Page 7 - Ola

2024 expected to be year of IPO boom led by new-age firms, say experts

Experts said a combination of various factors including rise of tech firms, investor confidence, a resilient economy and a supportive regulatory environment are propelling growth of India's IPO market

'India's own AI': Ola's Bhavish Aggarwal joins the race with Krutrim

Krutrim has joined the increasingly-competitive AI race dominated by players such as Google, Microsoft and OpenAI

Ola, Uber drivers go on strike demanding better remuneration, bike taxi ban

A large section of cab drivers of Ola and Uber went on a strike on Monday demanding fare regulation, a ban on bike taxi services that they say are eating up their revenue, and stringent action on certain toll booths functioning beyond their contract period. The drivers staged an agitation here urging the state government to immediately intervene and regulate the app-based cab aggregators and to also resolve the issue of high commission charged by the aggregators from them. The All India Road Transport Workers Federation and the Tamil Nadu Urimai Kural Driver Trade Union, which announced the strike has demanded a ban on bike taxi services. The drivers have called for a massive protest in the city on October 18 to highlight their demands. "With the interior areas of Perungudi still lacking connectivity, I usually book a cab to reach my office. Due to the strike I had to depend on an auto, after an agonising wait" says Mahesh, a commuter. P Sridhar of Madipakkam, whose father was ...

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

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"

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

Panel proposes rebate for passengers on cancelled rides on Uber, Ola

A government-appointed committee in Maharashtra suggested a time limit for cab arrival and potential penalties for unfit vehicles on platforms like Uber and Ola

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

Business Standard brings you the top headlines at this hour

TN plans global investors' meet in Jan; attracts Rs 2.73 trillion in 2 yrs

Over 300 MoUs translating into investments worth Rs 3 trillion were signed at the last GIM in 2019

IPO-bound Ola Electric recorded $136 million loss in FY23: Report

The e-scooter maker last year in June issued a statement saying it was "on track to surpass $1 billion run rate by end of this year" and "the future forecast looks even stronger."

Ola denies receiving flood warning over viral video of 350 drowned cabs

The ride-sharing company issued a statement on the viral video that shows 350 submerged cabs. The company claims that it hadn't received any notice from the government authorities

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

In June, industry-wide Indian sales of e-scooters more than halved from May to a six-month low of 45,800 units, government data showed

Top headlines: Ola advances plan for IPO, Govt's FDI push in space sector

Business Standard brings you the latest headlines at this hour

'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