The business said that being a “vertically integrated mobility firm” is its main goal and that it is consolidating activities to create a framework that would support pertinent responsibilities and functions.
In order to decrease redundancies in its two primary operations, ride-hailing and the manufacturing of electric vehicles, India’s Ola will eliminate roughly 200 engineering positions, the SoftBank Group-backed company announced on Monday.
According to the business, it is concentrating on becoming a “vertically integrated mobility firm” and is centralising operations to create a framework that will support pertinent responsibilities and tasks.
In order to achieve this, Ola stated it would increase its engineering team from its present level of roughly 2,000 to 5,000 over the course of the next 18 months as part of a “influx of hiring” for positions in vehicle engineering, sourcing, product management, and data science.
“Ola is building on common capabilities and synergies across functions as it strengthens its play across two-wheelers, four-wheelers, cell research and manufacturing,” the company said in a statement.
Ola began producing e-scooters last year and intends to start making electric automobiles in 2024. Ola edged out Uber Technologies to win the dominant share of India’s ride-hailing business.
However, Ola had to recall more than 1,400 of the scooters earlier this year after one of them caught fire, drawing attention to its scooter business.
Additionally, the company delayed its intention to list on the stock market in the first half of this year, presumably as a result of market instability and the underwhelming offerings of other domestic start-ups.