Ola Electric embraces rare earth-free motors amid trade tensions
Auto
Ola Electric is rolling out rare earth-free motors in its electric vehicles next quarter, aiming to sidestep global supply chain headaches caused by US-China trade tensions and China's export restrictions on key minerals.
The company started developing these motors years ago to cut costs and reduce dependence on pricey imported materials.
Ola Electric's revenue dropped 50% year-on-year last quarter
Ola Electric's revenue dropped 50% year-on-year last quarter, with net losses rising to ₹428 crore and deliveries nearly halved compared to last year.
Still, the company managed to improve its profit margins by slashing material and employee expenses.
These changes are all part of Ola's bigger plan to stay financially steady while adapting to a tricky market.