New Delhi, Aug 22 (PTI) Newly-listed Ola Electric has laid out a roadmap to profitability banking on higher volume, vertical integration of supply chain and in-house produced cells, while it has shelved plans to make electric car, according to company founder and CMD Bhavish Aggarwal. The company, which forayed into the electric motorcycle segment last week, will build products that Indians need, which are by a vast majority two-wheelers and three-wheelers, he said in an interaction with PTI editors at the agency's headquarters here. In the first quarter of this fiscal, Ola Electric's automotive segment EBITDA was almost break-even but for a one-time reversal of about Rs 30 crore it had to pay for a change in standard operating procedure in the government for PLI rules, he said, adding the cell segment is at a different stage of evolution.

Ola Electric's net loss widened in the first quarter to Rs 347 crore, from Rs 267 crore in the corresponding period a year ago. In FY24, the company's net loss was at Rs 1,586 crore. "We have shown that even with fast growth, even with investing in 'penetration', you can improve margins.

Now, there is a roadmap to profitability from EBITDA to PAT. We have two or three strategies, which we are continuing to execute on, which will deliver improving margins over the subsequent quarters," Aggarwal said. He was responding to a query on Ola Electric's roadmap to profitability, as it remains a concern despite the company's share price almost doubl.