Page 18 - Ola Electric Mobility

Ola Electric secures $300-million funding at $6-billion valuation

In the previous deal, Ola Electric had raised $200 million from investors like Tekne Private Ventures, Alpine Opportunities Fund, and Edelweiss

As govt cuts down subsidy, EV two-wheelers may get costlier from June 1

The government earmarked Rs 10,000 crore for a period of three years under the FAME-II scheme. The scheme ended in June 2021 and was extended for a period of two years

Ola Electric expanding fast, to cross 1,000 experience centres this year

As part of that strategy, the SoftBank-backed electric vehicle company on Saturday opened its 500th experience centre (EC) in Srinagar, Jammu & Kashmir

Electrification of Fleet: NITI sets FY31 target for Ola, Uber in green push

Ride-hailing company Uber has committed to 100% of rides taking place in zero-emission vehicles, on public transit, or with micro-mobility by 2040

Focusing on budget-oriented buyers, Ather to launch 450S to gain mkt share

The new electric scooter is likely to miss on features like the 7-inch TFT touchscreen and auto-hold. The feature of riding modes may also be omitted to bring costs down

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After Ola, three others to repay customers for 'off-board charger'

All the three electric two-wheeler manufacturers have written to the ministry of heavy industries on Wednesday expressing their willingness to repay customers

Ola Electric clocks highest-ever sales of over 30,000 units in April

Ola is actively augmenting its offline presence through the establishment of numerous Ola Experience Centers (ECs) throughout India to accelerate the adoption of electric vehicles in the country

Facing the heat: Govt slaps Rs 249-crore fine on Hero Electric, Okinawa

Hero Electric claimed that its vehicles were fully in compliance with the FAME certification in the subject period

FAME subsidy saga: Ola to repay customers for separately billed chargers

Ola has indicated in meetings with officials of the Department of Heavy Industries that it will comply with the directive to offer this compensation

Layoffs continue at startups; funding winter, macro uncertainty to blame

New-age companies like Byju's, Unacademy, social media firm ShareChat, MyGate, and automobile-servicing startup GoMechanic were among the leading names that fired employees in large numbers

Ola Electric and Ather Energy's e-scooter prices to include the charger

The two companies are complying with a direction from the Department of Heavy Industries, which said failure to do so could result in the suspension of the subsidies they receive on each scooter

Independent houses, charging infra boosting EV popularity in non-metros

25 per cent of Tata Tiago EV buyers are first-time buyers and include customers from states such as Bihar, Madhya Pradesh, Uttar Pradesh, and Andhra Pradesh

Electric vehicle sales cross 1-mn units in India, register growth of 58%

Two-wheelers are the biggest contributors, at 62% of total EV sales in the country

Ola to raise $300 mn to fund expansion of scooter, and battery cell plants

This fundraising will reduce the promoters' shareholding marginally from 40 per cent currently to 37-38 per cent

Ola Electric to raise $300 mn for expansion plans to meet corporate needs

E-vehicle manufacturer Ola Electric is close to raising funds of around USD 300 million for its expansion plans and to meet other corporate needs, sources close to the company said. The fresh round of fundraising comes amid expectations that Ola Electric would break even soon and achieve profitability. The fundraising would be managed by investment bank Goldman Sachs, and the funds would be raised from existing and marquee global investors and sovereign funds, the sources added. With close to a billion dollar annual revenue run rate, Ola Electric led the pack of Indian EV manufacturers by volume and revenue within a year of beginning deliveries of its electric scooters -- Ola S1 and Ola S1 Pro. The company has been building on its plan to develop core technologies like cell manufacturing, and is looking to expand its product portfolio across segments of two-wheelers and four-wheelers. Ola Electric had recently signed an MoU with the Tamil Nadu government to acquire land to set up

Uncertain future for EV dealers as manufacturers face subsidy halt

Many are considering shutting shop as supplies are down to a trickle and operational costs exceed revenues

Ola Electric plans to build world's largest EV hub in India for Rs 7,610 cr

The hub, spanning 2,000 acres (809 hectares) in the southern Indian state of Tamil Nadu, will be used for manufacturing electric two-wheelers, cars and battery cells

Ola Electric to have 500 experience centres for customers by March

Outlets manage post-sales care and maintenance of company's electric scooters

Ola rides down the value chain, accelerates into the mass market

Ola is also pushing the pedal in the premium electric scooter market ( Rs 1 lakh to Rs 1.5 lakh) where it has a 50 per cent share