Electric scooter manufacturer Ola Electric Mobility Limited has announced the resignation of two senior management personnel, Anshul Khandelwal, Chief Marketing Officer, and Suvonil Chatterjee, Chief Technology and Product Officer, with immediate effect.
In a stock exchange filing, Ola Electric cited that both executives stepped down for personal reasons, and their resignations were formally accepted on December 27.
“It has been an incredible journey, and I am grateful for the opportunities to contribute to Ola’s inspiring vision. I carry a deep sense of pride in being part of Ola Electric and wish the team continued success,” said Khandelwal.
The duo joined several departures of top-level executives at the Ola Group. In October, Ola Electric’s Secretary and Compliance Officer resigned, citing personal reasons and commitments.
The development comes soon after the announcement of 3,200 new stores by Ola Electric. The expansion will span beyond metros and tier I and II cities into smaller towns and tehsils.
In Q2, Ola Electric reported a 26% drop in operating revenue to Rs 1,214 crore, down from Rs 1,644 crore in Q1 FY25. Despite this, the company saw a 39% year-on-year revenue increase from Rs 873 crore in Q2 FY24. Ola Electric recorded a net loss of Rs 495 crore for the September quarter.
As of November, Ola Electric held a 24.5% market share, while TVS Motor and Bajaj Auto remained in close competition with 23% and 22%, respectively.
At the end of market closures, Ola Electric’s shares were trading at close to Rs 90.
Vishal Gawai
Verified JournalistVishal Gawai is the founder of TheIndiaBizz, a media and information platform in India that offers in-depth coverage of the country's startup ecosystem.
