'Never bought a single..': Ola CEO Bhavish Aggarwal on how he spends money

Ola CEO Bhavish Aggarwal recently reflected on his journey with the company and shared his future ambitions during Business Today's 'India at 100' event. He expressed a deep attachment to Ola, describing it as his "first love." Despite the company's growth into various sectors, including Ola Electric and the AI venture Krutrim, Aggarwal emphasized that his connection to the original Ola Cabs business remains strong.

Over the years, Ola has naturally evolved, leading to new ventures, especially in electric vehicles (EVs) and artificial intelligence (AI). Aggarwal highlighted that these expansions position Ola to influence the future of both industries significantly. He noted that Ola Electric is focused on making India a global leader in the EV market. This reflects his broader vision for the company, which aims to not just participate in the industry but to be a frontrunner in driving change.

When discussing Ola's transition to public markets, Aggarwal acknowledged the increased responsibility that comes with handling the investments of everyday citizens. He emphasized the importance of making careful, value-driven decisions that balance short-term performance with long-term strategic goals. This approach, he believes, is crucial in maintaining trust and ensuring sustainable growth.

Aggarwal also spoke about Ola Electric's global ambitions, drawing a comparison with Tesla. He pointed out that while Tesla caters to a market of about 1 billion affluent customers, Ola Electric is focused on serving the rest of the world. This mission underscores Ola's commitment to providing affordable and accessible electric vehicles to a broader audience.

Introducing Ola’s latest venture, Krutrim, Aggarwal explained that it is dedicated to developing an AI technology stack within India. He stressed the importance of this initiative in the context of the global tech industry, where data control is becoming increasingly critical. Aggarwal warned against "data colonialism," noting that while India generates 20% of the world's data, only 10% of that data remains in the country. This imbalance, he argued, could lead to significant challenges in terms of data sovereignty and control.

Overall, Bhavish Aggarwal’s comments highlight his commitment to innovation and growth while maintaining a strong sense of responsibility to both his company and the broader Indian market. Through ventures like Ola Electric and Krutrim, he envisions a future where Ola not only continues to succeed but also plays a pivotal role in shaping the global tech and automotive landscapes.

 

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