Page 10 - Ola Electric Vehicles

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 ..

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 Electric eyes IPO filing by end-October in expedited listing plan

Backed by investors including Singapore's Temasek and Japan's SoftBank, Ola Electric was valued at $5.4 billion in a recent fund raising

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"

Ola Electric registers over 400% growth in Aug; gears up for festive season

Ola which competes with players such as Ather Energy, Okinawa, Hero Electric and TVS Motor company said it has maintained a market share of about 30 per cent during August

Ola Electric versus Ather: How their strategies are starkly different

Bhavish Aggarwal of Ola and Tarun Mehta of Ather appear to have a lot in common, until you see the sharp strategic differences

Time to shut down production of ICE scooters: Ola Electric CEO Bhavish

Aggarwal believes that Ola's new range of electric two-wheelers could bring most customers into the EV fold

We will reinvent the motorcycle category for the world: Ola Electric CEO

Ola unveils e-bike, cheapest e-scooter

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

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

Chandigarh to stop registration of non-electric two-wheelers by July

The policy is part of the Chandigarh administration's plan to reduce pollution and move towards green mobility

Ola Electric to start meeting investors for IPO next week in Singapore

With the IPO still some way off, Ola is embarking on investor meetings earlier than usual to explain the business potential of India's nascent EV market

Ola Electric likely to cross $1 billion revenue-mark: CBO Ankush Aggarwal

The firm is leading in the electric two-wheeler segment and has sold over 35,000 units in May. Riding on its highest-ever monthly sales in May, Ola has captured a market share of over 30 per cent

Ola announces price hikes for its electric scooters, to cost Rs 15k more

The reduction in subsidies is expected to trigger a wave of price hikes in electric scooter prices across the industry

Mitsubishi, Tesla, Ola Electric to bid for India's lithium reserves

Automakers appear to be at the forefront of bidders for the recently uncovered lithium reserves in the Jammu and Kashmir region

Ola launches 'Prime Plus' cabs for cancellation-free rides; details here

Ola will not hire new drivers or vehicles for the new service and would instead rely on its existing fleet, sources said

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

Electric two-wheeler sales skid by nearly a fourth in April: VAHAN data

Govt's punitive action leads to a big dent in registrations

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

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