Page 18 - Ola Electric Mobility

Ola Electric raises Rs 3,200 cr from investors, SBI to fund EV biz

Ola Electric on Thursday said it has raised Rs 3,200 crore from Temasek-led investors and State Bank of India. The company announced the successful closure of the funding round from Temasek-led investors and State Bank of India. The funds raised would be utilised towards expansion of Ola's EV business and setting up India's first lithium-ion cell manufacturing facility at Krishnagiri, Tamil Nadu, the company said in a statement. The Bengaluru-based firm aims to accelerate its growth by ramping up its two-wheeler manufacturing capacity, launching electric motorcycles followed by electric cars and fast-tracking the construction of gigafactory, it added. "At Ola, our vision is to end ICE (internal combustion engine) age in automobiles and our upcoming gigafactory will be a big leap in India's journey towards becoming a global EV hub. We are committed towards developing core technologies in EVs and cell and are rapidly scaling up manufacturing to further accelerate the transition to ..

Ola Electric to Ather Energy: EV players 'fully refund' wrongful claims

Though the defaulter companies have repaid the Rs 312.42 crore in full, only Rs 183.15 crore has actually reached the customers, the Ministry of Heavy Industries data show

Ather Energy planning to set up new manufacturing plant to expand capacity

Apart from this, Ather Energy is also looking at the possibility of expanding to the global markets

Ola launches all-electric on-demand parcel delivery service in Bengaluru

The Ola Parcel service will be available across Bengaluru at prices which will be as low as Rs 25 for 5 km, Rs 50 for 10 km, Rs 75 for 15 km, and Rs 100 for 20 km

Two-wheeler majors TVS, Bajaj Auto close the gap with startups in EV game

Bajaj Auto has virtually closed the gap with Ather Energy in September, notching up 6423 EV registrations compared to 6466 registrations by Ather as on Thursday

Indian startup funding hits 5-year low in Q3 2023 at $1.5 bn: Tracxn

The quarter saw five funding rounds cross the $100 million mark, including the likes of Perfios, Zepto, Ola Electric, Ather Energy and Zyber 365

Tamil Nadu firms shine in India's 1 mn EV sales; contribute over 40%

State expects investments worth Rs 50,000 cr in EV manufacturing by 2025

Ola's Bhavish has thrown his might behind e-motorcycles: How serious is he?

Not surprisingly, Aggarwal's rivals are less than charitable towards him and, though they won't come on record while saying this, dismiss Aggarwal's e-motorcycles as "another of his teaser campaigns"

Temasek leads $140 mn Ola Electric funding at $5.4 bn valuation: Report

Ola Electric, founded by Bhavish Aggarwal and backed by Japan's SoftBank Group, has become India's e-scooter market leader with a 32% share

Reliance General Insurance, OLA Electric to enhance 2W customer experience

Under this alliance, both companies will aim to transform the total ownership of OLA customers

Govt tells Ola, Hero Moto, TVS, Ather to pay customers Rs 278 cr by Nov

Move underscores Centre's resolve to ensure compliance with subsidy norms and protect interests of consumers

Top headlines: Gangwal to sell IndiGo shares, India Inc's Q1 result review

Business Standard brings you the top headlines at this hour

Ola to offer e-bikes, cheap e-scooters to phase out petrol two-wheelers

Ola is building what it's touting as the world's largest electric vehicle hub to churn out battery-powered two-wheelers, cars and EV cells, in addition to housing vendor and supplier facilities

ReadyAssist, Ampere collaborate for full-stack after-sales, service support

The partnership will ensure smooth operations and minimal downtime for vehicles, along with improving the customer experience

E-scooter maker Ola Electric targeting $1.5 billion sales this year

The government has said it wants electric variants to account for 70% of two-wheeler sales - which also include motorcycles - by 2030, a huge jump from 14% currently

Ola Electric founder Bhavish advances plan for IPO as e-scooters take off

The company, whose backers include SoftBank Group Corp. and Tiger Global Management, has become leader in India's electric-scooter market with a 38% share

Tamil Nadu may attract 35% of all EV investments in India till 2030

State sees Rs 43,000 crore investment in two years; Hyundai, Ola, Ather among major players

FAME subsidy cut, subsequent price hike take e-scooter sales down 61% MoM

The dip in sales has come after electric two-wheeler manufacturers hiked the prices of their products by 15-18 per cent

Riding your 2-wheeler without a helmet? Ola's upcoming tech won't allow it

Ola is not the only company making advances in this technology. TVS also recently announced that it was working to build a camera-based helmet reminder system

iPhone maker Foxconn to start making electric vehicles in India: Report

The company is keen on setting up its plant in Maharashtra but due to some challenges, it may consider Tamil Nadu as its auto manufacturing hub