Bhavish Aggarwal, the dynamic CEO of Ola, has just set the stage for what might be the most ambitious week in the history of Indian business. Speaking at the Network18 Green Bharat Summit, Aggarwal casually dropped a bombshell: Ola Electric will open 4,000 EV stores by December 20.
If that sounds impossible, Aggarwal doesn’t think so. With an air of unshakable confidence and a touch of humor, he told the audience, “On a scale of 1 to 10, how confident am I? Eleven.”
This isn’t just about a numbers game, though. It’s about something bigger something monumental. It’s about redefining India’s role in the global fight against climate change and making electric vehicles a reality for millions of Indians in record time.
“We’re Just Getting Started”
Aggarwal’s energy was infectious as he addressed the crowd, apologizing for not being there in person. “I spent the entire day at our factory,” he explained. “We’ve got to build this.”
And by “this,” he means more than just stores. It’s about access, affordability, and ambition. “The EV journey in India is at a critical inflection point,” Aggarwal said. “This isn’t just about reaching big cities. People in small towns and villages want EVs too. They’ve been asking us to open shops in their areas. We’re making that happen.”
At the moment, Ola Electric operates 800 stores. Growing that to 4,000 in just a week is a logistical nightmare for most companies but Ola thrives on disruption. “We’ve got 3,000 construction sites active across the country,” Aggarwal revealed. “We’re running toward the goal.”
Why it Matters?
Aggarwal’s vision goes beyond the Indian market. For him, electrifying India is a global necessity. “Climate change is the defining challenge of our generation,” he said. “The world can’t solve it without India. We’re 20% of the global population, and our role in building green technologies will shape the planet’s future.”
Aggarwal believes India can become the world’s largest EV hub, producing vehicles, lithium cells, and components not just for local consumption but for export to the Global South. “India’s strength is its ability to build affordable, high-quality solutions at scale,” he said.
The Subsidy Debate
One of the summit’s key conversations revolved around the role of government subsidies in EV adoption. Union ministers have suggested that the industry should move away from relying on subsidies. Surprisingly, Aggarwal agreed.
“Consumers don’t need EV subsidies anymore,” he said, noting that demand has grown strong enough to sustain the industry. However, he emphasized the importance of government schemes like the Production Linked Incentive (PLI), which supports local manufacturing.
Ola Electric has fully embraced localization, producing its own battery packs, motors, and software. “Vertical integration is the winning strategy,” Aggarwal explained. “It’s how we maintain margins and innovate faster than anyone else.”
Behind the Scenes – The Gigafactory
If there’s one symbol of Ola Electric’s ambition, it’s the company’s Gigafactory, which produces thousands of lithium cells daily. Located near Bangalore, this facility is the heart of Ola’s operations.
“We’re testing our cells rigorously high temperatures, high-speed charging, everything,” Aggarwal said. The factory is already powering Ola’s EVs, and Aggarwal envisions it becoming a platform for India’s tech ecosystem.
“Think about it, drones, power tools, medical devices, consumer electronics. All of these need lithium cells, and today we import them. We’re changing that.”
The Race Against Time
As the countdown to December 20 continues, one question looms large: Can Ola Electric actually pull this off? For Aggarwal, failure isn’t an option.
“My team works harder than I do,” he said with a laugh. “They’re driven by purpose, by the idea of building something bigger than themselves.”
Aggarwal isn’t just focused on the here and now. He’s planning for the next year, which he promises will be a game-changer for Ola Electric. “We’re launching one product every month in 2025,” he said, listing motorcycles, scooters, and auto-rickshaws as part of the lineup.
His ultimate goal? To make EVs so compelling and so affordable that they replace petrol vehicles entirely.
The Bigger Picture
What drives Aggarwal isn’t just market share or revenue. It’s the opportunity to redefine India’s future. “India has a once-in-a-generation chance to lead the global green revolution,” he said. “We’re not just competing with other companies. We’re setting the standard for what’s possible.”
And for Aggarwal, the stakes couldn’t be higher. “Being a publicly listed company brings a deeper sense of responsibility,” he said. “We owe it to our shareholders and to the people of India to deliver on this vision.”
Watch the complete Green Bharat Summit Here:
