Ola Electric bolsters profitability drive, cuts warehouses, optimises costs

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Ola Electric bolsters profitability drive, cuts warehouses, optimises costs - Business Standard

Quick Summary:

Ola Electric is redesigning its distribution network and optimizing vehicle registration process as India's largest electric two-wheeler maker chalks out roughly Rs 30 crore monthly savings in an accelerated profitability drive.

Ola Electric has eliminated its regional warehouses across India, and will now leverage its 4,000 retail stores nationwide for maintaining vehicle inventory, spare parts, accessories, and last-mile deliveries.

The strategic move is expected to boost EBITDA margins by almost 10 percentage points, besides improving inventory management and faster customer deliveries, sources directly familiar with the matter said.