BHAVISH AGGARWAL NEWS
Can AI fix your credit score? Krutrim shuts down assistant Kruti
Happy Thursday! Fintechs are building AI solutions to help boost the creditworthiness of borrowers. This and more in today’s ETtech Morning Dispatch.
Tata to probe TCS Nashik case; Sharon Pais takes over Myntra
Tata Sons chairman N Chandrasekaran has ordered a probe into the sexual harassment case at TCS Nashik. This and more in today's ETtech Top 5.
From setbacks to second wind, what next for Ola and Bhavish Aggarwal?
Ola Electric is struggling to revive its position after a sharp fall in market share, financial stress and operational challenges. Founder Bhavish Aggarwal has shifted focus to fixing service issues and pushing aggressive price cuts and battery-led growth, even as competition from established players intensifies.
TCS Q4 drags down IT stocks; Swiggy cofounder exits
Shares of IT companies declined on Friday as TCS earnings failed to lift investor sentiment. This and more in today’s ETtech Top 5.
TCS Q4 beats expectations; UP girl makes Y Combinator history
TCS reported strong Q4 results, driven by robust performance in North America and a weak rupee. This and more in today's ETtech Top 5.
Ola Electric shares surge 10%, market value soars by Rs 1,300 crore. What sparked today's rally?
Ola Electric shares surged after announcing its in-house developed LFP cell is ready. This development is expected to make electric vehicles cheaper and accelerate their adoption. The new cell will be integrated into Ola products starting next quarter. The company's Gigafactory is also scaling up, with thousands of vehicles already on Indian roads.
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PhonePe IPO freeze & its impact; Startup Mafia 3.0
Happy Tuesday! PhonePe has deferred its IPO, signalling a broader chill in startup listing plans. This and more in today’s ETtech Morning Dispatch.
Ola Electric loses speed; AWS ops in Middle East hit
Ola Electric dropped from the top five in EV two-wheeler market share for February. This and more in today's ETtech Top 5.
Google CEO interview; Sarvam's launch day
Before his India visit, Google CEO Sundar Pichai spoke to ET about Alphabet's AI investments, Gemini plans and others. This and more in today's ETtech Top 5.
Ola Electric shares rebound 5% after 11% fall in 4 sessions. What’s driving the surge and should you buy?
Ola Electric Mobility shares rose after the Bombay High Court stayed an arrest warrant issued against CEO Bhavish Aggarwal, easing investor concerns following the stock’s recent four-session decline.
Balancing AI and copyright; Adani's $100B bet
Day 2 of the India AI Impact Summit featured additional announcements, sessions, and policy discussions focused on emerging technology. This and more in today's ETtech Top 5.
Domestic investors eye global equities; General Catalyst’s India playbook
Happy Wednesday! Indian investors are increasingly buying stocks in international markets. This and more in today’s ETtech Morning Dispatch.
Bhavish Aggarwal raises loans by pledging 25% more Ola Electric shares. Should investors be worried?
Ola Electric chairman Bhavish Aggarwal has further pledged his company shares. This is the third time he has used Ola Electric stock to finance a separate, private venture. This move raises questions about founder risk for shareholders. Ola Electric shares have seen a significant decline since its listing and following Aggarwal's previous pledges.
Ola Electric shares in focus after February sales added e-motorbikes, which haven't even hit the road yet
Ola Electric shares: The SoftBank Group-backed company informed India’s Ministry of Road Transport and Highways in a March 21 letter that its February sales record included customer bookings for 10,866 third-generation e-scooters and 1,395 Roadster X motorcycles, which it referred to as "confirmed orders."
Ola Electric shares drop 5% following report of raids and seizures over rule violations
Shares of Ola Electric Mobility dropped 5% to Rs 53.78 on Monday after a report revealed the company faced raids and seizures for alleged regulatory violations. Bloomberg highlighted that 95% of its showrooms lacked the necessary certifications under India's Motor Vehicles Act. Despite expanding to 4,000 stores, only around 100 out of 3,400 showrooms had proper trade certificates.
'Have self respect, don't fleece company': Amid job cuts, Ola CEO Bhavish Aggarwal warns employees over poor attendance. Read full letter
Ola CEO Bhavish Aggarwal addresses poor employee attendance. He warns of stricter measures starting Monday. Ola is also cutting 500 jobs to improve profitability. Meanwhile, Ola Electric plans major expansion. They aim to increase stores from 800 to 4,000 by December 2024. This expansion includes new service facilities.
"When will govt agencies intervene?", Kunal Kamra hits at Ola again, urges Nitin Gadkari to step in
Comedian Kunal Kamra called on Union Minister Nitin Gadkari to address poor Ola Electric scooters' conditions. Triggered by acomplaint from Solapur, Kamra highlighted customers' frustrations. Ola Electric reported resolving 99.1% of complaints after a notice from the Central Consumer Protection Authority, aiming to clarify issues regarding consumer rights and trade practices.
Ola Krutrim business head Ravi Jain quits
Ravi Jain has resigned from his position as business head of Krutrim AI, marking the first top-level exit from Bhavish Aggarwal's AI startup. Jain had been associated with Ola since 2021 and took on the role at Krutrim AI in mid-2023. This news follows recent leadership changes at Ola Electric, Aggarwal's major venture.
Ratan Tata ignited passion for EVs, inspired to set up Ola Electric: Bhavish Aggarwal
Ola Founder Bhavish Aggarwal reveals how Ratan Tata inspired the creation of Ola Electric, sharing moments from 2017 when Tata's passion for EVs led to the start of the venture. Tata's enthusiasm and guidance significantly influenced Aggarwal, who fondly recounts Tata's personal investment, love for animals, and final meeting discussing Ola Electric's IPO before his passing.
Ratan Tata ignited passion for EVs, inspired to set up Ola Electric: Bhavish Aggarwal
Bhavish Aggarwal revealed that Ratan Tata inspired him to start Ola Electric. Tata demonstrated his electric vehicle project to Aggarwal, sparking his interest. This began in 2017 and continued with Tata's mentorship and support. Tata's passing is a personal loss for Aggarwal, who admired his dedication and compassionate nature.
Ola Electric shares fall 4%, slip below Rs 100 for the first time since listing
Ola Electric, India's leading electric two-wheeler maker, announced plans to expand its service network and offer new customer benefits to boost EV adoption.
Ola Electric to double service centres to 1,000 by December: CEO Bhavish Aggarwal
Aggarwal also said the company plans to train 100,000 third-party mechanics by December 2025 to service EVs, roll out a guarantee of a backup Ola S1 scooter to customers whose service is delayed beyond a day, and deploy AI-powered maintenance and remote diagnostics to identify issues before they occur.
EVs across different categories will be at par or cheaper than ICE products soon: Bhavish Aggarwal
Bhavish Aggarwal of Ola Electric announced that their S1 X scooters are priced to compete with ICE scooters. Ola quickly went public and focuses on leading India's EV future through vertical supply chain integration. The company aims to achieve price parity between EVs and ICE vehicles soon, with ongoing advancements in lithium cell production.
Ola founder Bhavish Aggarwal becomes one of India's youngest billionaires after IPO
Aggarwal, 38, will add $1.2 billion to his wealth if his SoftBank Group Corp.-backed Ola Electric lists Friday in Mumbai at the lowest end of the price band at 72 rupees ($0.86) a share, giving the entrepreneur a net worth of $2.3 billion, according to the Bloomberg Billionaires Index. Ola Electric did not immediately respond to requests for comment on Aggarwal’s net worth.
Bhavish Aggarwal on Ola Electric IPO; direct commerce spikes
Happy Tuesday! Ola Electric founder and CEO Bhavish Aggarwal spoke to us on taking the four-year-old EV startup public. This and more in today's ETtech Morning Dispatch.
Ola boss Bhavish Aggarwal encourages Indian youth to wear kurta to office
Aggarwal staunchly defended traditional men's wear, arguing that its elegance made it ideal for formal settings.
Ola working on solid-state batteries, okay with govt tapering off EV subsidies
Ola Electric, led by Bhavish Aggarwal, revolutionizes electric vehicle batteries with cutting-edge technology. Partnering with Beijing Welion New Energy, they achieve a 1000 km range with innovative battery-swapping services. The industry anticipates electric aircraft powered by these advancements, cementing Ola Electric as a pioneering force in the EV sector.
Ola CFO Kartik Gupta steps down two weeks after CEO exit
Kartik Gupta, Ola's CFO since November 2023, is stepping down just two weeks after chief executive Hemant Bakshi left the firm.
Hope this 'pronoun illness' doesn’t reach India: Ola CEO Bhavish Aggarwal on gender pronouns
BJP spokesperson Pratul Shah Deo accused the Congress of involvement in black money operations after the Enforcement Directorate recovered over Rs 20 crore from the household help of Sanjiv Lal, Personal Secretary to Jharkhand Rural Development Minister Alamgir Alam, a Congress leader. Deo called for action from the Election Commission, suggesting that the large sum could be linked to attempts to influence ongoing elections. He emphasized the need for the swift arrest and interrogation of Alamgir Alam to uncover the source and intent behind the seized funds.
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