Ola Electric’s Chief Technology Officer and Chief Marketing Officer have resigned from their positions with immediate effect, the company informed

Ola Electric, the maker of electric two-wheelers, announced in a regulatory filing that its Chief Product and Technology Officer, Sovonil Chatterjee, and Chief Marketing Officer, Anshul Khandelwal, have resigned from their positions.

Chatterjee, who initially joined the company as head of design six years ago, has played a crucial role in the development of key products like Ola Krutrim and Ola Maps. He was promoted to Chief Technology and Product Officer in 2021.

Khandelwal, who joined the board in 2019, served as Head of Marketing and Revenue at Foodpanda before it was acquired by Ola in 2020. He later moved on to be the Head of Marketing at Ola Foods and eventually rose through the ranks to take on the role of Head of Marketing at Ola Ola Foods. Position of Chief Marketing Officer at Ola Electric.

Last month, Ola Group’s Chief People Officer N Balachandar resigned from his position.

In November 2024, Ola Electric unveiled a major restructuring effort affecting at least 500 employees. The move follows two previous restructurings in September 2022 prior to the company’s initial public offering, during which new appointments were announced. The goal was to centralize and simplify operations in various sectors.

The latest departures occurred shortly after Ola Electric unveiled plans to significantly expand its retail and service network, growing from 800 to 4,000 stores nationwide.

On November 8, Ola Electric announced a narrowing of net loss in the second quarter, attributed to higher sales and lower raw material costs. The company, headquartered in Bengaluru, said its consolidated losses narrowed to Rs 495 crore in the July-September period from Rs 524 crore in the previous year.

Shares of Ola Electric rose as much as 6% to hit a high of Rs 99.9 on Thursday after announcing the opening of more than 3,200 new stores co-located with service centres. The move marks the largest expansion of electric vehicles in India in one go.

Despite a 30% increase in the last month, Ola Electric stock has seen an 8% decline in the last three months.

India’s leading electric vehicle company has now expanded its presence to 4,000 stores nationwide, allowing wider reach into towns and districts across the country, including outside Tier 1 and Tier 2 cities.

Ola Electric has just released a range of new scooters, which include the Ola Gig, Gig+, S1 Z and S1 Z+ models. Prices start at Rs 39,999, catering to the diverse needs of users in urban, semi-urban and rural areas. These scooters feature rugged designs, removable batteries and flexible solutions. Deliveries of these models are scheduled to begin in April-May 2025, and bookings are currently available for INR 499.