to automate our entire fleet. So users can come and using their phones, get access to bikes. We don't need someone manning the docks anymore. New features that we now build in will be incremental in nature and wouldn't really need us to start from scratch. Therefore, we undertook a restructuring and about 40 people were let go from the IoT team and a few other roles were shed," he said. He added that the company now has about 260 people. "However, we continue to hire in business development and software engineering roles," he said. SR KPM ABMABM

You Searched For "Ola Electric layoffs" and got 6 results

Ola Electric cuts 500 jobs across verticals

PTI

Layoffs begin at Ola, 200 employees to be impacted by restructuring exercise

IANS

10 million people tried Ola for the first time last fiscal year, says CEO Bhavish Aggarwal

Kritti Bhalla

Charging infra improvement can reduce range anxiety for EVs: Tata Motors MD

ANI

Twitter CEO Parag Agrawal says will continue to change Twitter ‘despite the noise’

IANS

Vogo eyes revenue run rate of USD 120 mn, bets big on EVs

PTI

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