Page 8 - Ola Electric Vehicles

ICAT awards its first PLI Automotive Certificate to Ola Electric Tech

Automotive testing agency International Centre for Automotive Technology on Monday awarded the PLI-Automotive Certificate to Ola Electric Technologies under the production-linked incentive (PLI) scheme. "Ola Electric's Battery Electric Vehicle - 2W (Ola S1 Pro Gen2) met the criteria of minimum DVA (domestic value addition) of 50 per cent for the Automotive PLI certificate, demonstrating their commitment to the indigenisation of advanced automotive technology products," International Centre for Automotive Technology (ICAT) said. Ola S1 Pro (Gen2) two-wheeler, which has been on-road since September 2023, will now be able to avail incentives under the PLI scheme from the date of issuance of the certificate, a senior Ola Electric official said. "With this certificate, which has gone through a process of due diligence, OLA will now be entitled to a Production Linked Incentive (PLI) payable by the Ministry of Heavy Industries," ICAT Director Saurabh Dalela told PTI. ICAT, Manesar, is one

Vedanta, Jindal Power, Ola joins first tranche of critical minerals auction

Mining major Vedanta, Jindal Power and state-owned NLC India are among the players which participated in the first tranche of the auction of critical minerals, Union Minister Pralhad Joshi said on Thursday. A total of 56 bids were received for 20 critical and strategic blocks put on auction in the first tranche launched in November 2023, the minister told reporters after the lunch of the second tranche of the auction of critical and strategic minerals. Around 180 enquiries came from interested parties and 56 bids have been received from companies like Vedanta, NLC, Shree Cement, Dalmia, and Jindal Power, he said. The list includes a number of EV players also like Ola Electric, he said. In the first tranche, 20 mineral blocks including lithium were put on auction. Of these 16 have been put up for grant of composite licence and four for grant of mining lease.

Ola Electric cuts its scooter prices by up to Rs 25,000. Details here

Ola Electric's chairman and managing director Bhavish Aggarwal, in a recent tweet, announced a significant price reduction on their range of e-scooters

The one-in-five achievement

From every fifth car sold this year expected to be electric to the rise of robotrucks, the landscape of sustainable technologies is evolving rapidly

Ola Electric consolidates electric two wheeler leadership with market gain

India's overall electric two-wheeler market in 2023 fell short of the one million mark

Bhavish Aggarwal set to offload 3.48% stake as part of Ola Electric's IPO

Ola Electric founder Bhavish Aggarwal will sell 47.4 million shares in the SoftBank-backed firm, contributing almost half of the OFS

Ola Electric's Rs 5,500 cr IPO to bolster its EV market, say experts

There are two discernible trends in the competitive electric two-wheeler market

Ola Electric slashes sales goals by over half ahead of planned IPO: Report

The scaling back of Ola's targets comes ahead of its $700 million stock market debut plan, even though the SoftBank-backed company, continues to lead the small yet fast growing e-scooter market

Ola Electric transforms itself into a public company ahead of IPO

The IPO may be in the range of $800 million to $1 billion

Ola Electric in 'giga' drive: Rs 3,200 crore to fund its EV business

The funds raised are expected to create an interim event and pave the way for an initial public offering (IPO), which may be in the range of $800 million to $1 billion

In a 1st, Ola Electric rides on festivals to log 200K registrations in a CY

Confirming the milestone, Ola's chief marketing officer, Anshul Khandelwal, said it was a remarkable achievement and in record time

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