CEO Bhavish Aggarwal thinks Ola Electric is on track for an early listing

OLA Electric founder Bhavish Aggarwal

Ola Electric Mobility Pvt. is poised to have an initial public offering earlier than expected, as reported by the Economic Times. Bhavish Aggarwal, the Founder and Chief Executive Officer of Ola Electric Mobility, expressed his surprise at the accelerated timeline, stating, "I thought it would take me four to six years of revenue to go public, but now I can feel that it will be much earlier."

The founder's statement highlights the rapid growth trajectory of the Indian startup since it commenced sales of electric scooters in late 2021.

According to data from the Society of Manufacturers of Electric Vehicles (SIAM) reported by the publication, Ola Electric has sold more than 239,000 electric scooters since December 2021 and holds a 38 percent share in India's electric-scooter market.

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Aggarwal plans to introduce a motorbike by the end of 2023 and a battery-powered car in 2024, although the timelines may be subject to change.

In addition, he intends to export scooters to Southeast Asia, Latin America, and Europe, which had been put on hold due to high demand in the Indian market.

Aggarwal also mentioned that his previous startup, ANI Technologies Pvt, which operates Ola ride-hailing services, had made progress in selecting banks for a $1 billion IPO in Mumbai, but the plans never materialized.

However, he did not provide specific dates for the launch of either of his companies.