Ola Electric and Ola Cabs CEO and founder Bhavish Aggarwal took a swipe at Tesla founder Elon Musk during the BT India@100 Conclave hosted by Business Today. Aggarwal, known for his sharp insights into the global mobility landscape, questioned Musk’s business strategies while emphasising the distinct paths their companies are taking.
Aggarwal, who has built a reputation for his candid remarks, noted that while he admires Musk, he finds it curious that the Tesla founder is venturing into industries where Ola has already established a presence. "You know, I’m just being myself. I’m much younger than him, and he’s someone we all look up to. But honestly, I’m not sure why he’s venturing into the same businesses I’m in. Maybe he should try something new for a change," Aggarwal quipped, referencing his own AI venture, Krutrim, which he launched before Musk's foray into artificial intelligence.
Highlighting the distinction between their business models, Aggarwal stated, "Tesla is for the West, Ola is for the rest. The products that companies like Tesla, etc, will build are for the 1 billion rich people. The larger opportunity is to build for the global south, build for India, and then expand to the global south. That's what Ola Electric is doing with our products."
Musk Vs Aggarwal: Similarities & Differences
While both Aggarwal and Musk have disrupted their respective industries, their journeys, personalities, and business philosophies show notable differences. Musk’s ventures span a wide range of industries, from electric vehicles and space exploration to social media and AI, contributing to his status as the world's wealthiest person, with a net worth of $247.6 billion, as per Bloomberg Billionaires Index.
Aggarwal’s approach, while more concentrated, has also made significant waves. His ventures in mobility and AI have cemented his status as a major player in the global market. Following the successful IPO of Ola Electric, Aggarwal’s net worth has climbed to around $2.6 billion, according to the Bloomberg Billionaire Index.
Disruptors In Their Own Right
Musk revolutionised the traditional automotive industry with Tesla’s electric vehicles and redefined space exploration through SpaceX’s reusable rockets.
Aggarwal, meanwhile, transformed urban transportation in India with Ola, making ride-hailing accessible and affordable. His latest endeavour, Ola Electric, seeks to drive the mass adoption of electric vehicles in India, aiming to position the country as a leader in the global EV market.
Both entrepreneurs have faced criticism for their aggressive timelines. Musk is well-known for setting ambitious goals that often lead to delays, a trait shared by Aggarwal, whose ambitious production targets for Ola Electric have also faced setbacks.
Shared Ambitions, Different Approaches
For Musk and Aggarwal, their public personas and backgrounds are the main differentiators. As per Business Today, Musk, armed with degrees in physics and economics from the University of Pennsylvania, often makes headlines with his outspoken and sometimes controversial social media presence. Aggarwal, who dropped out of IIT Bombay to pursue his entrepreneurial aspirations, has taken a different route, maintaining a relatively lower public profile while still being vocal in industry circles.
As Aggarwal continues to steer Ola Electric towards his vision for the future of mobility in the global south, his remarks at the conclave underscore his confidence in the direction he is taking, even as he challenges industry giants like Musk to chart their own course.