News

2 top-level executives exit IPO-bound Ola Electric Ola Electric has seen two more top-level exits, as it plans for an initial public offering (IPO) in early 2024, the media reported on Saturday. According to a report in Money Control, Slokarth Dash who is head of strategy and planning, and Saurabh Sharda, head of growth and corporate affairs, have moved on. Ola said in a statement that “Slokarth and Saurabh have delivered well for the company for over seven years, and we wish them well in their future pursuits”. The compa...
2 top-level executives exit IPO-bound Ola Electric
2 top-level executives exit IPO-bound Ola Electric
Source: IANS
5/08/2023 4:57:30 PM
Vanguard slashes Bhavish-run Ola`s valuation by 52% at $3.5 bn Leading US asset manager Vanguard has further slashed its holding in ride-hailing major Ola by more than half, which takes Bhavish Aggarwal-run company’s valuation down to nearly $3.5 billion from $7.3 billion at the end of 2021, the media reported on Tuesday. According to a TechCrunch report, citing Vanguard’s filings, the investment firm has cut the worth of its shares in Ani Technologies, Ola’s holding firm, by 51.6 per cent. "The asset manager marked down the ...
Vanguard slashes Bhavish-run Ola`s valuation by 52% at $3.5 bn
Vanguard slashes Bhavish-run Ola`s valuation by 52% at $3.5 bn
Source: IANS
2/08/2023 2:59:34 PM
India`s Rajasthan plans online surcharge for gig workers` welfare fund The Indian state of Rajasthan has approved a bill to impose a surcharge on online transactions via platforms like Amazon, Ola and Zomato to fund welfare benefits for gig workers, the first such scheme in the country. The number of gig workers has grown sharply in India to an estimated 15 million - emerging as a constituency pursued by political parties ahead of elections in five states in the next few months and general elections early next year. The Rajasthan state assembly approved la...
India`s Rajasthan plans online surcharge for gig workers` welfare fund
India`s Rajasthan plans online surcharge for gig workers` welfare fund
Source: Reuters
25/07/2023 5:10:43 PM
Everest Fleet raises $20 mn led by Uber, to boost ride sharing market Fleet management company Everest Fleet on Wednesday said it has closed a $20 million funding round led by Uber. Mumbai-headquartered Everest fleet operates in the shared mobility space in the country and is an existing partner to Uber and Ola. The company said that fresh funds will enable it to expand its operations and grow the overall supply pool available for the ride-sharing industry, where demand continues to outstrip vehicle supply. "This funding round will accelerate our ...
Everest Fleet raises $20 mn led by Uber, to boost ride sharing market
Everest Fleet raises $20 mn led by Uber, to boost ride sharing market
Source: IANS
14/06/2023 1:00:15 PM
US investment firm Vanguard slashes Ola`s valuation by 35%  The US-based investment management company Vanguard has slashed ride-hailing firm Ola's valuation by 35 per cent amid global macroeconomic conditions, reducing its worth to about $4.8 billion. According to a report in TechCrunch, Vanguard cut the valuation of Ani Technologies, Ola's holding firm, by 35 per cent and disclosed this in its report to investors. "It reduced the holding of its Ola shares to $33.8 million from the $51.7 million purchase price, according to a...
US investment firm Vanguard slashes Ola`s valuation by 35%
US investment firm Vanguard slashes Ola`s valuation by 35%
Source: IANS
11/05/2023 10:50:56 AM
Indian taxi startup BluSmart picks EV fight with Uber Indian ride-hailing startup BluSmart is seeking to challenge Uber and Ola for market share in the country with bets on an all-electric taxi fleet and an aggressive bid to lure disgruntled passengers and drivers from the incumbents. A clean energy push by Prime Minister Narendra Modi's government is expected to significantly change India's transport industry in years ahead, with major implications for ride-hailing firms. For dominant players Uber and SoftBank-backed Ola, a full s...
Indian taxi startup BluSmart picks EV fight with Uber
Indian taxi startup BluSmart picks EV fight with Uber
Source: Reuters
19/04/2023 10:23:19 AM
Ola group to invest Rs 7,614 cr in Tamil Nadu for lithium ion cell, EV cars  Electric vehicle (EV) player Ola Electric Mobility Private Ltd. has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest Rs 7,614 crore to make EV cars and lithium ion cells in the state. According to the Tamil Nadu government, Ola Electric Mobility's group companies -- Ola Cell Technologies Private Ltd and Ola Electric Technologies Private Ltd -- will set up the lithium ion cell plant and EV car plant respectively. The Ola Electric Technologies ...
Ola group to invest Rs 7,614 cr in Tamil Nadu for lithium ion cell, EV cars
Ola group to invest Rs 7,614 cr in Tamil Nadu for lithium ion cell, EV cars
Source: IANS
18/02/2023 2:51:24 PM
Key Stock News: Ola, Uber, Godrej Properties , IndiGo , Paytm , Adani - ARETE Securities Ola, Uber drivers fret over 5% convenience fee on each autorickshaw ride                       The Ola Uber Drivers and Owners' Association (OUDOA) and the autorickshaw drivers linked with the ride-hailing companies are apprehensive about the five per cent convenience fee and Goods and Services Tax levied on every autorickshaw ride taken up by passengers. The Karnataka government on November 25 directed the regional transport autho...
Key Stock News: Ola, Uber, Godrej Properties , IndiGo , Paytm , Adani - ARETE Securities
Key Stock News: Ola, Uber, Godrej Properties , IndiGo , Paytm , Adani - ARETE Securities
Source: ARETE Securities Ltd
28/11/2022 9:44:25 AM
 Electric vehicle players welcome government`s decision to defer stringent EV battery standards  Electric vehicle (EV) players on Wednesday welcomed the government's decision to defer the implementation of stringent EV battery testing standards, saying it will help Indian battery makers redesign batteries and introduce safe vehicles on the roads. The Ministry of Road Transport and Highways has deferred the tough EV battery standards (AIS-156 and AIS-038) that were formulated after several battery fires reported in the first six months of the year, shaking customers' trus...
 Electric vehicle players welcome government`s decision to defer stringent EV battery standards
 Electric vehicle players welcome government`s decision to defer stringent EV battery standards
Source: IANS
29/09/2022 9:39:33 AM
Uber asks its India drivers to ensure rear seatbelts in their cars work Ride-hailing company Uber Technologies has asked its drivers in India to ensure backseat seatbelts in their vehicles are accessible to passengers and they work, days after a local business tycoon died in a crash involving his private car. The move comes amid a growing road-safety push in India, the world's fourth-largest car market. Earlier in September, Cyrus Mistry, the former chairman of India's Tata Sons, died in a crash involving his Mercedes, and local media reported he was n...
Uber asks its India drivers to ensure rear seatbelts in their cars work
Uber asks its India drivers to ensure rear seatbelts in their cars work
Source: Reuters
20/09/2022 4:54:57 PM
Insurtech platform Zopper raises $75 mn, plans global expansion  Insurtech platform Zopper on Tuesday said it has raised $75 million in its Series C funding, led by Creaegis with participation from ICICI Venture and Bessemer Venture Partners. The startup aims to utilise fresh funds in cutting-edge technology, business development initiatives, inorganic growth through merger and acquisition (M&A) and global expansion. Zooper said it aims to achieve an annualised Gross Written Premium (GWP) of $500 million by March 2024. "Zopper is br...
Insurtech platform Zopper raises $75 mn, plans global expansion
Insurtech platform Zopper raises $75 mn, plans global expansion
Source: IANS
20/09/2022 11:34:31 AM
Now Ola Electric`s battery unit head Ashok Saraswat moves on There is no stopping resignations of senior executives at Ola Electric and now, its head of advanced battery engineering, Ashok Saraswat, has moved on. Saraswat, who joined SoftBank-backed Ola last year, is set to join a company that is entering the battery business, reported The Economic Times, citing sources. When reached out, Ola Electric did not comment on the development. More than half a dozen senior executives have quit Ola Electric in recent months, as the Bhavish Aggarwal-ru...
Now Ola Electric`s battery unit head Ashok Saraswat moves on
Now Ola Electric`s battery unit head Ashok Saraswat moves on
Source: IANS
31/08/2022 5:26:32 PM
Can Bhavish Aggarwal pull off his electric car dream amid harsh ground realities? As Ola Founder Bhavish Aggarwal shifts gears to give wings to his electric car dream, experts are a little wary of his quick moves on the EV front, as Ola Electric is yet to cement its position in the crowded electric two-wheeler market, amid government scrutiny over 'unfair practices' at the ride-hailing platforms, battery fire probes, hundreds of layoffs and high-profile exits at the company. Aggarwal has pressed the EV accelerator hard while Ola's electric two-wheeler sales ...
Can Bhavish Aggarwal pull off his electric car dream amid harsh ground realities?
Can Bhavish Aggarwal pull off his electric car dream amid harsh ground realities?
Source: IANS
16/08/2022 5:01:44 PM
Bhavish Aggarwal unveils Ola electric car with 500 km range Ola Founder and CEO Bhavish Aggarwal on Monday shifted gears and entered a new territory by showcasing a homegrown electric car that will arrive in the country by 2024. Aggarwal said the Ola Electric car will have a 500-km range on single change and will go from zero to 100 km within 4 seconds. "Designed to deliver a drag coefficient of less than 0.21, it will be the sportiest car ever built in India with an all glass roof," said the company. The car will be equipped with o...
Bhavish Aggarwal unveils Ola electric car with 500 km range
Bhavish Aggarwal unveils Ola electric car with 500 km range
Source: IANS
15/08/2022 3:22:09 PM
India`s Ola and Uber deny report of merger talks Uber Technologies Inc and its Indian rival Ola on Friday denied a media report that the ride-hailing firms were in talks for a merger. An Economic Times report said that Ola Chief Executive Bhavish Aggarwal had met top Uber executives in San Francisco, United States, citing two sources.  "That report is inaccurate. We are not, nor have we been, in merger talks with Ola," Uber said in a statement. Ola's Aggarwal tweeted, "Absolute rubbish. We're very profit...
India`s Ola and Uber deny report of merger talks
India`s Ola and Uber deny report of merger talks
Source: Reuters
30/07/2022 10:48:59 AM
India`s Ola Electric to set up $500 million battery research centre Softbank Group-backed Ola Electric will invest $500 million to set up a battery innovation centre in the southern Indian city of Bengaluru, it said in a statement. The facility will house advanced labs and high-tech equipment for battery innovation, and is part of India's push towards becoming a global electric vehicle hub, said Bhavish Aggarwal, founder and chief executive of Ola Electric. The company will hire senior engineers and research scientists at the facility, potentially o...
India`s Ola Electric to set up $500 million battery research centre
India`s Ola Electric to set up $500 million battery research centre
Source: Reuters
19/07/2022 8:39:39 AM
Ola CEO shares plan on sports car, upcoming update for e-scooters Ola Founder and CEO Bhavish Aggarwal has announced that his company is planning to bring a new electric sports car for Indian consumers. In a series of tweets, Aggarwal also detailed about the upcoming MoveOS 3 update to the S1 series of electric scooters. "We are going to build the sportiest car ever built in India!" the tech honcho wrote on the microblogging platform Twitter. Aggarwal also shared a video on the platform where he tested the Moods feature in the upcoming up...
Ola CEO shares plan on sports car, upcoming update for e-scooters
Ola CEO shares plan on sports car, upcoming update for e-scooters
Source: IANS
17/07/2022 5:15:27 PM
Ola Electric unveils lithium-ion cell, to begin mass production by 2023 Ola Electric on Tuesday unveiled an indigenously developed lithium-ion cell -- NMC 2170 -- and the company will begin the mass production of its cell from its upcoming Gigafactory by 2023. The state-of-the-art High Nickel Cylindrical Ola Cell uses NMC on the cathode side; and graphite and silicon on the anode side. The use of specific chemistry and materials enables the cell to pack more energy in a given space and also improves the overall life cycle of the cell. The cell has been deve...
Ola Electric unveils lithium-ion cell, to begin mass production by 2023
Ola Electric unveils lithium-ion cell, to begin mass production by 2023
Source: IANS
12/07/2022 2:35:08 PM
Ola shuts used car biz, winds up Q-commerce platform Ola Dash Ride-hailing platform Ola has shut down its used vehicle business Ola Cars as well as Ola Dash, its quick-commerce business, at a time when Indian companies are pouring money into the 10-15 minute grocery delivery market. The company shut Ola Cars within one years of its launch, as it focuses on its electric two-wheeler and car verticals. Ola has so far shut down Ola Cafe, food panda, Ola Foods, and now Ola Dash. "Ola has reassessed its priorities and decided to shut down Ola Da...
Ola shuts used car biz, winds up Q-commerce platform Ola Dash
Ola shuts used car biz, winds up Q-commerce platform Ola Dash
Source: IANS
25/06/2022 5:58:35 PM
Okinawa pips Ola Electric to become No 1 electric 2-wheeler brand Despite the incidents of fire, electric two-wheeler manufacturer Okinawa Autotech has overtaken Ola Electric to become India's top electric two-wheeler brand. According to the Federation of Automobile Dealers Associations (FADA), Okinawa Autotech sold the highest total of 9,309 units. Meanwhile, Ola Electric sold 9,225 units last month. In May 2021, Okinawa Autotech sold just 217 units of its electric two-wheeler. The company is aiming to grow its electric vehicle business aggres...
Okinawa pips Ola Electric to become No 1 electric 2-wheeler brand
Okinawa pips Ola Electric to become No 1 electric 2-wheeler brand
Source: IANS
8/06/2022 8:42:16 PM
Ola Electric sees high-profile exits amid larger government scrutiny As the electric e-scooter maker Ola Electric faces government scrutiny and consumer complaints, a couple of its top-notch executives have quit, the latest being its chief marketing officer Varun Dubey. The company confirmed to IANS that Dubey is leaving the company due to "personal reasons". Earlier, Dinesh Radhakrishnan who was the chief technology officer (CTO) at Ola Electric moved on from the company. According to his LinkedIn profile, he was appointed CTO at Ola Electric ...
Ola Electric sees high-profile exits amid larger government scrutiny
Ola Electric sees high-profile exits amid larger government scrutiny
Source: IANS
12/05/2022 11:28:48 AM
Ola Electric pips rivals, becomes top Indian e-scooter firm Ola Electric has grabbed the top spot in the fast-growing electric vehicle (EV) market in India, in just five months of launching its first e-scooter. According to the government's Vahan portal data, Ola registered 12,689 e-scooter units in April, higher than the previous segment leader, Hero Electric. Ola registered 39 per cent growth in April over the previous month. At second spot, Okinawa Autotech registered about 10,000 e-scooters while Hero Electric registered 6,571 units t...
Ola Electric pips rivals, becomes top Indian e-scooter firm
Ola Electric pips rivals, becomes top Indian e-scooter firm
Source: IANS
4/05/2022 8:57:40 AM
Ola Electric set to launch autonomous car in about 2 years Betting big on autonomous mobility, Ola Founder and CEO Bhavish Aggarwal said on Saturday that Ola Electric has started testing an autonomous vehicle which it will launch in the global market in about two years' time. Speaking to reporters at Ola FutureFactory in Krishnagiri district in Tamil Nadu, Aggarwal said that Ola will look forward to launching a car with indigenously-developed autonomous technology that will be a mass-level vehicle. "Ola Electric began testing an autono...
Ola Electric set to launch autonomous car in about 2 years
Ola Electric set to launch autonomous car in about 2 years
Source: IANS
24/04/2022 10:53:28 AM
Softbank-backed Ola Electric faces India probe after e-scooter fire NEW DELHI  - India is investigating how an e-scooter built by Ola Electric caught fire at the weekend, with the government worried the incident could cause panic and hamper growth of the nascent electric vehicle (EV) sector, a top bureaucrat told Reuters. For Prime Minister Narendra Modi's government, EVs are crucial to meeting India's carbon reduction target and reducing its fuel import bill. "If reasons for the damage are not nipped in the bud, it can spread panic af...
Softbank-backed Ola Electric faces India probe after e-scooter fire
Softbank-backed Ola Electric faces India probe after e-scooter fire
Source: Reuters
29/03/2022 8:09:17 PM
Ola Electric to raise e-scooter prices in next purchase window Ola Electric has announced that it will be raising prices of S1 Pro e-scooters in the next purchase window. The firm is slated to commence the next purchase window on March 17-18, coinciding with the Holi festival. Ola CEO Bhavish Aggarwal made the announcement of the price hike on his official Twitter handle. There's no mention of the exact range of the price increase. "Thanks to all who have purchased S1 Pro already and special thanks to those who've bought their 2nd o...
Ola Electric to raise e-scooter prices in next purchase window
Ola Electric to raise e-scooter prices in next purchase window
Source: IANS
18/03/2022 10:01:31 AM
Key News - Ola Ltd , Renault–Nissan Mitsubishi Alliance Ltd , Canara Bank Ltd By ARETE Securities Key News Ola setting up Futurefoundry in UK, creating $100-mn vehicle design centre After raising over $200 million from investors at a $5 billion valuation, Ola Electric, the ride-hailing firm’s electric vehicle (EV) arm, is setting up Ola Futurefoundry, its global centre for advanced engineering and vehicle design. This centre will be based in Coventry, UK, a global hub for the best automotive design and engineering talent in the world. SoftBank-backed Ola will invest over $1...
Key News - Ola Ltd , Renault–Nissan Mitsubishi Alliance Ltd , Canara Bank Ltd By ARETE Securities
Key News - Ola Ltd , Renault–Nissan Mitsubishi Alliance Ltd , Canara Bank Ltd By ARETE Securities
Source: ARETE Securities Ltd
28/01/2022 9:28:58 AM
Ola Electric CEO hints at electric car launch soon Ola Electric is likely working on an electric car as its CEO and Founder Bhavish Aggarwal has dropped hints of the company's prospective entry into the sector. Eeplying to a customer on micro-blogging site Twitter, Aggarwal wrote "Next car replacement should be the Ola electric car". In another post on Tuesday, Aggarwal shared an image of a car. "Can you guys keep a secret?" he captioned the image. Meanwhile, Ola Electric on Monday announced it has raised o...
Ola Electric CEO hints at electric car launch soon
Ola Electric CEO hints at electric car launch soon
Source: IANS
26/01/2022 11:46:04 AM
Key News - Adani Group Ltd , Ola Electric Ltd , Air India Ltd, Axis Bank Ltd , Swiggy Ltd By ARETE Securities Key New Adani to invest Rs 4,600 crore in two data centre projects in Uttar Pradesh The diversified Adani Group is investing more than Rs 4,600 crore in two data centre projects in Uttar Pradesh, a state Cabinet minister said on Sunday. According to UP MSME and export promotion minister Sidharth Nath Singh, Adani Enterprises is setting up two data centres, totalling a cost of Rs 4,646 crore, in Noida sectors 62 and 80 respectively. He claimed UP has so far garnered investment of near...
Key News - Adani Group Ltd , Ola Electric Ltd , Air India Ltd, Axis Bank Ltd , Swiggy Ltd By ARETE Securities
Key News - Adani Group Ltd , Ola Electric Ltd , Air India Ltd, Axis Bank Ltd , Swiggy Ltd By ARETE Securities
Source: ARETE Securities Ltd
25/01/2022 9:31:23 AM
Ola Electric raises $200 mn to reach $5 bn valuation Ola Electric on Monday announced it has raised over $200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others. The latest round values the company at $5 billion. "We have changed the entire scooter industry and are now looking forward to bringing our innovative products to more two wheeler categories including bikes as well as cars. I thank the investors for their support and look forward to partnering with them to take the EV revolution from India to ...
Ola Electric raises $200 mn to reach $5 bn valuation
Ola Electric raises $200 mn to reach $5 bn valuation
Source: IANS
24/01/2022 1:00:45 PM
Ola Futurefactory now producing almost 1,000 e-scooters a day: CEO Ola Futurefactory is now producing almost 1,000 units of its S1 and S1 Pro electric scooters per day, Bhavish Agarwal, Founder and CEO, Ola Cabs, said on Thursday. In a tweet, Aggarwal shared a picture of the scooters with the caption: "Production just for today so far!" "Futurefactory now producing almost 1000 scooters a day. Opening up purchase window for remaining customers soon," he wrote in the tweet. In December end, Ola Electric had revealed that it has dis...
Ola Futurefactory now producing almost 1,000 e-scooters a day: CEO
Ola Futurefactory now producing almost 1,000 e-scooters a day: CEO
Source: IANS
7/01/2022 10:22:06 AM
Key News - Ola Electric, NTPC Ltd, Bajaj Auto Ltd, Amara Raja Batteries Ltd, Foxconn Group By ARETE Securities Key News Ola Electric to have 4,000 EV charging points in 2022: CEO Bhavish Aggarwal 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 up through next year. We're installing across India an...
Key News - Ola Electric, NTPC Ltd, Bajaj Auto Ltd, Amara Raja Batteries Ltd, Foxconn Group By ARETE Securities
Key News - Ola Electric, NTPC Ltd, Bajaj Auto Ltd, Amara Raja Batteries Ltd, Foxconn Group By ARETE Securities
Source: ARETE Securities Ltd
30/12/2021 9:43:09 AM
IPO-bound Ola raises $500 mn, to accelerate future mobility IPO-bound mobility platform Ola on Thursday said it has raised $500 million via a Term Loan B (TLB) from international institutional investors. According to the company, the proposed loan issuance received a staggering response from investors with interest and commitment of approximately $1.5 billion. "The overwhelming response to our term loan B is a reflection of the strength of our business and our continued focus on improving unit economics alongside rapid growth," said Bh...
IPO-bound Ola raises $500 mn, to accelerate future mobility
IPO-bound Ola raises $500 mn, to accelerate future mobility
Source: IANS
16/12/2021 2:07:18 PM
Indian ride hailing firm Ola raises $500 million loan BENGALURU - Indian ride-hailing company Ola said on Thursday it had raised $500 milllion loan from international institutional investors, as the SoftBank Group backed start-up preps to make its stock market debut next year. Ola, which has a majority share of India's ride-hailing market where it competes with Uber Technologies, has plans to raise up to $1 billion through an initial public offering. Earlier this month, Ola Chief Executive Officer Bhavish Aggarwal said the company...
Indian ride hailing firm Ola raises $500 million loan
Indian ride hailing firm Ola raises $500 million loan
Source: Reuters
16/12/2021 12:12:24 PM
Ride-hailing firm Ola plans IPO in first half of 2022, readies 'super app' Indian ride-hailing company Ola plans to go public in the first half of 2022, Chief Executive Officer Bhavish Aggarwal said on Thursday, undeterred by the recent volatility and lackluster listing of some start-ups in the country. Ola, backed by Japan's SoftBank Group, is also gearing up to create something of a "super app" with plans to broaden its services beyond mobility to include personal finance and micro insurance, Aggarwal told the Reuters Next conference. "We ...
Ride-hailing firm Ola plans IPO in first half of 2022, readies 'super app'
Ride-hailing firm Ola plans IPO in first half of 2022, readies 'super app'
Source: Reuters
2/12/2021 3:56:43 PM
Key News - Ola, Macrotech Developer Ltd, Samsung, Panasonic Energy India company Ltd, Shakti Pumps Ltd By ARETE Securities Key News Ola to invest up to Rs 786 crore in Ola Financial Services Ola is making an investment of up to Rs 786.1 crore in Ola Financial Services (OFS), which will now become a 100 per cent subsidiary of the ridehailing platform, as per regulatory documents. As per documents submitted by ANI Technologies (which operates Ola) to the Registrar of Companies (RoC), Ola has received the nod to "make an investment in Ola Financial Services Pvt Ltd up to Rs 786,64,12,400 in-kind consider...
Key News - Ola, Macrotech Developer Ltd, Samsung, Panasonic Energy India company Ltd, Shakti Pumps Ltd By ARETE Securities
Key News - Ola, Macrotech Developer Ltd, Samsung, Panasonic Energy India company Ltd, Shakti Pumps Ltd By ARETE Securities
Source: ARETE Securities Ltd
1/12/2021 9:33:57 AM
Ola e-scooter rides to be available in 1,000 cities by Dec 15 Electric vehicle (EV) manufacturer Ola Electric on Saturday announced that customers in over 1,000 cities and towns will be able to test ride and experience the Ola S1 electric scooter. The test rides will be initially open only for those who have purchased or reserved the Ola S1 and S1 Pro scooters. "Amazed and proud to see the strong response to our S1 test rides! Thousands of you have tried and loved it!" Bhavish Aggarwal, Founder and CEO, Ola tweeted. "We are now e...
Ola e-scooter rides to be available in 1,000 cities by Dec 15
Ola e-scooter rides to be available in 1,000 cities by Dec 15
Source: IANS
20/11/2021 5:59:39 PM
Local firm Bounce set to give tough competition to Ola Electric Ola Electric is set for some tough local competition as smart mobility solution company Bounce on Saturday announced the launch of its first electric scooter called Bounce Infinity. Industry sources told IANS that the Bounce e-scooter will be launched later this month, and pre-booking will begin from December first week and deliveries to start by January. The e-scooter without battery will be available for under Rs 50,000 (swappable battery option) and around Rs 70,000 for a fixed batte...
Local firm Bounce set to give tough competition to Ola Electric
Local firm Bounce set to give tough competition to Ola Electric
Source: IANS
13/11/2021 1:41:49 PM
Softbank-backed Ola unveils first operating profit ahead of potential IPO NEW DELHI - Indian ride-hailing company Ola, backed by Japan's Softbank Group, has notched up its first-ever operating profit since beginning operations a decade ago, company documents showed on Tuesday. Ola, which has a majority share of India's ride-hailing market, where it competes with Uber Technologies, has a growing presence in several global markets such as Australia and Britain. Ola reported standalone operating profit or EBITDA (earnings before interest, tax, depre...
Softbank-backed Ola unveils first operating profit ahead of potential IPO
Softbank-backed Ola unveils first operating profit ahead of potential IPO
Source: Reuters
2/11/2021 2:23:47 PM
Sell only electric 2-wheelers in India post 2025, says Ola Chairman  Ola Chairman and Group Executive Officer Bhavish Aggarwal is of the view that the industry and consumers should come together and commit towards the selling only electric two-wheelers in India after 2025. In a blog after the launch of Ola's electric scooters, Aggarwal announced 'Mission Electric'. "We are taking this moment to announce 'Mission Electric', a pledge that no petrol two-wheeler will be sold in India after 2025. This is a mission that we are pu...
Sell only electric 2-wheelers in India post 2025, says Ola Chairman
Sell only electric 2-wheelers in India post 2025, says Ola Chairman
Source: IANS
16/08/2021 9:26:38 AM
Ola to launch electric scooters on Aug 15  Electric scooter maker Ola Electric Mobility Pvt Ltd will launch its models on August 15, said Bhavish Aggarwal, Chairman and Group CEO of the company. "Thanks to all who have reserved our scooter! Planning a launch event for the Ola Scooter on 15th August. Will share full specs and details on product and availability dates. Looking forward to it," Aggarwal tweeted on Tuesday Cagey about the vehicle specifications and the price, the company had said that the pricing will...
Ola to launch electric scooters on Aug 15
Ola to launch electric scooters on Aug 15
Source: IANS
4/08/2021 9:41:19 AM
Ola scooter receives 100K bookings in a day Ride-hailing major Ola on Saturday announced that its electric scooter has received a record-breaking 100,000 reservations within the first 24 hours, making it the most pre-booked scooter in the world. Ola Electric opened the reservation for its electric scooter on the evening of July 15. It can be reserved for Rs 499 via its official website -- olaelectric.com. "I am thrilled by the tremendous response from customers across India for our first electric vehicle. The unprecedented d...
Ola scooter receives 100K bookings in a day
Ola scooter receives 100K bookings in a day
Source: IANS
17/07/2021 1:06:10 PM
Key News - Digital payments, Ola, Competition Commission of India, Life Insurance Corporation of India, Reliance Jio, NMDC Ltd by ARETE Securities Key News Digital payments start-up MobiKwik files for Rs 1,900-crore offering Fintech firm MobiKwik on Monday filed a draft red herring prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (Sebi), for its initial public offering (IPO). According to its DRHP, the company plans to raise Rs 1,900 crore, which includes a fresh issue of Rs 1,500 crore and an offer for sale of Rs 400 crore. The selling shareholders include American Express Travel, Bajaj Finance...
Key News - Digital payments, Ola, Competition Commission of India, Life Insurance Corporation of India, Reliance Jio, NMDC Ltd by ARETE Securities
Key News - Digital payments, Ola, Competition Commission of India, Life Insurance Corporation of India, Reliance Jio, NMDC Ltd by ARETE Securities
Source: ARETE Securities Ltd
13/07/2021 8:50:58 AM
Ola raises $500 mn ahead of IPO Ola on Friday said that Temasek and Plum Wood Investment Ltd, an affiliate of global private equity fund Warburg Pincus have partnered with Ola founder Bhavish Aggarwal for a $500 million investment, as the ride-hailing platform plans an IPO. According to the company, this is among the largest investments in the Indian consumer internet space by these funds. "Over the last 12 months, we've made our ride hailing business more robust, resilient and efficient. With strong recovery...
Ola raises $500 mn ahead of IPO
Ola raises $500 mn ahead of IPO
Source: IANS
10/07/2021 9:01:36 AM
India`s Ola says Temasek, Warburg Pincus investing $500 million in company BENGALURU- Indian ride-hailing firm Ola, backed by Japan's SoftBank Group Corp, said on Friday private equity firms Temasek and Warburg Pincus are investing $500 million in the startup ahead of its planned initial public offering.
India`s Ola says Temasek, Warburg Pincus investing $500 million in company
India`s Ola says Temasek, Warburg Pincus investing $500 million in company
Source: Reuters
9/07/2021 12:45:23 PM
Ola unveils electric two-wheeler charging network Ola on Thursday unveiled the 'Hypercharger Network', a charging network for its upcoming two-wheeler products starting with the Ola Scooter to be launched in India in the coming months. According to the company, the charging network will be the widest and densest electric two-wheeler charging network in the world, with more than 100,000 charging points across 400 cities. In the first year alone, the company is setting up over 5,000 charging points across 100 cities in India, the...
Ola unveils electric two-wheeler charging network
Ola unveils electric two-wheeler charging network
Source: IANS
23/04/2021 11:41:31 AM
Assam signs MoU with Ola for app-based river taxi service The Assam government and Ola, one of the world's largest and India's leading ride-sharing companies, on Sunday signed an MoU to pilot an app-based river taxi service here. The MoU has been signed in the presence of state Transport and Industry Minister Chandra Mohan Patowary and Ola's Vice President, Operations, Vijay Ghadge at the ongoing Global Investors Summit: Advantage Assam' here. Ola had launched its app-based taxi services in the state in December 2014, offerings...
Assam signs MoU with Ola for app-based river taxi service
Assam signs MoU with Ola for app-based river taxi service
Source: IANS
5/02/2018 9:31:34 AM