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gazetteweekly · 2 months

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Ola Electric IPO: Prices Set at Rs 72-76 Per Share, Aiming to Raise Over Rs 6,100 Crore

Ola Electric Mobility Limited, the Bengaluru-based electric vehicle (EV) manufacturer, has announced the price band for its upcoming initial public offering (IPO). The shares will be offered at a price range of Rs 72–76 each, with the IPO set to open for subscription on August 2 and close on August 6. Investors can bid for a minimum of 197 shares and in multiples of 197 shares thereafter.

IPO Details

. Price Band: Rs 72–76 per share

. IPO Opening Date: August 2

. IPO Closing Date: August 6

. Minimum Bid: 197 shares

At the upper end of the price band, Ola Electric aims to raise Rs 6,145 crore, while the lower end targets Rs 6,111 crore. The IPO will consist of a fresh issue of up to Rs 5,500 crore and an offer for sale (OFS) of up to 8.49 crore shares worth Rs 645 crore. There is also a reservation for eligible employees.

Use of Proceeds

According to Bhavish Aggarwal, Chairman and Managing Director of Ola Electric, the proceeds from the fresh issue will be allocated as follows:

Rs 1,227.6 crore for capital expenditure by subsidiary OCT

Rs 800 crore for repayment or pre-payment of debt

Rs 1,600 crore for research and product development

Rs 350 crore for organic growth initiatives and general corporate purposes

Company Overview

Ola Electric specializes in manufacturing electric vehicles and core EV components, including battery packs, motors, and vehicle frames, at its Ola Futurefactory. The company aims to capitalize on the growing trend of EV adoption in India and plans to expand into select international markets.

Since delivering its first model, the Ola S1 Pro, in December 2021, Ola Electric has quickly become a leading electric two-wheeler (E2W) brand in India. The company has also introduced additional models, including the Ola S1, Ola S1 Air, and Ola S1 X+.

Future Plans

Ola Electric’s vertically integrated business model includes in-house R&D, manufacturing, supply chain management, and a direct-to-consumer (D2C) omnichannel distribution platform. The company plans to use its Generation 2 platform, initially developed for the Ola S1 scooter, for a new motorcycle range featuring four models: Diamondhead, Adventure, Roadster, and Cruiser.

The company’s facilities include a Futurefactory, Gigafactory, and a Battery Innovation Centre in Bengaluru, with ongoing construction of an EV hub in Tamil Nadu’s Krishnagiri and Dharmapuri districts.

As Ola Electric prepares for its IPO, the company’s focus on innovation and expansion continues to position it as a key player in the EV industry.

#Ola Electric #IPO #EV Stocks #Electric Vehicles #Ola Futurefactory

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cmpmobile · 1 month

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Ola Electric Roadster Series: Latest EV Bikes Unveiled at Sankalp 2024

Ola Electric took the wraps off its latest range of electric two-wheelers dubbed the Roadster series in India at its Sankalp 2024 event on August 15. The event, held at the company’s new FutureFactory in Tamil Nadu, saw the debut of three new electric vehicle (EV) bikes: Roadster Pro, Roadster X, and Roadster, with the former being a premium performance-centric option at Rs. 2 lakh. It also…

#Technology News

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dailyreportonline · 1 month

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Ola Electric Roadster Series EV Bikes Unveiled in India: All You Need to Know | Daily Reports Online

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riverwoodcapital1 · 3 months

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OLA Electric IPO GMP, Price, Allotment, Profit Estimate 2024

OLA Electric IPO Description – OLA Electric stands as a dedicated EV pioneer in India, forging ahead with vertically integrated technology and manufacturing prowess for electric vehicles and their essential components, including cells. At the cutting-edge Ola Futurefactory, they craft EVs and key parts such as battery packs, motors, and vehicle frames. In Fiscal 2023, OLA Electric achieved the…

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wealthview · 9 months

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Ola Electric IPO Date, Price, GMP, Review, Company Profile, Risks & Financials 2023

New Post has been published on https://wealthview.co.in/ola-electric-ipo/

Ola Electric IPO Date, Price, GMP, Review, Company Profile, Risks & Financials 2023

Ola Electric IPO: Ola Electric is a young Indian electric vehicle (EV) company, aiming to disrupt the transportation landscape with its electric scooters and cars. They compete in the rapidly growing Indian EV market, fueled by government incentives and increasing environmental awareness.

Page Contents

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Ola Electric IPO Details:

Ola Electric Company Profile:

Ola Electric Financials:

Ola Electric IPO Objectives:

Ola Electric IPO Lead Managers & Registrar:

Ola Electric IPO Risks:

Ola Electric IPO Details:

IPO status: Not yet launched. DRHP filed with SEBI on December 22, 2023.

Expected timeline: Subscription likely in early 2024, listing soon after.

Offer size: Up to ₹5,500 crore fresh issue and offer for sale of 95,191,195 shares.

Price band: Not yet announced. Targeted valuation is $7-8 billion.

News and Developments:

Positive buzz: Filing the DRHP is a crucial step, generating excitement among investors and analysts.

Funding secured: Recent reports about Ola Electric securing $500 million in loan B financing demonstrate investor confidence.

Gigafactory progress: Progress on Ola’s ambitious Gigafactory project in Tamil Nadu adds weight to their production capabilities.

Market uncertainty: Global economic worries and potential inflation may dampen investor sentiment for risky ventures like IPOs.

Ola Electric Company Profile:

Ola Electric, a name synonymous with India’s electric vehicle revolution, is rapidly carving its niche in the burgeoning industry. Founded in 2017 by Bhavish Aggarwal, the mastermind behind Ola Cabs, Ola Electric has come a long way in its mission to disrupt the traditional transportation landscape. Let’s delve into the company’s history, operations, and market position.

A Brief History of Electrification:

2017: Ola Electric embarks on its electric journey, initially focusing on electric rickshaws.

2019: The company unveils its first electric scooter, the S1, followed by the S1 Pro in 2020.

2021: Ola Futurefactory, the world’s largest two-wheeler manufacturing facility, is inaugurated in Krishnagiri, Tamil Nadu.

2022: Ola launches its electric car, the Ola S1, marking its entry into the four-wheeler segment.

2023: The company files its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its highly anticipated IPO.

Operations and Market Position:

Products: Ola Electric currently offers a range of electric scooters, including the S1, S1 Pro, and S1 Air, along with its flagship electric car, the Ola S1.

Market Share: In the Indian electric two-wheeler market, Ola Electric holds a dominant position, capturing over 50% share in FY23. However, it faces stiff competition from established players like Hero Electric and Ather Energy.

Global Ambitions: Ola Electric aspires to become a global leader in the EV space, with plans to enter international markets like the UK and Australia.

Key Facts and Figures:

Funding: Ola Electric has raised over $1 billion in funding from prominent investors like SoftBank, Temasek, and Tiger Global.

Valuation: The company is currently valued at around $5.4 billion, potentially reaching $7-8 billion after its IPO.

Employees: Ola Electric employs over 10,000 people across its various operations.

Prominent Brands and Partnerships:

Ola Futurefactory: This state-of-the-art facility boasts a production capacity of 20 million electric two-wheelers per year.

Ola Electric Mobility Institute (OEMI): This dedicated institute focuses on research and development in electric vehicle technology.

Partnerships: Ola Electric has partnered with key players like Flipkart, Axis Bank, and Bharat Petroleum to facilitate e-commerce sales, financing options, and charging infrastructure development.

Milestones and Achievements:

Building the world’s largest two-wheeler factory.

Becoming the leading electric two-wheeler manufacturer in India.

Developing and launching its own electric car within a short timeframe.

Competitive Advantages and USP:

First-mover advantage in the Indian electric scooter market.

Vertically integrated operations, including battery production.

Focus on cutting-edge technology and innovation.

Building a robust charging infrastructure network.

Ola brand recognition and established customer base.

Ola Electric’s journey is a testament to its ambition and agility in the dynamic EV landscape. With its aggressive expansion plans, focus on innovation, and strategic partnerships, the company is poised to play a pivotal role in shaping the future of mobility in India and beyond.

Ola Electric Financials:

Revenue: Ola Electric has demonstrated explosive revenue growth in FY23, with total revenue reaching Rs. 2,782 crore, a rise of over 500% compared to FY22. This growth is primarily driven by increased sales of its electric two-wheelers.

Profitability: Despite the remarkable revenue increase, the company continues to incur losses. Net loss in FY23 stood at Rs. 1,472 crore, widening from Rs. 784 crore in FY22. This is mainly due to high operating expenses associated with factory setup, research & development, and marketing initiatives.

Ola Electric IPO Objectives:

Ola Electric’s decision to go public through an IPO is driven by several key objectives, all of which align with its ambitious future growth strategy:

1. Capital Raising: The primary objective is to raise funds, estimated to be around Rs. 7,250 crore, through a combination of fresh issue and offer for sale (OFS). This capital injection is crucial for:

Funding Growth: Ola Electric aims to expand its product portfolio beyond electric scooters, introducing new models and venturing into four-wheeler segments like electric cars and commercial vehicles.

Building Manufacturing Capacity: Scaling up production capacity for existing and future models requires significant investments in infrastructure and technology. Ola’s Futurefactory, while impressive, needs additional resources to meet its long-term goals.

R&D and Innovation: Continued investment in research and development is essential for staying ahead in the rapidly evolving EV landscape. This includes battery technology advancements, autonomous driving features, and other cutting-edge innovations.

Debt Reduction and Financial Flexibility: A portion of the raised funds might be used to repay or pre-pay existing debt, enhancing the company’s financial stability and flexibility for future investments.

2. Enhanced Brand Recognition and Market Credibility: Going public brings Ola Electric under the public spotlight, increasing brand recognition and attracting a wider investor base. This can solidify its position as a leading player in the Indian EV market and strengthen its credibility among potential partners and customers.

3. Access to Talent and Partnerships: A successful IPO can attract and retain top talent, crucial for executing the company’s growth strategy. Public listing also opens doors for potential partnerships with established players in the automotive, technology, and financial sectors.

Ola Electric IPO Lead Managers & Registrar:

Ola Electric has entrusted a consortium of renowned investment banks to act as lead managers for its highly anticipated IPO:

Lead Managers:

Kotak Mahindra Capital Company Limited: A leading financial institution in India with extensive experience in managing large-scale IPOs, including SBI Cards, HDFC Life, and LIC.

Citigroup Global Markets India Private Limited: Renowned global investment bank with a strong track record in IPOs across various sectors, including Zomato, Nykaa, and Paytm.

BofA Securities India Limited: Global leader in investment banking with extensive experience in managing major Indian IPOs like IRCTC, Indian Railway Finance Corporation, and Coal India.

Goldman Sachs (India) Securities Private Limited: Reputable investment bank with deep expertise in handling tech-oriented and high-growth IPOs, including Delhivery, Macrotech Developers, and Policybazaar.

Axis Capital Limited: Leading domestic investment bank with successful involvement in IPOs like Adani Wilmar, Glenmark Life Sciences, and Dixon Technologies.

ICICI Securities Limited: Established Indian financial institution with significant experience in managing IPOs like Sona BLW Precision Forgings, Indigo Paints, and Astral Poly Technik.

SBI Capital Markets Limited: Investment arm of India’s largest bank, SBI, with significant involvement in IPOs like Glenmark Pharmaceuticals, Larsen & Toubro Infotech, and Indiabulls Real Estate.

BOB Capital Markets Limited: Investment banking arm of Bank of Baroda, with experience in managing IPOs like Aavas Financiers, RBL Bank, and Sundaram Asset Management.

Track Record:

These lead managers collectively boast a proven track record of successfully managing complex IPOs in diverse sectors, highlighting their experience, expertise, and network of investors. This expertise provides investors with confidence in the execution and overall success of the Ola Electric IPO.

Registrar:

Link Intime India Private Limited is appointed as the registrar for the Ola Electric IPO. The registrar’s role involves handling shareholder records, managing share transfers, dividend payments, and other administrative tasks related to the issue and trading of shares. This ensures a smooth and transparent process for investors throughout the IPO and beyond.

Ola Electric IPO Risks:

While Ola Electric’s IPO holds immense potential, it’s crucial to acknowledge and understand the inherent risks associated with investing in this high-growth, high-risk venture. Here are some key points for potential investors to consider:

Industry Headwinds: The EV market, despite its promising prospects, faces challenges like rising battery costs, dependence on government subsidies, and the potential for policy changes. These factors could impact Ola Electric’s profitability and growth trajectory.

Company-Specific Challenges:

Profitability Concerns: Ola Electric continues to incur significant losses, raising concerns about its ability to achieve long-term profitability. The company’s ambitious growth plans might further strain its finances in the short term.

Intense Competition: Established players like Hero Electric and Ather Energy, along with potential new entrants, will intensify competition in the Indian EV market. Ola Electric needs to differentiate itself and maintain its market share to achieve sustained success.

Manufacturing and Supply Chain Risks: Reliance on imported components and potential supply chain disruptions can impact production timelines and delivery schedules, affecting the company’s ability to meet demand.

Execution Risks: Implementing Ola’s ambitious expansion plans and future ventures like car production requires strong execution capabilities. Any missteps or delays could hinder the company’s progress.

Financial Health:

While Ola Electric’s revenue growth is impressive, its current financial position raises some red flags for investors:

High Losses: The company’s net loss nearly doubled in FY23, highlighting the need for significant improvement in cost management and profitability.

Limited Operating History: Ola Electric is a relatively young company with limited operating history, making it difficult to assess its long-term viability and ability to overcome challenges.

Debt Levels: While currently low, the company might need to take on debt to finance its expansion plans, potentially increasing its financial risks.

Ola Electric Mobility Limited – DRHP

Also Read: How to Check IPO allotment status?

#IPO

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new-haryanvi-ragni · 2 years

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Ola Electric rolls out 1 lakh units of electric scooters in 10 months from Futurefactory

After selling 20,000 units in October 2022, Ola Electric has achieved a new production milestone of producing 1 lakh units from its Futurefactory in Krishnagiri, Tamil Nadu. source https://zeenews.india.com/electric-vehicles/ola-electric-rolls-out-1-lakh-units-of-electric-scooters-in-10-months-from-futurefactory-2531119.html

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happyplanet1 · 2 years

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Ola's Bhavish Aggarwal Doubles Down on EVs to Undercut Elon Musk's Tesla

Ola’s Bhavish Aggarwal Doubles Down on EVs to Undercut Elon Musk’s Tesla

When Bhavish Aggarwal arrived for a recent visit at the Ola Futurefactory, marketed as the world’s largest electric two-wheeler plant, the company’s founder was quick to spot a shuttered entryway that should have been left open. He immediately summoned a custodial manager, people who were present said, and meted out a punishment: run three laps around the several-acre-large plant. Such an…

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kriznews · 2 years

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[ad_1] When Bhavish Aggarwal arrived for a recent visit at the Ola Futurefactory, marketed as the world's largest electric two-wheeler plant, the company's founder was quick to spot a shuttered entryway that should have been left open. He immediately summoned a custodial manager, people who were present said, and meted out a punishment: run three laps around the several-acre-large plant. Such an unsparing attitude has made Aggarwal, 37, one of India's most determined entrepreneurs but also one of its most divisive. In his twenties, the founder of India's largest ride-sharing company held off deep-pocketed rival Uber to remain the country's top brand. Now, Aggarwal wants his Ola Electric to displace Elon Musk's Tesla and China's BYD as the industry leader for electric vehicles by carving out a niche in lower cost designs.But Aggarwal's relentless pace and management style have vexed some managers and board members at Ola Electric, raising concerns about safety and the business model, according to interviews with more than two dozen former and current employees, who asked for anonymity out of concern for reprisals. Supply chain problems have delayed two-wheelers. Sales have slowed. Some customers complain that scooters catch on fire, have faulty batteries or accident-causing software, spurring product recalls and apologies on Twitter. Around three dozen senior executives working across Aggarwal's two billion-dollar companies — Ola Electric and ANI Technologies which runs Ola's ride-hailing operations — have quit within a year or two of joining, a higher turnover rate than peers.Late last year, as internal challenges mounted and the global investment climate cooled, Aggarwal paused an initial public offering plan for ANI Technologies, which was last valued at $7.5 billion (roughly Rs. 61,700 crore) according to researcher CB Insights. Now, as question marks hang over Ola Electric, multiple current and past executives said in interviews that the company and its risk-taking founder are at a crossroads: Aggarwal could become India's answer to Elon Musk or he could collapse under the weight of his own ambitious vision.“Passions and emotions run high and we are not on an easy journey,” Aggarwal said in an interview last month at Ola Electric's swanky headquarters in Bengaluru, occasionally petting the three office dogs: Happy, Husky and Fatty. “But I don't want to choose an easier journey for myself or for Ola. My anger, my frustration — that's me as a whole.”Aggarwal's mission has promise. India is already the world's largest manufacturer of two-wheelers and the biggest global market. With blue-chip investors and sovereign funds looking for alternatives to China, the country's success in building affordable vehicles could provide a model for how developing economies can scrap combustion engines and lower emissions without costly electric cars. In India, government subsidies and inexpensive labor are helping make EVs as cheap as or cheaper than internal-combustion-engine models.“The cheapest Tesla costs $50,000 (roughly Rs. 41 lakh), which most of the world cannot afford,” Aggarwal said. “We've a chance to lead the EV revolution with a different set of options priced between $1,000 (roughly Rs. 82,000) and $50,000 (roughly Rs, 41 lakh).”India's EV market is expected to reach more than $150 billion (roughly Rs. 12,33,000 crore) by the end of the decade, or roughly 400 times its current size, according to Research and Markets. Just a few months after Ola's electric two-wheeler hit the market last December, Aggarwal started tweeting teasing glimpses of the company's car design and a new battery innovation center. He has zealously pushed to upend India's tradition-bound automobile industry, which for decades has been dominated by conglomerates like Tata and Mahindra.“By seeking to pull off something big in the EV industry, Bhavish Aggarwal aspires for the world stage,” said Neha Singh, co-founder of Tracxn Technologies, a Bengaluru-based firm that tracks startups. However, after some initial success, “Ola still has to cover a huge distance to make electric vehicles a mass market in India.”In the Bloomberg interview, Aggarwal said he wants to build companies with lasting impact, even if that means rubbing some people the wrong way. He said India can surpass rivals not just by making cheaper EVs, but also by cultivating a global footprint in 5G, green energy and sustainable mobility. Progress in achieving those goals, he said, is “the yardstick the world should judge us by.”“There's no major success without sweat and tears,” he said.A ‘Quick Learner'Aggarwal started his business career more than a decade ago in ride-sharing.After completing an engineering degree and a stint at Microsoft Corp., he founded Ola in 2010 with Ankit Bhati, a classmate at the premier Indian Institute of Technology Mumbai. The company, incorporated as ANI Technologies Pvt, originally provided cabs for tour groups, but soon pivoted to ride-hailing. At that time, most Indians relied on spotty neighborhood cab services.TVG Krishnamurthy, 78, a board member of ANI Technologies, called Aggarwal a “quick learner” with the unique ability to “focus at once on the grass growing on the ground and the flowers at the top of the tree.”“One Sunday, we were chatting and he asked, ‘What would Ola's share be in all of mobility in India?'” Krishnamurthy said, recalling a decade-old conversation with Aggarwal. “He started marking the percentage share on the back of his bathroom door.”Business flourished as urban Indians quickly adopted the service for commuting or running errands. When global rival Uber started operations in India in 2013, Aggarwal encouraged Ola's workers to try to outsmart the Silicon Valley company on every front — prioritizing outreach to government officials, public relations blitzes and support services for drivers.Former employees said the startup was an exciting place to work at that time. Ola enlisted more than a million drivers and expanded to dozens of cities. At the end of 2014, Uber's India operation was set back by a gruesome crime in which a driver was arrested and later convicted of raping a passenger. At the same time, Ola steadily grew its market share. The company attracted investors from Temasek and Warburg Pincus and expanded internationally to the UK, Australia and New Zealand.But by that point, a rift was widening within Ola, executives said in interviews. In 2017, Aggarwal founded Ola Electric and began exploring the capital-intensive business of making EVs. While he used the Ola brand for his new venture, the business was completely separate. Co-founder Bhati and nearly all early investors in ANI Technologies weren't part of the new company.“I thought it isn't fair to burden others when we're going into a very different business with capital intensity, debt profile and capability,” Aggarwal said in the Bloomberg interview. “That's why investors were given a chance to opt-out. Whoever felt they wanted to invest has invested.”Building the FuturefactoryBy 2020, Aggarwal was spending much of his time building Ola Electric. Typically, EV companies take at least a few years to make. Aggarwal wanted to cut that timetable to compete against local rivals such as the Bengaluru-based Ather Energy, which spent several years developing a battery and months making quality checks on 100 initial scooters before mass-producing its design.Aggarwal devised a much shorter schedule. In March 2021, he stood on a barren stretch of land three hours outside Bengaluru, describing at a media gathering dreams to build a $330 million (roughly Rs. 2,700 crore) two-wheeler plant with a capacity of two million electric scooters in a matter of months. Aggarwal planned for ten lines with an annual capacity of 10 million scooters over two years. He hoped to export the vehicles to Europe and Latin America.Six months later, the Futurefactory opened. By the end of 2021, the company's first scooter hit the market.Rather than employing a dealership model, Ola Electric reached buyers through social media, a tactic no automaker had attempted before. Ola Electric's manufacturing process used innovative technology, including ultrasonic friction-welding to forge hundreds of connections between cells in each battery pack. During tours of the factory, Aggarwal liked to show off the noise-free assembly lines and robots that painted the scooters.But it didn't take long for complaints to pile up on social media. Aggarwal and Ola Electric's Twitter feeds are filled with buyers upset about delivery delays, overheating batteries and scooters that catch fire. When Aggarwal recently asked his Twitter followers what cool scooter accessories they wanted, one responded, “Fire extinguisher.”Inside Ola Electric, employees said the culture has turned hostile over the last couple of years. In meetings, Aggarwal ripped up presentations because of a missing page number, directed Punjabi epithets at staff and called teams “useless,” according to current and former employees. Executives said in interviews that meetings scheduled for an hour often lasted 10 minutes because Aggarwal would lose patience over a superfluous sentence in a memo, a crooked paper clip or the quality of printing paper.Retention was a problem, particularly at the C-suite level. Some executives, including Zilingo's former chief financial officer Ramesh Bafna, decided not to join Ola Electric days after formally accepting employment offers. One business head, who has since departed the company, likened expectations at Ola Electric to “having to run a marathon like Usain Bolt,” the world's greatest sprinter.“Not everybody is a fit for our culture,” Aggarwal said when asked about his management style. “There's no world standard on an even, sterile work environment.”Bafna declined to comment.Taking on the ‘Big Boys Club'So far, the boards of both companies, which comprise the likes of SoftBank Group Corp., have said little in meetings about Aggarwal's approach to governance. But in interviews, some top executives who've since departed raised concerns about the ethics of a share-swap deal with a startup founded by Aggarwal's younger brother, Ankush, who now heads Ola Electric's financial services unit.There are also questions about valuation. Last year, as ANI Technologies prepared for an IPO, investors Warburg Pincus and Temasek Pte partook in a secondary transaction, causing the valuation to fall from around $6 billion (roughly Rs. 49,300 crore) to $3 billion (roughly Rs. 24,700 crore), according to three people aware of the matter. They said early investors felt cheated. But only a few months later, after the company pulled together a series of deals for a primary round with investors including Edelweiss, ANI Technologies' valuation soared to $7.3 billion (roughy Rs, 60,000 crore).Ola didn't respond to questions about the acquisition or valuation swings. In the Bloomberg interview, Aggarwal didn't directly address either issue but attributed some of the scrutiny to jealous rivals.“The incumbents in the auto industry are the Big Boys Club,” he said. “They left the door open for an upstart like me. My question back to them is, ‘What were they doing? Why is India not leading electrification of vehicles?'”Ola Electric's business challenges have become clearer in recent months. Scooter sales have yet to take off. Vehicle registrations fell 35 percent in July compared with June, according to Business Standard newspaper. Ola Electric sold a little over 45,000 units by July of this year based on vehicle registration data — far less than what the factory can produce and below the 1 million reservations received when booking opened last December.But after supply chain disruptions and maintenance issues, Aggarwal said production is now rising at the Futurefactory. He pointed to Ola Electric's unique advantages, including an end-to-end play in ride-sharing, auto retail financing and insurance of vehicles. At a company event in mid-August to unveil its electric car, Ola Electric branded itself “India's largest” EV company making the “world's best” electric scooter.Whether Ola Electric succeeds or not, Aggarwal's admirers seem to agree that he has turbo-charged the EV market, pulling in millions of investment dollars. Despite the risks, Aggarwal said he prefers to take the long view and push ahead with a lofty goal: to build millions of affordable vehicles for India and, eventually, the world.“Growing up, we constantly heard that India is a developing country,” he said. “It's our generation's destiny to change this and now is the time. I take both the responsibility and the opportunity seriously.”© 2022 Bloomberg LPAffiliate links may be automatically generated - see our ethics statement for details. [ad_2]

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