Ola Electric Vehicles

Ola Electric to raise $300 mn for expansion plans to meet corporate needs

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 bank Goldman Sachs, and the funds would be raised from existing and marquee global investors and sovereign funds, the sources added. With close to a billion dollar annual revenue run rate, Ola Electric led the pack of Indian EV manufacturers by volume and revenue within a year of beginning deliveries of its electric scooters -- Ola S1 and Ola S1 Pro. The company has been building on its plan to develop core technologies like cell manufacturing, and is looking to expand its product portfolio across segments of two-wheelers and four-wheelers. Ola Electric had recently signed an MoU with the Tamil Nadu government to acquire land to set up

Ola Electric offers buyers to upgrade S1 scooters with new front fork

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 fork arm. "We assure you that this is unfounded. At Ola, all components of our scooters, including the front arm, are thoroughly tested under extreme conditions and are engineered with a factor of safety much higher than the typical loads encountered on vehicles," the Bengaluru-based company stated. However, as part of continuous engineering and design improvement process, the company has recently upgraded the front fork design to enhance the durability and strength even further, it added. "To alleviate any concerns that you or any of our community members might have, we are giving an option to our customers to upgrade to the new front fork," the company said. This upgrade will be free of cost a

FAME investigations: Subsidy crunch hurting electric two-wheeler makers

Given the development, industry insiders say that the 1-million-unit target this fiscal year may not be achieved

FAME: Electric 2-wheeler manufacturers deny allegations of non-compliance

Allegations have been made that the manufacturers are availing subsidy benefits without complying with the localisation requirements

Ola Electric unveils 5 electric motorcycles, launch planned next year

Ola said the success of the S1 Pro and S1 have cemented its market leadership

Eye on untapped market, nine e-bikes to turn up the heat in 2023

The new launches will be from the two significant companies already selling e-motorcycles -- Revolt Motor, the largest in this segment, and Tork Motor - as well as from others

Ola Electric Profitable on Unit Sales: Chief marketing and revenue officer

"Through volume numbers and unit sales one can see, we are not making a loss," says Anshul Khandelwal

Motorbikes, CVs to lithium-ion cells: Ola Electric's focus for 2023

The SoftBank-backed firm is also on track to bring electric cars to market by 2024

Ola Electric launches third software update for its e-scooter customers

Upgrade will give vehicles more than 50 features and improvements, says company

Move to block Rs 1,100 crore subsidy for EV players arbitrary, says SMEV

Manufacturers had already been passed on subsidy amounts to customers, can't sustain any further and are planning go stop operations

Ola Electric scales up as it plans to gain a lead over competitors

Company will be adding in-house manufacture of motors as well as cells, which account for the bulk of the cost of a scooter

Mulling an IPO for Ola ride-share business next year, says Bhavish Aggarwal

'Looking at synergies with EV business, will announce details soon'

Ola Electric making plans to ensure a stable supply of raw materials

The company is the only two-wheeler electric vehicle (EV) player, which has decided to manufacture the cell and control its technology - that are crucial components for making the battery

Ola Electric on track to open 200 experience centres by end of 2022

The experience centres will enable customers to touch and feel Ola scooters, clarify their queries, and avail support both before and after purchase

Ola Electric to charge up capacity to 4 mn; may roll out e-cars from 2024

Ola Electric plans to eventually have the capacity to produce 10 mn two-wheelers, 1 mn cars

Top electric vehicle makers rev up projections, see higher sales

Manufacturers say 1.5 million two-wheelers could be sold in FY24

Ola shuts in-car infotainment service launched in 2016 as global first

Industry sources say the service was not proving any value to the ride-hailing company

Tesla's former India policy chief to join e-scooter start-up Ather

Manuj Khurana, who quit his post as Tesla's local head of policy and business development in June, will start next week at Ather Energy

Ola Electric crosses 1 lakh production mark, says CEO Bhavish Aggarwal

The company sells three models of Ola electric scooters, Ola S1, Ola S1 Pro and Ola S1 Air

Indian EV makers 'not doing it right', says Gogoro CEO Horace Luke

Luke on Thursday launched Gogoro in India with a pilot project in collaboration with ZyppElectric