Bhavish Aggarwal, CEO and founder of Ola Electric and Ola Cabs, took a subtle jab at Tesla founder Elon Musk. Known for his straightforward views on the global mobility scene, Aggarwal expressed his curiosity over Musk’s business choices, highlighting the contrasting paths of their companies.
Aggarwal, recognised for his outspoken commentary, admitted his admiration for Musk but questioned why the Tesla founder is entering markets where Ola has already made strides. “I respect Elon and acknowledge his pioneering work. But it’s puzzling that he’s stepping into the same spaces I’m already exploring. Perhaps he should consider new ventures,” He remarked, also noting his own AI initiative, Krutrim, which he launched ahead of Musk’s recent AI pursuits.
Bhavish has vowed to bring affordable electric vehicles (EVs) to the Global South. He criticised Musk’s approach, asserting that while the US-based company builds high-end vehicles for rich customers, Ola Electric is dedicated to building EVs for developing countries.
Furthermore, he stated at a business event in New Delhi “Tesla is for the West, Ola is for the rest,” noting that his strategy is to build for India then expand to the Global South. He emphasized that the firm’s mission is to position India as a global EV hub.
Ola specialises in manufacturing EV components such as battery cells. The company made its debut earlier in the month with shares reaching almost 82% within two weeks, raising its market capitalization to over $7 billion and making it one of the most successful Initial Public Offerings (IPOs) in India.
Indian media frequently compare Bhavish Aggarwal, who has a net worth of about $1.4 billion, with Elon Musk, the world’s richest man with an estimated $228 billion. This comparison is driven by Ola’s significant progress in the electric vehicle (EV) and artificial intelligence (AI) sectors, beyond its initial success in ride-hailing.
Recently, Aggarwal’s company introduced Krutrim, an AI language model, while Musk’s Grok, an AI-powered chatbot, is featured in the ‘Premium’ package of his X (formerly Twitter) platform.
Aggarwal responded to these comparisons at the event, hinting that Musk should explore new ventures. He added, “I’m much younger than him, and he’s someone we all admire. But honestly, I’m not sure why he’s venturing into the same businesses as I am. Maybe he should try something different for a change. I started Krutrim before he launched his AI venture,”
Both Aggarwal and Musk have made waves in their respective industries however, their journeys differ in many aspects. Aggarwal’s ventures into mobility and AI have laid the foundation for considerable impact in the global market. His investments into these projects have solidified his position as a key industry player, raising his net worth to about $2.6 billion, after the successful IPO of Ola. This was reported by the Bloomberg Billionaire Index.
Musk, with his degrees in physics and economics from the University of Pennsylvania, frequently makes headlines for his bold and occasionally contentious social media activity.
In contrast, Aggarwal, who left IIT Bombay to follow his entrepreneurial dreams, has chosen a more reserved public persona while remaining actively engaged in industry discussions. The rivalry between Aggarwal and Musk highlights a broader trend of emerging players disrupting established giants. Both their distinct strategies and visions will continue to shape the future of technology and transportation on a global scale.
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