OLA ELECTRIC SCOOTER
Vadodara man tests Ola EV in flooded street. Here's why you shouldn't mimick him
In Gujarat, a man tests an Ola electric scooter in flooded streets, sparking concerns about water damage risks from hidden dangers like potholes and sewer covers.
India needs to build its own EV paradigm, products, and core technology in the EV stack: Bhavish Aggarwal, Ola
This is the start of the EV penetration. India is the world's largest two-wheeler market. 20 million two-wheelers are sold a year. Over time, EV penetration will grow to a much larger percentage in the overall industry and there is no single company that can achieve that full transition, says Bhavish Aggarwal,
Ola Electric to invest $100 mn in first phase of Gigafactory, says Bhavish Aggarwal
Ola Electric, the electric vehicle manufacturer, plans to invest $100 million in the first phase of building its Gigafactory for producing lithium-ion battery cells. The investment will be used for 'phase 1A' of the Gigafactory, which will set up 1.5 GWh of cell manufacturing capacity. The aim is to expand capacity to 5 GWh in 'phase 1B'.
Ola Electric to invest $100 million in gigafactory
Ola Electric founder Bhavish Aggarwal said is developing a 4680 form of battery cells, which is more energy-dense and advanced than the 2170 form of battery cells it currently sources for its electric scooters.
Matter Motors raises Rs 82 crore from Japan Airlines & TransLink Innovation Fund, others
Matter Motors secures significant funding from diverse investors, propelling expansion plans. With a competitive market landscape, the company aims to deliver innovative electric motorcycles globally, targeting European markets like Turkey and Spain for growth.
Ola Electric is said to face investor pushback on IPO valuation
Ola Electric Mobility is encountering resistance from investors regarding its targeted valuation for the upcoming initial public offering. According to sources familiar with the matter, the company's founder is aiming for a valuation of up to $7 billion in the Mumbai listing. However, initial feedback from investors suggests a valuation closer to $5 billion. The sources requested anonymity as the information is not public.
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Ola Electric secures Sebi approval for Rs 5,500 crore IPO
Ola Electric's IPO would be the first by an EV startup in the country and amongst the biggest new-age IPOs this year. The Bengaluru-based company had filed its DRHP with Sebi on December 22, proposing to raise up to Rs 5,500 crore through a fresh issue, apart from an OFS component of 95.2 million shares.
Ola plans to launch four electric motorcycles, to start delivery of Ola S1 X models from FY25
Ola Electric has received SEBI approval for its IPO, aiming to raise up to Rs 5,500 crore through fresh equity and an offer for sale. The EV maker plans to expand its product line with new motorcycles and scooters while boosting production capabilities.
Ola Electric gets Sebi nod for public offer
Ola Electric, set for a $6 billion IPO, plans layoffs amid IPO filings by Swiggy and FirstCry.
Ola Electric secures Sebi nod for Rs 5,500-crore IPO
Ola Electric has received approval from Sebi for the first EV startup IPO in India. This would be among the biggest new-age IPO in India this year. Swiggy and FirstCry have also filed their draft IPO paper and awaiting regulatory clearance. The Bengaluru-based company is eyeing a $6-billion valuation through the public offering.
Sachin Bansal exits Ather Energy selling remaining stake to Hero MotoCorp, Nikhil Kamath
Hero MotoCorp bought this stake at an inferred valuation of Rs 5,636 crore. This is a premium to the Rs 4,666-crore valuation at which the company had invested Rs 140 crore in Ather in December 2023.
Hero MotoCorp invests Rs 124 crore into Ather Energy, valuation up 20% at Rs 5,636 core
Hero MotoCorp has invested Rs 124 crore into Ather Energy, a significant electric scooter manufacturer, increasing its share by 2.2% and solidifying its position as the largest shareholder. This investment, made at an inferred valuation of Rs 5,636 crore, underscores Hero's commitment to the electric vehicle market.
Ola Electric eyes leaner road to profitability, to cut 400-500 roles
Ola Electric, eyeing an IPO, is reportedly trimming its workforce by 400-500 employees to streamline operations. This number may change as the senior leadership is still concluding the scale of the layoffs. They are expected to hit multiple verticals, sources told ET.
Brands by scions attract VC money; Ola Electric layoffs
Happy Monday! A new wave of brands founded by second generation entrepreneurs is snagging venture capital. This and more in today’s packed edition of ETtech Morning Dispatch.
Ather Energy raises Rs 286 crore from founders and Stride Ventures
Ather Energy raised Rs 286 crore from founders and Stride Ventures through a mix of debt and equity funding, including series F and series C3 investments.
Hero MotoCorp planning to launch electric two wheelers in mid and affordable segment
Hero MotoCorp plans to launch electric vehicles in the mid and affordable segment, aiming for international sales growth. CEO Niranjan Gupta expresses optimism about industry growth and Q4 profits, facing competition from TVS Motor, Bajaj Auto, Ather Energy, Ola Electric.
Okaya EV MD Anshul Gupta reveals company's future strategy, says not in a price war with Ola
Okaya launches premium brand Ferrato with Disruptor electric bike. Anshul Gupta discusses future plans, FAME subsidy, market share changes, network expansion. Focus on premium products, impact of subsidies, resale value, and EV chargers standardization.
Electric bike sales decline 50% in April amid subsidy changes
Electric two-wheeler sales in April dropped by 50% due to subsidy changes. Ola Electric led with 33,000 units sold out of the 64,000 total EV scooter sales. Companies like Bajaj, TVS Motors, and Ather Energy also felt the impact.
April electric two-wheeler sales halves on month
Electric two-wheeler sales plummeted 50% in April due to a seasonal slump worsened by subsidy changes. Ola Electric dominated with 33,000 scooter sales. Legacy firms like Bajaj and TVS Motors also saw declines.
Ola Electric slashes S1 X scooter prices
Ola Electric reduces S1 X scooter prices to bolster market position against Ather's Rizta. FY24 market leader with extended warranty and sales surge. Transition from FAME-II subsidies to EMPS. Subsidy approvals granted to key players.
Ola reduces prices of S1X variants, cheapest scooter to now come at Rs 69,999
Ola Electric slashes S1X variant prices with the cheapest model now at Rs 69,999. Various models available with different kWh variants. Deliveries starting next week. Extended battery warranty introduced across the lineup.
Ola to slash S1X's price?
Ola's S1X electric scooter, with 143km range and 90 km/hour speed, gained popularity with record registrations. CEO Bhavish Aggarwal hinted at further price cuts, driving increased sales and market share.
Battle of e-scooters for customers moves to India’s hinterland
The electric scooter segment in India is set for a fierce battle between legacy and new-age OEMs with the launch of Ather Energy's Rizta. Distribution and finance options in small towns and cities will determine the outcome. Legacy OEMs like TVS and Bajaj are expanding their networks, while new-age OEMs face challenges in rural areas due to financing limitations. Offering affordable solutions and innovative financing options could change market dynamics in favor of new-age OEMs.
India must keep e-scooter subsidies to boost adoption, Ather CEO says
India's e-scooter market is small but growing, accounting for 5% of total two-wheeler sales in fiscal 2023-2024. Ather was one of the first to drive the pick-up in adoption with the launch of its 450 series of e-scooters in 2018, but has fallen behind larger rivals Ola Electric and TVS Motor, whose discounts have driven sales.
Not an April Fools joke: Bhavish Aggarwal teases Ola Solo, world's first self-driven electric scooter
Ola Electric's CEO Bhavish Aggarwal introduces Ola Solo, the first autonomous electric scooter. Packed with advanced AI technology, safety features, and a unique 'Juice Up' capability, the scooter aims to revolutionize ride-hailing and local commerce.
Ola Electric, TVS, Bajaj expand e-scooter market share amid overall rise in sales
Ola Electric, TVS Motors, and Bajaj expanded their market share in FY24. Ola led with 35% in non-transport electric two-wheelers. The overall sales grew 30% to 9,41,583 registrations.
You may have just few days left to get your favourite electric scooter at best prices
Time is running out to purchase an electric scooter with FAME subsidies. Ather Energy, Okaya, and Ola Electric offer exclusive discounts. Act quickly to take advantage of the limited-time offers before March 31.
Ola announces special discount on Women's Day, offer on electric scooters valid till this day
Ola Electric is offering additional discounts on International Women's Day, on top of the discounts announced earlier. However, the offer is valid for a limited time.
Ola Electric S1 range prices slashed by Rs 25,000. Check prices here
Ola Electric has reduced the prices of its S1 scooter range by Rs 25,000, effective only in February. The S1 X+, S1 Air, and S1 Pro models have been reduced from Rs 1.09 lakh to Rs 84,999, Rs 1.19 lakh to Rs 1.05 lakh, and Rs 1.48 lakh to Rs 1.30 lakh respectively
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