In the wave of global technological innovation, El·on Musk (Elon Musk) has become a leader in the electric vehicle industry with his forward-looking vision and disruptive technological innovation. In distant India, there is also an entrepreneur who is writing a new chapter of electric mobility in his own way, he is Bhavish Aggarwal, who was named "India Musk" by the India media, making small electric donkeys, self-developed chips, and laying out AI, and is an entrepreneurial star in the India technology industry.
Ola Electric, the India company founded in 2017, has made the leap from scratch in just a few years and is the largest electric two-wheeler manufacturer in India by 2024. The company's market capitalization soared to $7 billion this fall, making it one of the top 10 electric two-wheelers in the world.
In India, electric two-wheelers are growing faster than electric vehicles, mainly due to several key factors. First of all, the charging infrastructure requirements for electric two-wheelers are relatively simple, and there is no need for a large-scale network of charging stations like electric vehicles, and ordinary household sockets can meet the charging needs, which greatly reduces the initial investment cost. Second, the acquisition and maintenance costs of electric two-wheelers are relatively low, which is more suitable for the vast number of low- and middle-income groups in India. Moreover, electric two-wheeled vehicles are more suitable for India's congested urban traffic environment due to their flexible and convenient characteristics, which can effectively alleviate traffic congestion and improve travel efficiency.
The reason why Bhavish Aggarwal is called "Musk of India" by the outside world is not only because of his achievements in the field of electric vehicles, but also because of his entrepreneurial spirit of daring to dream and explore. Similar to Musk, he has a strong interest in artificial intelligence, autonomous driving technology and chip research and development, and is committed to applying these cutting-edge technologies to Ola Electric's products to improve the intelligence level and competitiveness of products.
With his strong self-confidence and bold style, this "India Musk" has become one of the representatives of India's technology entrepreneurship. His courage to challenge convention and pursue innovation is a trait that has been fully reflected in his entrepreneurial journey. For example, after founding Ola Cabs, which was a notable success in the India ride-hailing market, he set his sights on electric vehicles, founding Ola Electric, and working to establish itself as the world's leading electric vehicle brand. In addition, it has also made artificial intelligence large models and self-developed AI chips.
Bhavish Aggarwal had made a bold statement two years ago that he planned to produce 1 million electric vehicles and 10 million electric two-wheelers a year, but in the face of actual market demand and the company's long-term development, Ola Electric had to make strategic adjustments. According to the latest reports, Ola Electric has decided to abandon the electric vehicle project and instead focus on the development and production of electric scooters and motorcycles. Although it is the largest electric two-wheeler manufacturer in India, it actually accounts for only 1.5% of the global market share and has been losing money for three consecutive years.
Previously, it was reported that Musk would cancel plans to build a Tesla factory in India. Bhavish Aggarwal wrote on social media: "If true, this is Tesla's loss, not India's. ”