Ola is laying off 1,000 workers and aggressively expanding its EV business.

According to a report, as Ola ramps up its hiring for the electric mobility business, the urban mobility firm is in the process of firing nearly 1,000 employees.

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According to newspapers, which cited company insiders and recruitment agencies, Ola is in the process of firing nearly 1,000 employees as it ramps up its hiring for the electric mobility business.

The newspaper previously reported that the company was laying off 400-500 employees and that many employees’ annual evaluations had yet to be formalised. However, the final figure for layoffs may now reach 1,000, according to press reports.

Ola’s restructuring exercise, which is expected to last a few more weeks, is intended to shift the company’s focus to its electric mobility business. Ola is hiring “aggressively” for its electric mobility business, according to executives involved in the hiring process.

According to the report, the company has been hiring across multiple verticals, including mobility, hyperlocal, fintech, and its used car businesses.

According to one company executive, Ola has asked employees who are facing layoffs to resign voluntarily. “The company is delaying the appraisal process of several employees whom the company wishes to fire— for them to resign,” an employee told the press.

NMC 2170, the first indigenously developed lithium-ion cell, was recently unveiled by Ola. The company is heavily investing in core research and development (R&D) to develop indigenous advanced cell technologies. According to the press, which cited a source, as SoftBank-backed Ola plans to manufacture lithium-ion battery cells and an electric car, it was hiring four people for every person laid off.

NMC 2170, the first indigenously developed lithium-ion cell, was recently unveiled by Ola. The company is heavily investing in core research and development (R&D) to develop indigenous advanced cell technologies. According to reports, which cited a source, as SoftBank-backed Ola plans to manufacture lithium-ion battery cells and an electric car, it was hiring four people for every person laid off.

“Ola is planning to hire about 800 people for cars alone and additionally for cell development…,” ET reported quoting a person aware of the matter. The source added, “Even as they are letting go of people, more people are coming in. It is a repurposing process for the company rather than a cost-cutting process…”

On July 18, Ola Electric announced that it had signed an agreement to manufacture advanced cells in India under the Centre’s production-linked incentive (PLI) scheme. It claims to be the only Indian electric mobility company chosen by the government under its ambitious Rs 80,000-crore cell PLI scheme, with a maximum capacity of 20-gigawatt hours (GWh) for its March bid.

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