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Ola’s mobility business has picked up and is much “bigger and better than pre-COVID levels”, Co-founder and Group CEO Bhavish Aggarwal said at YourStory‘s flagship TechSparks 2022 event, adding that while the company was in no urgency to go for a public listing, it could launch its IPO next year.

Ola’s mobility business, especially ride-sharing, slowed when the pandemic hit in 2020. The Bengaluru-based company has since focused on manufacturing and selling electric two-wheelers, recently hitting a major milestone of producing 100,000 vehicles. 

“It was very tough for us and the ecosystem that relied on ride-sharing. The business was zero in the beginning. But today I would say it has recovered much more than pre-COVID,” Bhavish said in a conversation with Shradha Sharma, Founder and CEO at YourStory.

He was speaking on the topic ‘The fast lane: Ola’s super-charged electric pursuit.’

During the interaction, Bhavish also said Ola had diversified to multiple formats, and that its auto-rickshaw and two-wheeler businesses had picked up.