The manufacture of Ola Electric’s “Roadster” electric bike, which the business unveiled in August of last year, has begun. Ola would like to notify its consumers that the firm has begun the assembly line of its future bike today, January 20, 2025, according to an exchange filing. Bhavish Aggarwal, the founder and CEO of Ola Electric, uploaded a video on X of himself riding the new electric bike at the company’s facility a day later on January 21. “Excited after riding the @OlaElectric Roadster!” was his caption for the video. I can’t wait for everyone to have this experience! In the footage, Aggarwal and a pillion rider were seen speeding through the company’s plant’s hallways. The company also displayed the electric bike at the Bharat Mobility Expo 2025 earlier this month, along with its other products, the Ola Gig and Ola S1 Z. Production has started more than five months after the listed firm unveiled “The Roadster Series” at its annual event on Independence Day last year.
Future Roadmap of Ola Electric
With prices starting at INR 74,999, the business announced the release of three new motorcycles under the Roadster X, Roadster, and Roadster Pro series. The bike in the video is probably a Roadster, which has a 13 kW maximum motor output and is available with 3.5 kWh, 4.5 kWh, or 6 kWh of battery. With a top speed of 126 km/h and a range of 248 km, the Roadster variant will cost between INR 1,04,999 and INR 1,39,999. When introducing its line of e-bikes, Ola Electric stated that the Roadster X and Roadster would start to be delivered in Q4 of FY25. The development coincides with the EV major’s recent months-long efforts to put out fires on several fronts. The Central Consumer Protection Authority (CCPA) is now investigating Ola Electric for alleged service and delivery delays, sales of defective vehicles, and other customer complaints.
Ola Electric Navigating Through Troubled Waters
The plea to revoke the CCPA’s notice was denied by the Karnataka High Court (HC) earlier this month. In addition, earlier this month, SEBI, the market watchdog, slapped the original equipment manufacturer (OEM) for breaking disclosure guidelines. Ola Electric’s stock has been declining as a result of the negative media coverage. The year-to-date (YTD) decline in the company’s shares is above 11%. The company led by Bhavish Aggarwal was able to reduce its consolidated net loss from INR 524 Cr in the previous quarter to INR 495 Cr in Q2 FY25, a 5.5% decrease. In the meantime, operational revenue increased by over 39% to INR 1,214 Cr in the reviewed quarter from INR 873 Cr in the second quarter of FY24. On the BSE, Ola Electric’s shares closed Tuesday’s trading session 0.2% lower at INR 76.24.
The Automobile Industry is one of the giants in the global economy. It has been around forever and has gone through its fair share of changes and innovations over the years, however, one of the most influential and sustainable innovations is that of Electric Vehicles.
And although this concept floated since its invention by Robert Anderson in 1832, it was put into the mainstream spotlight by Tesla in 2008 with its first Electric Car, the Tesla Roadster. No major company thought of taking up this concept before it was in many ways made cool by Tesla despite it being incredibly sustainable and way ahead of its time.
Many experts in the industry have speculated about the EV Concept and as a result, Automobile Industry as a whole would not have been such a hot topic if Tesla was not the driving force behind it.
Although Tesla has not seen a profitable year yet, it has had many profitable quarters and sticks to its vision of making Electric Vehicles affordable for almost everyone.
On 1 July 2020, exactly 17 years after its incorporation, Tesla became the world’s most valuable automaker with a market capitalization of $206 Billion, surpassing Toyota. But how did Tesla start? Who was behind it? What makes this futuristic company different from the rest? Where will it be after 10 years? Let us find the answer to these questions.
The founders of Tesla- Martin Eberhard and Marc Tarpenning
Originally known as Tesla Motors, Tesla was co-founded and incorporated on 1 July 2003 by Martin Eberhard and Marc Tarpenning. The influence behind Tesla was GM’s failed attempt at EVs in 2003 despite the vast potential and high efficiency of battery electric cars.
The third employee was Tom Wright and in February 2004, Elon Musk whose name today is almost synonymous with Tesla contributed $6.5 Million and became the chairman of the BOD. Martin Eberhard was appointed as the CEO and JB Straubel joined in May 2004. After a lawsuit settlement in September 2009, all three original employees can call themselves co-founders.
Tesla’s initial goal was to start the production of premium sports cars for early adopters and after securing a respectable customer base, move into the mainstream vehicles like sedans, Trucks, and luxury cars. The first car produced by Tesla was the Roadster in 2008.
Musk’s Four Round Investments
Elon Musk- the current CEO and the largest investor in Tesla
First Round
The Series A Investment in February 2004 included Company Technology partners along with different ventures and private investors.
Second Round
The second round investment was worth $13 Million and it included the addition of Valor Equity Partners to the funding team.
Third Round
The third round investment was co-led by Musk and various technology partners. It consisted of $40 million in May 2006 along with Tech Partners. This round also included investments from Google, and eBay among others.
Fourth Round
The fourth round of investment included another $45 Million in internal investment and the total investment went up to $105 million through private financing.
Marketplace and Stocks of Tesla
Tesla launched its initial public offering (IPO) on NASDAQ, the second American car company after Ford Motor Company to do so.
Tesla became the world’s second most valuable automaker with a market capitalization of $104 Billion and on 1st July 2020 the most valuable by reaching the milestone of $202 Billion.
Despite the above milestones, Tesla has not seen an overall profit in any financial year. At the end of 2019, it posted a loss of $862 Million on revenue of $24.6 Billion.
However, this fact is often overlooked as Tesla leans towards a societal concept rather than a profit-making one.
Different Strategies Implemented by Tesla
Business Strategy
Tesla follows a typical business strategy like the technological sector, i.e, targeting early adopters with a high price and gradually lowering the price as they move on to the bigger markets. For example, Tesla’s First model, Roadster was of a lower volume and higher price compared to Model X and Model Y.
Production Strategy
Like Musk’s other projects, Tesla’s production strategy includes high degrees of Vertical Integration which is rare in the automobile industry, as companies outsource most of the components from their suppliers.
Sales and Marketing Strategy
Instead of a conventional dealer network, Tesla opts to sell its vehicles online through company-owned showrooms. It offers the customers an option to customize their desired vehicle. Tesla does not rely on a heavy advertising policy Elon Musk with his massive Twitter following is an unofficial marketing manager.
Technological Strategies
Tesla relies on heavy electrical technologies to get its production done. As a vertically integrated company, they design batteries, motors, glass, and innovative models like Autopilots.
As of 2020, Tesla sells three car models, Model S, Model X, and Model Y.
The Unveiled models include Roadster 2020 and the highly awaited Cybertruck. These products have different versions to them based on affordability. Musk said that there will be more innovative models down the road which would be more affordable than the current ones.
The Journey of Tesla to Emerge as the World’s Most Successful EV Brand
There are several car manufacturing companies found across different parts of the World. However, when we talk about Tesla, it does stand out from the rest of the companies due to the initiation of something different.
Tesla is quite popular for its EV model cars which have created a path for Tesla to emerge as the World’s most successful brand.
To achieve this tag, Tesla made every step resourceful. Tesla brand was started with a sample model featuring cars with a high cost and few models. This invention was to just ensure that myth revolving around the EV cars can find their dissolving points. For the start, Tesla manufactured just 500 units in a year and was responsible for many revolutionary programs.
The next model introduced by Tesla was about changing the manufacturing units to a greater scale and on contrary, it decreased the price of the model. This model was a great way to give head-on competition to the other luxury brand models.
Tesla also connects directly with its customers rather than depending upon the franchisee network. Tesla sells its products directly to customers and has a web-type global network to get it settled as a global brand.
Tesla mainly focuses on the customer buying experience to get more recognition from people. Several showrooms and galleries are placed at multiple locations by Tesla to have a much-organized system.
Tesla Showroom
Apart from this, Tesla has a good marketing strategy and a well-developed plan to sell its brand. Tesla also has a good financing backup and a few well-known investors. All these things make it possible for Tesla to emerge as the World’s most successful EV brand.
How Tesla Is Dominating the Ev Industry?
We can assume that Tesla is dominating the EV industry based on the fact that the EV sales of Tesla are approximate 2.3 times higher than that of other brands as per Morgan Stanley analyst Adam Jonas. The rate of growth observed by Tesla in the EV industry is almost double that of any rival brand.
If we look at the Tesla market in the US, it is safe to say that the EV market in the US is highly dominated by Tesla for years now. For that instance, the EV cars of Tesla accounted for 79% of the overall rate of new cars registered in the US during 2020 and 69.95% of the newly registered car for the year 2021.
If to believe the available facts and data, it can be estimated that Tesla will still keep on dominating the EV industry for a few more years but with the condition of increasing competition.
US Electric Vehicle Sales
Problems With Tesla Models and the Future Ahead
A 2025 Tesla Model S
Despite having an innovative approach and putting customer satisfaction ahead of profits, Tesla has come up short on various aspects.
The durability, handling, and repairs cost are some of the quality-related problems that come with a Tesla model. The repairs and maintenance costs are very high and as a result, so are the Insurance costs. Apart from this, Tesla repeatedly comes up short in meeting deadlines regarding production, but this can be attributed to their decision on Vertical Integration.
Whatever the case may be, the company fixes some of its flaws with every new model and with its futuristic.
Tesla is the first brand to introduce electric vehicles on the roads. The models designed by Tesla also stand out from others due to their characteristics. Tesla created a safe way for the EV models to run on roads and also made them available at cost-effective prices.
With its uniqueness, Tesla is now dominating the EV industry and has successfully evolved as an EV brand across the world. The above article contains information like the history of Tesla, Investors and stock shares of Tesla, strategies planned by Tesla, the future of Tesla, and a few other basic information.
FAQs
Who are Tesla’s competitors?
Tesla’s competitors are Rivian Automotive Inc. (RIVN), Lucid Group Inc. (LCID), XPeng Inc. (XPEV), Li Auto Inc. (LI), etc.
Why is Tesla so famous?
Tesla is majorly famous because of its cutting-edge technology involving battery technology and electric powertrain.
Is Tesla the biggest car company?
The company is the biggest in the world and can be defined in many aspects. If we talk about the profit, then yes, Tesla is counted among the eight largest car companies across the world.
What is the rank of Tesla in the world?
Tesla falls at the rank of 65 on the “Fortune 500” list for the year 2021.
Myntra is India’s favorite shopping platform for customers who believe in quality over perfection. When we talk about fashion and online shopping, the first thing that comes to our mind is Myntra. Myntra in its initial days started selling personalized gift products to the largest fashion site in India. Along the journey Myntra acquired a lot of subsidiaries that helped in growing its business.
Myntra, an Indian e-commerce fashion company is located in Bengaluru, India. The company was launched in 2007 to sell personalized gift items.
Founded by Mukesh Bansal along with co-founders Vineet Saxena, and Ashutosh Lawania. In its initial days, Myntra sold on-demand personalized gift items.
From 2007 and 2010, it mainly operated on the business-to-business model.
Myntra began selling fashion and lifestyle products and moved away from personalization in the year 2011.
By the year 2012, Myntra started offering products from 350 Indian and International brands that are more in demand in the clothing market.
Myntra earns by following an aggregator model. The main business plan of Myntra is to buy the latest merchandise and selling it to the customers. Buying current season merchandise from several popular and quality brands, and making the product/item available on its website. The main earning of Myntra comes from the commission. Myntra follows the B2C (Business to customer) revenue model to generate revenue and increase its sales.
Before discussing its subsidiaries and acquisitions, let us understand what is meant by Subsidiary.
What is a Subsidiary?
A subsidiary, subsidiary company, or daughter company is a company that is owned or controlled by another company, which is called the Parent company, Parent, or Holding company.
The subsidiary can be a company, corporation, or limited liability company.
When company A owns/acquires more than 50% of the voting stock of another company B, then in such circumstances company B becomes the subsidiary of Company A and obtaining control of its operations.
At the time of acquisition by Flipkart, Myntra had a total of 1,50,000 products of over 1000 brands, catering to over more than 9000 pin codes in India.
Ananth Narayanan became the Chief Executive Officer (CEO) of Myntra replacing co-founder Mukesh Bansal in 2015.
On 10th May 2015, Myntra announced to shut down its website to solely focus on serving its customers through mobile applications starting from 15th May 2015. This decision resulted in failure.
Acknowledging the failure of the application-only model, Myntra announced to revive its website in Feb 2016.
Myntra functions and operates independently after the acquisition by Flipkart. Myntra still continues to operate as a standalone brand under Flipkart by solely focusing on fashion-conscious customers.
Flipkart acquired Myntra in 2014
Myntra – Subsidiaries and Acquisitions
Below are the details of the acquisition and deal dates when the deal got finalized.
Company Name
Deal Date
Online Services Pvt. Ltd.
August 01, 2018
Withdraw
April 16, 2018
20Dresses
November 29, 2017
InLogg
April 19, 2017
Jabong
July 26, 2016
HRX
July 20, 2016
Cubeit
July 12, 2016
Fitiquette
April 04, 2013
Exclusively
November 09, 2012
Myntra Acquisitions
The Important and Deal breaking Acquisition under Myntra are:
HRX
Jabong
Fitiquette
Roadster
Here, we’ve tried to mention some of the companies acquired by Myntra, their functioning, and operation under Myntra.
Fitiquette
The company is located in Sans Francisco. Fitiquette is the world’s first virtual dressing room platform that enables online shoppers to virtually try before they buy option. It provides an online shopping experience that is very similar to the offline model like buying from the stores.
The technology used in Fitiquette shows virtual mannequins based on the body types of the users. This can further adjust the specific measurements of the users based on their body until it closely mirrors their own. The unique thing about this technology is that the clothing chosen is represented as the best fit based on a series of measurements. (Example. S, M, L, XL).
Myntra owns the fashion brand Roadster, Myntra’s outdoor lifestyle brand which was launched in December 2012. It generates close to 7% of the total sales.
Myntra’s lead designer for the Roadster brand is the famous Vanni Lenci. Roadster has launched an all-new licensed Roadster MotoGP collection. It is the first Indian brand to enter into an exclusive collaboration with the world’s premier motorcycling championship, MotoGP on Aug 18, 2016.
It is quite surprising that, despite having Deepika Padukone’s “All About you” and Hrithik Roshan’s “HRX” brands in its pocket, Roadster is the biggest moneymaker for Myntra.
Pretr Online Services Pvt. Ltd.
Pretr Online Services Pvt. Ltd. is India’s first-ever end-to-end omnichannel platform for retail. Pretr (prettier) was launched in 2016 by two technology executives Bhavik Jhaveri and Ankur Joshi. Pretr is currently operating from Mumbai, India.
Pretr is a marketplace that provides a seamless shopping experience to customers. It is an efficient selling platform to Fashion & Lifestyle Retailers which include Esprit and Mango. Myntra’s own private labels such as HRX and Moda Rapido uses Pretr’s technology platform. This technology platform helps retailers with a bunch of services, including order management and store analytics.
Jabong
Myntra Subsidiaries Jabong
Xerion Retail Private Limited, also popularly known as Jabong, was a private company that was located in Gurgaon, Haryana. It was launched on 23 September 2011. It was classified as a private limited company. Jabong operated only on online fashion and lifestyle stores. It sold numerous products ranging from clothing, bags, shoes, sunglasses, jewellery, watches, and many more.
Jabong was acquired by Flipkart in July 2016 through its eCommerce unit Myntra for $70 million. Flipkart formally shut down Jabong in February 2020 to shift focus completely on its premium clothing platform Myntra.
Myntra’s Parent company Flipkart Acquires Jabong
Witworks Consumer Technologies Pvt. Ltd.
Witworks Consumer Technologies Pvt. Ltd. is a consumer technology company operating and serving customers across India. Witworks is a maker of wearable devices to strengthen its technology team. The company manufactures wearable products like connected smartwatches, smart shoes, and intelligent clothing with biosensors.
Myntra has kept its image in providing quality products and merchandise. Myntra has always focused on quality with perfection and has kept a steady customer service. Its business is well-maintained which has to lead to the first click to an online fashion destination. Myntra bought Bengaluru-based startup Witworks in April 2018.
HRX
Myntra Subsidiaries HRX
HRX is a 5-year-old brand and platform based on a life philosophy to keep pushing. HRX is India’s first celebrity brand that was founded by Hrithik Roshan who is also the brand ambassador for HRX. It is also India’s first homegrown brand that solely focuses on the sports and active lifestyle space. The brand was founded by Hrithik Roshan and co-founders Afsar Zaidi, Kamal Punwani, and Sid Shah. HRX was acquired by Myntra, the online fashion store owned by Flipkart on Jul 20, 2016. It acquired a 51% stake in HRX.
The company was formed by taking inspiration from Hrithik Roshan’s life. No matter how big adversity, it can be overcome with perseverance. It was created to inspire and guide billions of people. HRX main aim is to help people achieve their fitness goals. HRX is a mission that helps us enable and support people to be the fittest, happiest, and most confident version of themselves.
Myntra is India’s favorite shopping destination where quality meets perfection. If you are the one who wants to explore more before buying, want quality products over price, and looking for well-designed products, then Myntra is the best option for you. Myntra has a huge variety of brands. You don’t need to worry about the quality of the products. As Myntra only focuses on quality and authentic products. The products go through a quality check where the products are thoroughly checked. Myntra’s revenue model is B2C (Business to customer). All the products are only available on Myntra’s platform. The products are genuine and are directly collected from the merchandise stores. Enjoy shopping from Myntra.
FAQs
Myntra is owned by which company?
Myntra is owned by Flipkart. Flipkart is Myntra’s Parent Company.
Does Myntra sell fake products?
No, Myntra does not sell counterfeit products at all. Myntra is an aggregator and seller of products. If someone gets a bit downgraded product from any of the leading brands, consider it as the brand’s product only.
Is Myntra good for clothes?
If you are the one who wants to explore more before buying then Myntra is the best option for you. Myntra has a huge variety of brands.
Why Myntra is expensive?
The one things great about Myntra is – the variety and size availability. They are also the market leaders and that’s perhaps the only reason for the pricing. People do buy at Myntra without even looking at other Portals.
Is Myntra profitable?
Myntra Designs revenue up 58% to Rs 1,719 crore, losses increase by 38% Walmart-owned online fashion retailer Myntra Designs Private Limited reported its revenues for the financial year 2019-20 as Rs 1,719 crore, a 58% jump since the last financial year.
Nitin Konde
