Ola Electric: New Finance Chief Takes the Wheel

Ola Electric, a major player in India's electric two-wheeler market, has a new leader in charge of its money matters. Deepak Rastogi is stepping in as the new Chief Financial Officer (CFO), starting January 20. He's coming from Puravankara, where he was the top finance guy. This move comes after Harish Abichandani, who had been leading Ola Electric's finances since late 2023, decided to move on.Under Abichandani's watch, Ola Electric made a big splash with its initial public offering (IPO) in 2024. But things haven't been smooth sailing since then. Sales have been slowing down, and the company had to lower its revenue expectations for the fiscal year 2026 back in November. This isn't the only challenge Ola Electric is facing. Once a dominant force in India's e-scooter market, holding over half of it, Ola has seen rivals like Bajaj Auto and TVS Motor catch up. These competitors have been expanding their reach and offering similar products at competitive prices. Rastogi has his work cut out for him. He'll need to navigate these challenges and help Ola Electric regain its footing in the market. It's a tough job, but with the right strategies, he might just steer the company back on track.