Page 7 - Ola

'We can live without FAME regime', says Ola CEO Bhavish Aggarwal

'S1 Pro currently has volumes of 20,000 to 30,000 a month'

Ola commences construction of its 100GWh gigafactory at Tamil Nadu facility

Electric vehicle company Ola on Wednesday said it has commenced construction of its 100 GWh gigafactory at its manufacturing facility in Tamil Nadu. The company has installed the first pillar of its cell factory in Krishnagiri, Tamil Nadu today. A gigafactory is a facility where equipment and components related to electrification and decarbonisation technologies are manufactured. In February, Ola signed a memorandum of understanding with the Tamil Nadu government committing investments of Rs 7,614 crore for manufacturing electric cars, two wheelers and lithium cell gigafactories in the state. Spread across 115 acre, the Ola Gigafactory is expected to commence operations by early next year with an initial capacity of 5 GWh (Giga Watt hours). It would be scaled up to 100GWh in phases, a company statement said. On commencement of operations at full capacity, it is claimed that the factory would be one of the world's largest cell manufacturing facilities. "This is a proud moment for

Everest Fleet raises $20 mn led by Uber, to expand operations, supply pool

Fleet management company Everest Fleet on Wednesday said it has closed a $20 million funding round led by Uber

Delhi govt to ask bike-taxi aggregators Ola, Uber to stop operations

The Delhi government on Tuesday said it will ask bike-taxi aggregators to stop operations in the national capital till a policy is notified, a day after the Supreme Court stayed a High Court order that had allowed them to ply. Transport Commissioner Ashish Kundra said the government will write to aggregators and also appeal to them through the media to comply with the apex court order or face action. The Supreme Court on Monday stayed the High Court order that allowed bike-taxi aggregators Rapido and Uber to operate in the national capital. The SC's ruling is binding on all, Kundra said. "The submission of the department in the court was that we have already floated a draft scheme and the scheme is going to be finalised soon. In absence of any scheme and regulatory framework, the companies are overstepping their mandate by offering such services in absence of any permits or registration from the Transport Department," he told PTI. Kundra said the companies are free to give their .

Authorities to impound bike taxis if Uber, Ola do not comply with Delhi ban

India's top court on Monday backed the city government's ban on bike taxis in a setback for U.S. ride-hailing company Uber which had legally challenged authorities to continue offering the services

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 Electric gears up for India's largest automotive IPO by early 2024

Ola Electric founder Bhavish Aggarwal owns about 40% stake in the firm at present

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

Netflix, Ola, Uber not integrated with PIPOnet app, says NuRe Bharat CEO

3i Infotech-led consortium NuRe Bharat Network has not integrated Netflix, Ola, Uber or any other company with its PIPOnet app, a senior official of the company said. NuRe Bharat Network and RailTel on Monday unveiled PIPOnet mobile app with aims to provide all services, including e-ticketing, travel, stay reservations, and entertainment apps, for railway passengers. The company in its presentation had used the names of Netflix, Uber, Ola as partners on PIPOnet app. "Nure Bharat Network would like to clarify that Netflix, Ola, Uber and any other company names that have been used were only mentioned as part of an example to introduce the kind of integrated entertainment, travel and other facilities that PIPOnet will be providing. We have not yet onboarded or integrated with any other company as it cannot be done without a partnership agreement," NuRe Bharat Network, Chief Executive Officer, Sax Krishna said in a statement. NuRe Bharat has bagged exclusive rights to sell and monetise

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

E2W makers gear up for scale, hope FAME will continue to fuel operations

The key to increasing volumes is to offer more products at varying price points and expand distribution and markets

FAME-II 'defaulters': Hero Electric, Okinawa to get subsidy recovery shock

Notices to Ola Electric, Ather, TVS, Vida for 'breaching' ex-factory price cap

Ease of Moving Index: Here is how people commute in various Indian cities

Agartala has the best walking infrastructure, but overall the condition of footpaths in the country has deteriorated in the last four years

BluSmart seeking to challenge Uber, Ola with an all-electric taxi fleet

A confidential BluSmart investor deck from March, reviewed by Reuters, stated "Uber is losing drivers, riders and market share in India"

18,890 complaints received on National Consumer Helpline since 2017: Govt

The government on Wednesday said 18,890 complaints have been received on National Consumer Helpline since 2017 against cab aggregators Ola and Uber. "441 grievances have been received on PG (Public Grievance) portal and 18,890 complaints received on National Consumer Helpline from January 1, 2017 to March 31, 2023 against Ola and Uber," Minister of State for Food and Consumer Affairs Ashwini Kumar Choubey said in a written reply to Lok Sabha. The Central Consumer Protection Authority (CCPA) has issued notices to Ola and Uber on concerns related with deficiency in service, inadequate consumer grievance redressal mechanism, unreasonable levy of cancellation charge and lack of any information on the algorithm, he added.

Alliance, Zuno tie up to provide personal accident covers to Ola drivers

The initiative, which aims to reach 200,000 Ola drivers across the country, has been powered by Alyve Health platform

Top headlines: Reliance begins price war, ONDC forays into mobility segment

Business Standrd brings you the latest headlines at this hour

India's ONDC forays into the mobility segment; takes on Uber and Ola

Incorporated in December 2021, ONDC said its aims to create a facilitative model that revolutionises digital commerce, giving greater thrust to penetration of retail e-commerce in India

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

We are focused on our users, competitors on us: Ola Electric's Aggarwal

We have disrupted the traditional business model of OEMs and the traditional cosy business relations that this industry has had, says Bhavish Aggarwal, Ola, Co-Founder & CEO