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Ola Electric Mobility Limited

Electric Vehicles (EV)Founded 2017
Reviewed by Swet Parvadiya
Company data updated: October 2026

Founders

Who Founded Ola Electric?

Bhavish Aggarwal · Founded 2017 · HQ today: Bengaluru, Karnataka, India

Who founded Ola Electric?

Ola Electric was founded by Bhavish Aggarwal in 2017. It is now led by Bhavish Aggarwal.

Founders
Bhavish Aggarwal
Founded
2017
Headquarters
Bengaluru, Karnataka, India
Number of founders
1
Current CEO
Bhavish Aggarwal (since 2017)
Where was Ola Electric founded?
Ola Electric was founded in Bengaluru, Karnataka, India in 2017.
When was Ola Electric founded?
Ola Electric was founded in 2017.
Who started Ola Electric?
Ola Electric was founded by Bhavish Aggarwal.
How old is Ola Electric?
Ola Electric is 9 years old as of 2026.

Founding Story

Ola Electric started in 2017 inside ANI Technologies, the parent of Ola Cabs, to pilot electric vehicles and charging for ride-hailing fleets. It became a separate company in 2019, raising capital from investors including SoftBank, and shifted focus to consumer scooters. In 2020 it bought Dutch scooter startup Etergo, whose AppScooter design became the basis of the Ola S1. The Futurefactory in Krishnagiri, Tamil Nadu, was built in 2021 and the S1 and S1 Pro launched on 15 August 2021.

Bhavish Aggarwal

Background

Bhavish Aggarwal holds a computer science degree from IIT Bombay (2008) and worked at Microsoft Research India before co-founding Ola Cabs in 2010.

Role at Ola Electric Mobility Limited

Bhavish Aggarwal is the founder, Chairman and Managing Director of Ola Electric and co-founder of ride-hailing company Ola Cabs. He started Ola Electric in 2017, oversaw construction of the Futurefactory in 2021 and took the company public in August 2024. He also founded AI company Krutrim in 2023. In September 2026 he said he would participate in Ola Electric's ~$116 million (₹1,000 crore) rights issue.

Bhavish Aggarwal was born in 1985 in Ludhiana. Education: Indian Institute of Technology Bombay.

Ola Electric Mobility Limited: CEO & Leadership History

Full timeline →

Bhavish Aggarwal

Founder, Chairman & Managing Director

2017 – Present

Founded Ola Electric, built the Futurefactory and gigafactory, and led the August 2024 IPO.

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Who Founded Ola Electric? FAQ

How did Ola Electric originate within ANI Technologies (Ola Cabs) in 2017?

Ola Electric was initially incubated in 2017 inside ANI Technologies (Ola Cabs) to pilot electric auto-rickshaws and EV cab fleets in Nagpur, Maharashtra; realizing that personal two-wheeler electrification represented a far larger market, Bhavish Aggarwal spun off Ola Electric as an independent entity in 2019.

How did the 2020 acquisition of Dutch EV startup Etergo shape Ola Electric's first scooter?

In May 2020, Ola Electric acquired Dutch electric scooter startup Etergo BV (creator of the AppScooter), completely re-engineering its European chassis, battery architecture, and electronics to withstand Indian tropical climates and rough road conditions, which became the hit Ola S1.

How did the Futurefactory break construction speed records in 2021?

Ola Electric acquired 500 acres of barren land in Pochampalli, Krishnagiri, Tamil Nadu, in early 2021, constructing the large Futurefactory, installing high-voltage substations, and commissioning automated assembly lines within an astonishing nine months.

What enduring founding mission drives Ola Electric?

The founding mission of Ola Electric is to 'End the ICE (Internal Combustion Engine) Age', accelerating the world's transition to clean electric mobility and positioning India as the global technology leader in electric vehicles and energy storage.

What educational background shaped Bhavish Aggarwal's technical ambition?

Bhavish Aggarwal graduated with a Bachelor's degree in Computer Science and Engineering from the Indian Institute of Technology (IIT) Bombay in 2008. He worked at Microsoft Research India, filing two patents, before launching his entrepreneurial career with Ola Cabs and Ola Electric.

How did early co-founders Anand Shah and Ankit Jain contribute to Ola Electric's inception?

Anand Shah (former Audi executive) and Ankit Jain led the initial electric mobility initiatives inside ANI Technologies in 2017, piloting electric rickshaws and charging stations before the business was formally spun out as an independent corporate entity.

How much equity does founder Bhavish Aggarwal retain in Ola Electric Mobility?

Following the August 2024 IPO, Bhavish Aggarwal retained an approximate 30% to 35% equity stake in Ola Electric, maintaining dominant voting control and strategic direction over corporate R&D and capital allocation.

What foundational engineering vision drove the creation of Ola Electric?

Bhavish Aggarwal founded Ola Electric with the conviction that India could skip the hybrid era entirely and become a global powerhouse in clean electric mobility, manufacturing indigenous vehicles and battery cells rather than relying on imported Chinese components.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.