OLA S1 RECALL
Ola IPO to be first by an Indian EV maker, also a first by an automaker in 20 years
Ola Electric IPO is expected to be valued at around Rs 8,500 crore (approximately $1 billion), making it one of the top 15 offerings in India in terms of size. What makes this IPO even more significant is that Ola Electric will be the first pure play EV manufacturer to list on the Indian stock exchanges. It will be also the first IPO by an auto maker in India in over 20 years.
Ola electric scooter survives the water test again, but try it at your own risk
A video of the Ola S1 Pro electric scooter going through a flooded street in Bengaluru has gone viral on social media. The scooter was seen taking two passengers safely through the knee-deep water. Some Twitter users pointed out that most electric vehicles (EVs) can do this safely as they do not have exhaust pipes and are waterproof. However, others cautioned that even an EV could be damaged by potholes or open manholes.
Ola S1 Pro survives after being fully submerged in the sea!
A viral video on YouTube shows an Ola S1 Pro electric scooter submerged in sea water and still working perfectly fine. This is contrary to the common perception that electric vehicles are delicate. Ola has had quality issues in the past, with a voluntary recall of vehicles in April 2021 and accidents reported.
Ola preparing for world without any subsidies: Bhavish Aggarwal
In an interview to ET, Aggarwal said Ola's electric two-wheeler business, which commenced commercial operations in 2021, is ebitda (earnings before interest, tax, depreciation and amortisation) positive. "We have scaled the fastest, and we have gotten to profitability the fastest," he said.
Ola Electric kicks off $250-300 million fundraise plan
The company is expecting an up round that may see it valued at $6.5-7 billion, based on the expectation of turning ebitda positive from FY24. That will make it the most valuable electric two-wheeler company in the country, even exceeding legacy peers such as Hero Motocorp and TVS Motor.
Concerted campaign against the company, electric scooters are well tested: Ola Electric
On March 14, Ola Electric said it is offering customers of its scooters an option to replace the front fork arm, a key component between the body of the vehicle and its wheel. This the company said was free of cost following complaints that the part snapped while on road.
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Ola offers to replace S1 scooter part amid safety concerns raised by customers
The company said recently there have been concerns amongst its users around the safety of its front fork arm, a key component between the body of the vehicle to its wheel.
Ola ramping up e-scooter production, capacity, says CEO Bhavish Aggarwal
Aggarwal further said, "We feel that in the next six to eight months we will exhaust the (current) installed capacity and we are also in parallel expanding our capacity in the future factory."
Can Bhavish Aggarwal become India’s answer to Musk or will he collapse?
In his twenties, the founder of India’s largest ride-sharing company held off deep-pocketed rival Uber to remain the country’s top brand. Now, Aggarwal wants his Ola Electric Mobility Pvt Ltd to displace Elon Musk’s Tesla Inc and China’s BYD Co. as the industry leader for electric vehicles by carving out a niche in lower cost designs.
Development and testing of electric vehicles need to follow strict protocols, say industry leaders
With EVs (Electric Vehicles) still evolving, the manufacturers are in the process of learning and even the testing agencies are yet to figure out exactly what needs to be tested to ensure that there are no electric vehicle fires, said auto industry veteran and former Managing Director of M&M Pawan Goenka.
Can Bhavish Aggarwal pull off his electric car dream amid harsh ground realities?
Aggarwal has pressed the EV accelerator hard while Ola's electric two-wheeler sales are now going south. In July, Ola Electric sold 3,861 vehicles, a significant drop from 5,891 vehicles in the month of June. The figures are dropping with each passing month.
Govt vigilant about EVs safety, experts on the job: Minister
Replying to a question in the Lok Sabha, Minister of State for Heavy Industries, Krishan Pal Gurjar, said that the government has taken a serious note of the battery explosion incidents in EV two-wheelers, and an expert panel is looking into it. The minister informed that out of 6,656 EVs recalled, Okinawa Autotech recalled 3,215 units, PureEV recalled 2,000 EVs and Ola Electric recalled 1,441 units.
EVs going mainstream, fire incidents help industry mature: Ather Energy CEO
In April this year cases of electric two-wheelers of manufacturers -- such as Ola Electric, Okinawa Autotech and PureEV -- catching fire were reported. It prompted the government to form a panel to examine.
Ola Electric crosses Rs 500 cr revenue in Apr-May
The company, which in August last year forayed into the green mobility space with the launch of its electric scooters, S1 and S1 Pro priced at Rs 99,999 and Rs 1,29,999, respectively, had postponed delivery timelines for its much anticipated products citing global semiconductor shortage issue.
Okinawa Autotech pips Ola Electric to become No 1 electric two-wheeler brand
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, according to the Federation of Automobile Dealers Associations (FADA). Recently, a report said that Okinawa Autotech recalled 3,215 units of its 'Praise Pro' scooters to fix "any issue" related to batteries.
User complains about Ola S1 Pro quality. Here's what Bhavish Aggarwal replied
Replying to Sorabjee, Ola CEO wrote: "Hormazd, while your tweet smacks of a strong bias, glad our service team solved this same day for you. Let’s see how many brands able to do this at scale. We’ve upgraded you to MoveOS 2 which solves the specific issue. Enjoy, commit to #EndICEage and don’t be afraid of change!!"
Ola Electric hikes price of flagship S1 Pro scooter
The S1 Pro now comes in at Rs 1,20,149 (ex-showroom Delhi, including FAME-II and state subsidies)/ Rs 1.40 lakh (ex-showroom), and is Rs 10,000 costlier than before. The price for the Ola S1 remains unchanged.
Ola Electric to open next purchase window for S1, S1 Pro on May 21
"Opening the purchase window this weekend for all. Those who have reserved will get early access. More details in email. Test ride camps also open in 5 cities starting tomorrow and ofcourse deliveries will be in #HyperMode," Aggarwal tweeted.
India's Ola Electric chief Bhavish Aggarwal says e-scooter fires rare but can happen in future
The company, backed by Japan's SoftBank Group, has recalled more than 1,400 e-scooters and appointed external experts to investigate the cause.
Ola Electric chief Bhavish Aggarwal says e-scooter fires rare but can happen in future
Ola's e-scooter fire was among a spate of similar recent incidents that triggered an uproar on social media and an investigation by the government.
EV recall may mean tweaking wires, not a battery change
Ola Electric, Okinawa and Pure EV have recalled electric two-wheelers to fix battery-related issues, but since the battery is a sealed unit, it cannot be opened or tampered with.
Customer sends notice to Ola Electric for making telemetry data public
A customer has sent a takedown notice to Ola Electric for publishing the electric two-scooter's telemetry data on social media, after the e-scooter met with an accident in Guwahati, injuring the rider.
EV recalls begin: Ola, Okinawa and Pure take back over 7,000 electric two-wheelers
Nitin Gadkari in his missive had said that if any company is found negligent in their processes, a heavy penalty will be imposed and a recall of all defective vehicles will also be ordered.
Ola Electric recalls 1,441 scooters after Pune fire incident
The move comes as the government is planning to penalise companies for quality lapses in the manufacturing of electric vehicles, after several incidents where electric scooters have caught fire.
Ola Electric set to launch autonomous car in about 2 years
"Ola Electric began testing an autonomous vehicle nearly six months ago and will launch it in global markets by late 2023 or early 2024," CEO Bhavish Aggarwal said. According to him, Ola Electric will aim to launch a car for around Rs 10 lakh so that more people can afford it.
A few batches of Ola e-scooters may be recalled, says Bhavish Aggarwal
“We have commissioned world-class agencies on the root cause of the recent EV fire and what can be done better. We might do a recall of a few batches depending on the recommendations we receive. We will try to make sure consumer confidence remains high and we will look out for defects if any,” he said.
E-scooter fires in India trigger safety concerns, in setback for Modi push
India wants electric scooters and motorbikes to make up 80% of total two-wheeler sales by 2030, from about 2% today, and the Modi government is offering companies billions of dollars in incentives to locally manufacture electric vehicles
E-scooter fires in India trigger safety concerns, in setback for Modi push
India wants electric scooters and motorbikes to make up 80% of total two-wheeler sales by 2030, from about 2% today, and Modi's administration is offering companies billions of dollars in incentives to locally manufacture electric vehicles (EVs.)
As EVs catch fire, Cos plan to cool batteries down
Even in the absence of a cooling solution, industry experts said a high degree of safety redundancy can be built into battery design through fuses and other means to check thermal runaway and ensure increasing temperature in one cell does not cascade onto the rest of the battery. Battery makers may also move away from cobalt, an unstable material that can cause fire.
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