Indian e-scooter maker Ola Electric expects revenue to quadruple to $1.5 billion (nearly Rs. 12,300 crore) this financial year and then double that again in two years, according to a document containing corporate projections and people briefed on the matter. The figures, however, pre-date surprise cuts by the federal government…
Ola Electric Mobility is in line for an initial public offering sooner than its founder previously imagined, reflecting the Indian startup’s whirlwind pace of growth since it started selling electric scooters in late 2021. “I thought it would take me four to six years of revenue to go public,” Founder…
Ola Electric on Thursday said it will reimburse its buyers of electric scooters the cost of chargers. In a statement on Twitter, the company said the electric vehicle industry has witnessed unprecedented success in the last couple of years despite attempts from vested interest groups, like the recent narrative on…
SoftBank Group-backed Ola Electric would invest $920 million (roughly Rs. 7,600 crore) in the southern Indian state of Tamil Nadu to manufacture electric cars and batteries for electric vehicles (EVs), a state government statement said on Saturday. Ola will invest $920 million (roughly Rs. 7,600 crore) through its subsidiaries Ola Electric…
The Tamil Nadu government on Tuesday unveiled its electric vehicle (EV) policy 2023 which aims to garner investments to the tune of Rs. 50,000 crore and generate 1.50 lakh jobs, in a boost to the EV industry. Chief Minister M K Stalin formally released the new policy in the presence…
Tesla’s former India policy chief is joining homegrown electric scooter startup Ather, one of the best-funded fledgling firms in a sector attracting record investment. Manuj Khurana, who quit his post as Tesla’s local head of policy and business development in June, will start next week at the firm based in…
India’s Hero Moto, the world’s biggest motorcycle maker by sales, launched its first electric scooter worldwide on Friday as it looks to catch up with newer businesses that have taken the lead in the shift to cleaner transport. Like some other legacy automakers in India, Hero has been a laggard…
India’s Ola will cut about 200 engineering jobs to reduce redundancy across its two main businesses of ride-hailing and electric vehicle manufacturing, the SoftBank Group-backed company said on Monday. The company said it is focussed on being a “vertically integrated mobility company” and is centralising operations to build a structure…
Ola S1 Pro electric scooters are reportedly receiving an upgrade to the vehicle control unit (VCU) in order to accommodate future updates and to mitigate heating issues, pre-emptively preventing further recalls. New Ola S1 Pro units are being shipped with an upgraded VCU with more RAM and onboard storage, according…
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