Ola Electric Mobility Limited , India's leading electric vehicle (EV) manufacturer, is set to host its annual 'Sankalp' event on August 15, 2025, at its state-of-the-art Gigafactory in Krishnagiri. This year's event, dubbed 'Sankalp 2025', marks a significant milestone as the first public event to be held at the company's Gigafactory, which is touted as India's first lithium-ion cell manufacturing facility.

'India Inside' Vision

The highlight of Sankalp 2025 will be the unveiling of Ola Electric's 'India Inside' vision, encompassing the company's products and technologies. This initiative is expected to showcase Ola's commitment to indigenous innovation and manufacturing in the EV sector.

Event Details

Sankalp 2025 will be live-streamed on Ola Electric's official channels, allowing a wider audience to participate in this landmark event. The company has promised to reveal more details about the event in the coming days, building anticipation among investors, industry watchers, and EV enthusiasts.

Ola's Growing Presence

Ola Electric has been rapidly expanding its footprint across India. The company currently operates over 4,000 stores nationwide, establishing itself as the largest company-owned network of automotive experience centers in the country. This extensive network, coupled with a robust online presence, underscores Ola's direct-to-customer distribution strategy.

Research and Development

Ola's commitment to innovation is evident in its global R&D operations. The company maintains research and development facilities not only in India but also in the United Kingdom and the United States. These centers focus on developing innovative EV products and core components, reinforcing Ola's position at the forefront of the electric mobility revolution.

Vertical Integration

Ola Electric specializes in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. The Ola Futurefactory in Tamil Nadu, where the Sankalp 2025 event will take place, is developing into India's most significant EV hub. This facility is complemented by the Bengaluru-based Battery Innovation Centre (BIC), which is dedicated to advancing cell and battery technology.

Leadership's Perspective

In a recent tweet, the Founder and CMD of Ola Electric Mobility Limited emphasized the importance of self-reliance, stating, "Time to stand on our feet and strengthen ourselves!" This sentiment aligns with the company's focus on indigenous development and manufacturing in the EV sector.

Sankalp 2025 is poised to be a pivotal event for Ola Electric, potentially setting the stage for the next phase of growth and innovation in India's electric vehicle industry. As the event approaches, all eyes will be on Ola Electric to see how its 'India Inside' vision will shape the future of electric mobility in the country.

Ola Electric Mobility Ltd , a prominent player in India's electric vehicle market, is exploring high-yield debt financing options to bolster its working capital amidst a challenging business environment. The company has initiated preliminary discussions with lenders to raise approximately ₹1,000 crore ($116 million) through this financing route.

Potential Financing Terms

According to sources familiar with the matter, the proposed debt financing could have the following characteristics:

Market Challenges

The company's move to seek high-yield debt comes against a backdrop of significant market challenges:

• Share Price Decline: Ola Electric's shares have experienced a sharp decline of about 50% this year
• Market Share: The company has faced a declining market share following its Initial Public Offering (IPO)
• Product Issues: Scooter fire incidents have impacted the company's reputation and sales

Founder's Actions

In response to these challenges, Ola Electric's founder, Bhavish Aggarwal, has taken steps to shore up investor confidence:

• Increased Collateral: Aggarwal reportedly paid about ₹20 crore in cash to increase collateral for share-backed borrowings

Company Response

When approached for comment, an Ola Electric spokesperson provided a measured response:

• Described the working capital raising as a routine business practice
• Declined to provide further comments on the ongoing discussions

This potential high-yield debt financing move by Ola Electric underscores the challenges faced by the electric vehicle sector in India, particularly for companies navigating the post-IPO landscape amidst product-related concerns and intense market competition.