News Desk
LUDHIANA, India — In the bustling northern city of Ludhiana, where the hum of scooters fills the air, Bhavish Aggarwal was born into a world of ambition and tradition. Raised in a prominent Bania family, part of India’s historically affluent merchant caste, Aggarwal seemed destined for business. “I am a Bania,” he once said with a smile, nodding to the entrepreneurial spirit he believes runs in his blood. Today, at 39, he is the billionaire CEO of Ola Electric, India’s largest electric vehicle company, and a man whose vision is reshaping how a nation of 1.4 billion moves.
Aggarwal’s journey began not with electric scooters but with gas-powered taxis. A graduate of the prestigious Indian Institute of Technology in Bombay, he briefly worked at Microsoft before taking a leap in 2010 to found Ola Cabs. The ride-hailing startup quickly became India’s answer to Uber, drawing hefty investments from global players like SoftBank’s Masayoshi Son. Ola’s success was a testament to Aggarwal’s knack for spotting opportunity in a country where mobility is both a challenge and a necessity.
Yet Aggarwal’s ambitions stretched beyond taxis. In 2017, he launched Ola Electric, a bold pivot toward sustainable transport. India, the world’s fifth-largest economy, is a nation of two-wheelers, with some 250 million people relying on scooters and motorcycles. Aggarwal saw a chance to electrify this vast market. “Just like the revolution that gave us our freedom in 1947, this one will give us our freedom from petrol,” he declared at Ola Electric’s 2021 launch, his words capturing the patriotic fervor that has become his hallmark.
Often compared to Elon Musk, Aggarwal shares the Tesla CEO’s flair for bold statements and social media spats. He has praised Prime Minister Narendra Modi’s Hindu nationalist vision while positioning Ola as a global alternative to Western giants. “Tesla is for the West; Ola is for the rest,” he has said, a mantra that resonates in a country eager to assert its technological prowess. His charisma and relentless drive have earned him both admirers and critics, with some calling him a visionary and others noting his demanding leadership style.
Ola Electric’s rise has been meteoric. Between 2022 and 2024, the company sold nearly 800,000 scooters, capturing a third of India’s electric scooter market. Its August 2024 IPO was a milestone, making Aggarwal one of India’s youngest billionaires. But success has come with turbulence. Safety concerns, high-profile crashes, and stiff competition have dented Ola’s share price, which has fallen by a third since its peak. A public feud on X with a comedian over after-sales service sent stocks tumbling further in October 2024, revealing the risks of Aggarwal’s combative online presence.
Those who have worked with him describe a leader of contradictions. “Bhavish is brilliant, a problem-solver who thinks in systems,” a former senior executive was quoted in the media. “But he can be intense—micromanaging, impatient.” Stories of Aggarwal throwing pens or smashing laptops to make a point circulate among former colleagues, as does talk of high turnover among senior staff. “He’s driven by these massive goals,” another ex-executive said. “‘Be the fastest, the biggest, the one to define the electric revolution.’ That’s what fuels him.”
Yet some say Aggarwal’s focus can waver. Even as Ola Electric rolled out new scooter models in March, the company announced plans to cut over 1,000 jobs amid projected losses. Meanwhile, Aggarwal has turned his attention to Krutrim AI, a new venture he describes as a ChatGPT-like model infused with “Indian cultural sensibilities.” It’s a move that has raised eyebrows, with some wondering if he’s spreading himself too thin.
In Ludhiana, where Aggarwal’s story began, the streets are alive with the promise of electric scooters zipping past. For many, Ola Electric represents more than a company—it’s a symbol of India’s potential to lead in a greener, tech-driven future. Aggarwal, with his relentless ambition and unapologetic patriotism, embodies that hope. Whether he can navigate the challenges ahead will determine not just his legacy, but the trajectory of India’s electric dreams.
