and eyeing an expansion to battery-powered motorcycles and cars. It intends to open-up its digital-only sales platform to rival automakers too.
Aggarwal envisions revamping the way the automotive market works by customising electric vehicles to expand the take-up of car and scooter sharing services; at present only 7% of the population uses them. He believes that lower running costs, from switching from petrol to battery power, will help more than triple domestic cars sales to 10 million units in the coming years as crunching data drives down financing and insurance costs.
Although the plan will require cooperation across industry silos, Ola and Ola Electric remain separate entities with SoftBank leading the partial investor overlap. It makes sense to keep businesses of differing capital intensity separate, but Aggarwal will have to find creative ways to extract value. Wall Street B-team arrives in D.C.
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