IPO-bound Ola Electric appoints ex-Byju's executive Jitesh Shah to head after-sales

IPO-bound EV maker Ola Electric has onboarded Jitesh Shah, previously a senior executive at Byju's, as the head of its after-sales service division.

Shah, who has a rich background with Byju’s, where he was instrumental in leading the exam prep and Aakash digital businesses, brings a wealth of experience to Ola Electric at a crucial time. His appointment is aimed at bolstering the company's after-sales services, charging network, and overall customer experience.

The development follows an ET report claiming that the Bhavish Aggarwal-led EV maker is preparing to introduce its electric autorickshaw, likely named 'Raahi,' later this month. However, the company has made no announcement regarding this.

Focused on aggressive expansion

Under Shah's leadership, Ola Electric will focus on aggressive expansion of its service network and charging infrastructure. Notably, The startup has planned to increase its fast-charging stations to 10,000 by the end of the next quarter and expand its service centre network from 400 to 600 by April 2024. 

The expansion is part of Ola Electric's broader strategy to enhance customer satisfaction and maintain its market share in the competitive electric two-wheeler market.

Executive team restructuring

Ola Electric's strategic hiring comes amidst a broader organizational reshuffle aimed at strengthening its governance and operational capabilities ahead of its public offering.

The company has recently appointed new independent directors and made key executive appointments, including a new Chief Financial Officer (CFO) and Chief Technology Officer (CTO), among others. 

How well Ola Electric is performing financially?

Despite facing a widening net loss of Rs 1,472 crore in the financial year ending March 2023, Ola Electric reported a 510% increase in consolidated revenue, reaching Rs 2,782 crore in FY23. The company sold 33,722 units in February alone, securing a 41% market share.