Reliance Industries and Ola Electric will receive incentives under government’s $2.4-billion programme to boost local battery cell production after winning a tender, four sources said. The winning bidders also include Hyundai Global Motors Company and jewellery maker Rajesh Exports, the sources said. The Indian government last year finalised a programme to encourage companies to make […]
Softbank-backed Ola Electric plans 50Gwh India battery plant in EV puss – EQ Mag Pro
NEW DELHI : Softbank Group-backed (9984.T) Ola Electric plans to build a battery cell manufacturing plant in India with a capacity of up to 50 gigawatt hours (GWh), a source told Reuters, as part of its broader electrification push. Ola will need 40Gwh of battery capacity to meet its annual target to produce 10 million […]
Valued at $5 bn, Ola Electric raises $200 million – EQ Mag Pro
Ola Electric has raised over $200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others. The latest round has seen the company’s valuation going up to $5 billion. Ola Electric on Monday announced it has raised over $200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others. The latest round has […]
Ola Electric Says Dispatched E-Scooters To All Buyers, To Open Next Purchase Window ‘Very Soon’ – EQ Mag Pro
The company, after opening bookings at Rs 499, had initially planned to start deliveries in October but was later pushed to November and then again to the second half of December. Ola Electric has dispatched its electric scooters to all who have purchased and it will be opening the next purchase window very soon, Ola […]
Ola Electric to have 4,000 EV charging points in 2022: CEO Bhavish Aggarwal – EQ Mag Pro
As part of its ambitious charging infrastructure goal, Ola Electric will install more than 4,000 charging points for its electric scooters across cities in next year. In a tweet, Bhavish Aggarwal, Founder and CEO, Ola, said that Hypercharger roll out has begun across cities. “At key BPCL pumps as well as residential complexes. 4000+ points […]
Ola Electric lands $200 million funding from Falcon Edge, SoftBank and others at $3 billion valuation – EQ Mag Pro
The funds raised will be used to accelerate development of other vehicle platforms including electric motorbike, mass market scooter and its electric car. Ola Electric said on September 30 that it has raised over $200 million financing led by Falcon Edge, SoftBank and others, at a valuation of $3 billion. The funds raised will be […]
Eye on Ola Electric challenge? Hero Electric to ramp up production big time – EQ Mag Pro
Hero Electric’s Ludhiana plant currently has an installed production capacity of one lakh units per year. After the current expansion plan to a capacity of over five lakh units a year, Hero Electric will further expand its capacity to build over one million vehicles every year. As the competition with cab-aggregator tuned EV maker – […]
Ola Electric sells scooters worth Rs 600 cr in 24 hrs, 4 units every second – EQ Mag Pro
Ola Electric, which had to defer e-scooter sales due to a website glitch last week, opened the purchase of Ola S1 and S1 Pro on Wednesday. The purchase can be made exclusively on the Ola app and the process is completely digital Ola Electric on Thursday said that it sold scooters worth over Rs 600 […]
Ola Electric, the dark horse in the two-wheeler stable? – EQ Mag Pro
The electric two-wheeler space has been the focal point for testing electric vehicle penetration in India’s huge auto market. The scooter segment within two-wheelers could face the first pressure because of the new electric vehicle (EV) launch. Scooters formed about 30% of Indian two-wheeler demand in FY21, and TVS Motors Co. is one of the […]
Auto Companies Aiming to Import Vehicles Into India Should Invest Here: Ola CEO
Ola Electric has launched its first-ever electric scooter S1 and S1 Pro at ₹99,999 and ₹129,999 respectively on Sunday. Just a few days ago, Tesla CEO Elon Musk demanded the customs duty on imported electric cars in India be reduced. He found support from Volkswagen as well that plans to bring a host of electric […]