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Ola Electric registers whopping Rs 784cr loss in FY22 IPO-bound Ola Electric posted a net loss of Rs 784.1 crore in the financial year FY22, a four times jump from Rs 199.2 crore in FY21. The company finally published its financial results for fiscal year 2021-2022, registering Rs 373 crore in operating revenue during FY22, as compared to Rs 0.86 crore in FY21. As per its FY22 results filed with the Registrar of Companies (RoC), the total expenditure stood at Rs 1,240.4 crore in the reported fiscal year. However, FY22 figures are not co...
Ola Electric registers whopping Rs 784cr loss in FY22
Ola Electric registers whopping Rs 784cr loss in FY22
Source: IANS
11/08/2023 10:36:54 AM
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
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
Ola launches new e-scooter S1 Air, starting at Rs 84,999  EV manufacturer Ola Electric on Thursday launched its much-anticipated Ola S1 Air e-scooter, which comes available in three variants at a starting price of Rs 84,999. The company also expanded its Ola S1 portfolio by launching the new variant at a price of Rs 99,999, which comes powered by a 2kWh battery, and offers an IDC range of 91 km and a top speed of 90 km/hr. The purchase window for the new variant opens from February 9, while the deliveries will begin from March 2023, the ...
Ola launches new e-scooter S1 Air, starting at Rs 84,999
Ola launches new e-scooter S1 Air, starting at Rs 84,999
Source: IANS
9/02/2023 5:05:45 PM
Ola Electric launches new e-scooter for introductory price of Rs 79,999 Ola Electric on Saturday launched an all-new Ola S1 Air electric scooter at a special introductory price of Rs 79,999. The e-scooter weighs 99 kgs and claims to deliver top speed of 85 km per hour, and goes from zero to 40 in just 4.3 seconds. The new S1 Air is built on the S1 platform, is powered by a 2.5KWh battery pack and a 4.5KW hub motor. The new S1 Air offers a two-tone body colour scheme and is available in five colours -- Coral Glam, Neo Mint, Porcelain White, Jet Black and ...
Ola Electric launches new e-scooter for introductory price of Rs 79,999
Ola Electric launches new e-scooter for introductory price of Rs 79,999
Source: IANS
23/10/2022 9:13:18 AM
Hero Electric sells record over 10K EV 2-wheelers in a month, Ola Electric falters Hero Electric once again led the Indian electric vehicle (EV) two-wheeler segment in August, selling a record and highest-ever 10,476 vehicles in one month, followed by Okinawa Autotech at 8,554 vehicles, the latest government VAHAN data has revealed. Hero Electric had sold 8,954 EV two-wheelers in July while Okinawa Autotech had sold 8,096 two-wheelers. Bhavish Aggarwal-run Ola Electric sold 3,421 EV two-wheelers in August, a drop from 3,862 units the company sold in July, indicating t...
Hero Electric sells record over 10K EV 2-wheelers in a month, Ola Electric falters
Hero Electric sells record over 10K EV 2-wheelers in a month, Ola Electric falters
Source: IANS
1/09/2022 4:02:34 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
Ather Energy, Ola Electric see sharpest drop in Electric Vehicle 2-wheeler sales in July Hero Electric has piped Okinawa Autotech, Ola Electric and Ather Energy in selling maximum number of EV two-wheelers in the month of July, with Ather Energy and Ola Electric suffering biggest drop as customers delay purchasing EVs amid battery fire incidents and government probes. 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. The Bhavish Aggarwal-run Ola Elect...
Ather Energy, Ola Electric see sharpest drop in Electric Vehicle 2-wheeler sales in July
Ather Energy, Ola Electric see sharpest drop in Electric Vehicle 2-wheeler sales in July
Source: IANS
30/07/2022 2:24:06 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 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
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