Ola CEO Bhavish Aggarwal announces plan to launch electric sports car

"We are going to develop the sportiest automobile ever made in India!" said the tech titan on the microblogging site Twitter. Aggarwal also posted a video on the site in which he tried the Moods feature in the future MoveOS 3 upgrade.

Bhavish Aggarwal, the founder and CEO of Ola, has stated that his business is going to launch a new electric sports vehicle for Indian consumers. Aggarwal also described the imminent MoveOS 3 upgrade for the S1 line of electric scooters in a series of tweets.

Aggarwal recently took a step back from day-to-day operations to focus more on engineering activities, team building, and products, in addition to long-term strategic objectives like two-wheelers, autos, and breakthroughs in rapid commerce and worldwide growth. Other key initiatives include cell research and development (R&D), the construction of the Pune tech centre, and Futurefoundry UK.

"We are going to develop the sportiest automobile ever made in India!" said the tech titan on the microblogging site Twitter. Aggarwal also posted a video on the site in which he tried the Moods feature in the future MoveOS 3 upgrade.

In another tweet, the platform's creator and CEO stated that the next upgrade is planned for Diwali. 

"MoveOS 3 will be available to everyone on Diwali this year. If you thought MoveOS 2 was intriguing, wait until you see MoveOS 3," Aggarwal took to Twitter.

"Hill hold, proximity unlock, moods, regen v2, hypercharging, calling, key sharing, and a slew of other new features! Ola Engineering should be proud of itself for delivering world-class technology at a rapid pace!," he added.

Meanwhile, according to a recent source, Ola is aiming to lay off up to 500 staff across departments in order to cut expenses and simplify operations in the midst of the continuing financing winter. According to reputable sources, SoftBank-backed Ola has instructed top executives to identify people in their teams who can be asked to leave based on performance. To maintain its "high profitability," the corporation is apparently considering "leaner and consolidated teams."

Ola Electric has stated its intention to become a vertically integrated electric mobility company in both the two-wheeler and passenger car categories. According to a Kotak Institutional equities study, the business assesses the potential size at $1 trillion at a volume of 155 million units.

The business intends to release a slew of new EV vehicles, including scooters, motorbikes, cars, and SUVs. This involves introducing a mass scooter by the end of CY2022 and a luxury motorbike in CY2023. The general market version and sports motorbike would follow.