Former Puravankara group finance chief Deepak Rastogi will take over as CFO succeeding Harish Abichandani.
Indian electric two-wheeler maker Ola Electric named Deepak Rastogi as its new chief financial officer, effective January 20, as the company navigates slowing sales and rising competition.
Rastogi will succeed Harish Abichandani, who has served as CFO since November 2023. Ola said Rastogi most recently held the role of group finance chief at property developer Puravankara. His appointment comes at a critical time for the company following a challenging period after its market debut.
Under Abichandani, Ola Electric went public in a high profile initial public offering in 2024. However, the company has since struggled with weaker demand, prompting it to cut its fiscal 2026 revenue forecast in November 2025. The slowdown has raised concerns about the pace of growth in India’s electric scooter segment.
Ola Electric was once the clear market leader, commanding around 50% of India’s e-scooter market. That position has since been eroded as established rivals such as Bajaj Auto and TVS Motor gained ground. Both companies have expanded their distribution networks and launched competitively priced electric models, intensifying pressure on Ola.
The company now faces the task of regaining momentum amid fierce competition and cautious consumer spending. Analysts say strengthening financial discipline and execution will be key priorities for the new finance chief as Ola Electric seeks to stabilise sales and defend its position in the fast growing electric mobility market.
