For TVS Motor Co. Ltd, increasing electric vehicle (EV) penetration was flagged as a key risk as the automaker derives a significant portion of its volume from internal combustion engine (ICE) scooters. This segment is the most vulnerable to rising EV adoption. But with TVS focusing on electrification, volumes of its EV product, iQube have […]
Ola Electric to raise $300 mn for expansion plans to meet corporate needs – EQ Mag
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 […]
Ola Electric offers buyers to upgrade S1 scooters with new front fork – EQ Mag
New Delhi : Ola Electric on Tuesday said it is giving an option to buyers to upgrade their scooters with new front fork amidst concern among them regarding safety of the part. In a tweet, the company noted that there have been some concerns amongst the community around the safety of the Ola S1’s front […]
Ola Electric to make S1 Holi special edition scooter – EQ Mag
Ola CEO – Bhavish Aggarwal, has confirmed that a limited-production Ola S1 Holi Edition will be launched soon. As India celebrated the festivals of colours, vehicles showed their colourful sides too. How? Well, they got coloured. It seems like Ola Electric took that as an inspiration. Since, Ola Electric’s CEO – Bhavish Aggarwal, has announced […]
‘EVs won’t need sops once market share surges’ – EQ Mag
Bhavish Aggarwal, the outspoken entrepreneur making rapid strides in the electric two-wheeler industry, is now championing another unusual idea: End subsidies for electric two-wheelers once their market share reaches double digits. The government is encouraging adoption of EVs with subsidies, allocating ₹2,908 crore as EV subsidies for FY23, three-and-a-half times the FY22 allocation of ₹800 […]
Ola Electric scooters sales reach 20,000 units in October – EQ Mag Pro
Ola Electric on Tuesday reported sales of 20,000 units of its electric scooters in October 2022. The company, which sells electric scooters S1 and S1 Pro, said it registered a strong performance during the festive season. It has registered a strong performance during the festive season, recording a 4x growth over its daily run rate […]
Ola Electric plans to hire 3K to focus on non-software engineering domains – EQ Mag Pro
The exercise will impact 10 per cent of the workforce of around 2,000 engineers Ola Electric is cutting 200 jobs, mostly in software development roles, as part of a restructuring exercise while it plans to hire around 3,000 to focus on non-software engineering domains. The company, which sells electric scooters, said it has been increasing […]
Ola Electric to enter electric car segment; to launch first model by 2024
Ola’s first electric car will have the capability to accelerate from 0-100 kmph in four seconds and will have a range of more than 500 kilometers per charge, says CEO Bhavish Aggarwal Ola Electric on Monday said it will foray into the electric car segment with plans to launch its first model by 2024. The […]
Ola electric, Reliance arm, Rajesh Exports sign PLI pacts for batteries – EQ Mag Pro
The government had received 10 bids from companies with offers to set up 128 GWh of battery capacity under the scheme The three selected companies will be manufacturing a total battery capacity of 98 GWh The PLI scheme required the manufacturing facility to be set up within two years with the government disbursing the incentive […]
Ather Energy, Ola Electric see sharpest drop in EV 2-wheeler sales in July – EQ Mag Pro
According to the latest VAHAN data, Ather Energy sold a mere 1,095 EV two-wheelers (till July 30) from 3,829 in June, registering the biggest drop among the EV manufacturers Hero Electric has piped Okinawa Autotech, Ola Electric, and Ather Energy in selling a maximum number of EV two-wheelers in the month of July, with Ather […]