Thanks Deven for this analysis. The case does look bullish, given here only 2W business is considered. Even taking conservative estimate of Ola’s market share at 20%, company can still do decently well.
Major triggers could be other businesses apart from 2W, like 4W (depends on management and it’s ability to fix consumer trust, it has the ingredients to become India’s Tesla).
Going into other business models with swappable battery packs (like Gogoro), setting up it’s own EV charging stations etc could be other revenue streams.
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