The government's support to the EV industry has been through direct subsidy on the price of the vehicle through FAME, PLI and now the EMPS scheme aggregating to over Rs 59,000 crore
Mobility sector's growth path set to accelerate to 25% by FY30: Deloitte
These cells would be manufactured from its newly set up Ola Gigafactory in Krishnagiri, Tamil Nadu
Solid-state batteries are expected to offer improved safety, a longer lifespan and faster charging compared with conventional lithium-ion batteries that use flammable liquid electrolytes
Ola Electric is eyeing a $6-7 billion valuation through the offering
Ola Electric IPO: The the first public offering by an EV startup in India includes an offer-for-sale component of 95.2 million shares
Expected IPOs in the coming months include those of Ola Electric, FirstCry, Waaree Energies, Fincare Small Finance Bank, Bansal Wire Industries, NSDL, among others
Starts trial run with 4680 battery cells
Sebi's approval, coupled with a buoyant market, could potentially enable the company to launch its IPO within a month
As many as 15 suppliers have shown an interest in localising operations within the PLI timeline
Kaynes would manufacture the chips based on Ola's design
The S1 X range comes with the requested physical key and caters to customers with different range requirements
Ola gained market share because its decline was much lower than the industry average
Ola Electric slashed the prices of its entry-level scooter S1 X by Rs 5,000 to Rs 10,000 across variants
Beyond the buzz of Ola and Tata, Hosur ignites India's electric evolution, quietly
The future of mobility is electric - not just in personal mobility but also for the ride-hailing business, and there is immense opportunity for expansion in India, said the statement
India's e-scooter market is small but growing, accounting for 5% of total two-wheeler sales in fiscal 2023-2024
Ola's CMO, Anshul Khandelwal, also pointed out that there have been fundamental changes in the buying patterns of customers - for instance, more women are now buying electric vehicles than earlier
Ola is planning to enter the e-rickshaw segment with its new product Raahi which is expected to be released this month. Raahi will compete with Mahindra Treo, Piaggio Ape e-city and Bajaj RE
The ministry made the announcement on the day when it launched the second round of auction for the 18 strategic mineral blocks valued at Rs 30 trillion