Ola Electric became the latest among electric scooter (e-scooter) makers to have started the exercise of recalling a specific batch of its model after a rap on the knuckles by the government. Union Minister of Road Transport & Highways Nitin Gadkari on Thursday advised electric vehicle (EV) companies to act responsibly by identifying and recalling defective batches without waiting for orders or guidelines from the ministry. The Bengaluru-based start-up is conducting pre-emptive diagnostics and health check on 1,441 scooters, it said in a statement on Sunday.
Lithium-ion cells, primarily imported from China, are likely to become cheaper following punitive tariffs imposed by the US on Chinese battery cells.
Focus on the quality of work and not on the quantity, as one can change the world in 10 hours, Mahindra Group Chairman Anand Mahindra said on Saturday, joining the debate on a 90-hour work week.
'Price competition is fierce, with many companies selling at zero margin.' 'This pricing pressure is challenging smaller companies and will likely drive some out of the market over time.'
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
Four companies - Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy - are eligible for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage, the heavy industries ministry said on Thursday. The allotment was made for a total of 50 GWh of battery capacity to the four successful bidders. These firms, the ministry said, will receive incentives under India's Rs 18,100 crore programme to boost local battery cell production.
With nearly 100 launches and unveils, the Bharat Mobility Global Expo 2025, held in Delhi from January 17 to 22, made one thing clear to automobile enthusiasts: Electric vehicles (EVs) are the way ahead for the Indian auto market for years to come.
For the first time, the event will take place across three locations in Delhi: Bharat Mandapam at Pragati Maidan, Yashobhoomi Convention Centre at Dwarka, and India Expo Mart at Greater Noida.
With Ola Corporate, aims to provide services to 10,000 firms by next year
From the Sensex pack, Adani Ports & Special Economic Zones, Mahindra & Mahindra, Reliance Industries, HDFC Bank, Larsen & Toubro, NTPC, State Bank of India, UltraTech Cement and Kotak Mahindra Bank were the major gainers. In contrast, Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Hindustan Unilever, ITC, Tata Motors and Tata Consultancy Services were among the laggards.
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Ola's rival Uber is trying to set up a local engineering centre in Bengaluru.
Tariff cap offers Ola relief in battle with Uber. Though it might hurt their earnings, Ola believes the Karnataka High Court's judgement levels the playing field with Uber.
Ola Cabs, which started out in 2010, has raised over $1 billion of funds.
Cab aggregators caught between showing profitability to investors, increasing their network and dabbling in areas such as food ordering have seen a major blow to their primary business.
According to a source SoftBank is in favour of Ola acquiring the Indian unit of Uber, but the finer details of the deal are being discussed
From powering mobile devices, US chip designer Qualcomm has tied up with Ola Electric to power its electric scooters. Qualcomm is providing the key 4G connected octa core android platform which provides connectivity, computing capabilities and enables rich immersive displays with power saving software.
Ola said it will not charge commission from drivers for the first two months after the launch, allowing them to retain 100 per cent of their earnings from the platform.
Uber, Ola's main competitor in Australia, currently operates in 19 cities including Sydney, Melbourne, Brisbane, Adelaide, Perth and Canberra.
The IPO market is set to be bustling next week, with 11 companies like Vishal Mega Mart, TPG Capital-backed Sai Life Sciences and fintech firm One Mobikwik Systems gearing up to launch their initial share sales, collectively aiming to raise nearly Rs 18,500 crore. Other mainboard IPOs to be launched during this period are Inventurus Knowledge Solutions Ltd and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd.
Ola said it has obtained licences to operate in South Wales and Greater Manchester, and will launch operations in South Wales by September.
Investors attribute the revival to the country's strong public markets, which are boosting confidence in initial public offering (IPO)-bound startups offering viable exit opportunities.
As a 75-year-old septuagenarian, Bajaj Auto has adapted itself as a nod to competition, regulations, and changing buyer preference. It will continue to do so, said its managing director Rajiv Bajaj at the launch of the all-new Pulsar 250. This was in response to a question on the company's preparedness for disruption by electric two-wheeler start-ups.
The new tranche of funding raises Ola's valuation to $5.74 billion from $4.45 billion in October 2017
The two new markets are overwhelmingly dominated by US ride-hailing giant Uber, which has been able to edge out local start-ups
The primary market is expected to remain vibrant, with at least 10 companies, including supermart major Vishal Mega Mart and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd expected to raise a combined Rs 20,000 crore in the next month, merchant bankers said. Education-focused NBFC Avanse Financial Services, TPG Capital-backed Sai Life Sciences, hospital chain operator Paras Healthcare, and investment bank DAM Capital Advisors are also among the companies planning to launch their IPOs in December, they added. The companies aim to raise a total of Rs 20,000 crore through their public offerings.
In the UK, Ola is the only app that offers black cabs and private hire vehicles, giving both the driver-partners as well as the users, more choice.
The three companies - Ola, Hyundai and Kia - will co-create solutions to operate and manage fleet vehicles.
Indian kiranas are agile enough to face the q-com challenge, but it's going to be a tough fight, notes Ambi Parameswaran.
Your next ride via the Ola app in an auto rickshaw could be cashless.
Honda Motorcycle and Scooter India (HMSI) on Wednesday forayed into the fast-growing domestic electric mobility market with the introduction of e-scooters, ACTIVA e: and QC1, with swappable and fixed batteries. With this, the Japanese two-wheeler maker will now be competing with other legacy players such as Bajaj Auto, Hero MotoCorp, TVS Group as well as pure EV players like Ather and Ola, who already have a good presence in the segment, which is growing at 34 per cent year-on-year.
Fundraising momentum is expected to accelerate further in the New Year, potentially surpassing 2024's record figures
IMAGES from the Premier League matches played on Saturday.
'Ola in India makes money on every ride. Our focus over the past couple of years has been to keep growing the market and our share in the market and build up on sustainable business,' says co-founder and CEO Bhavish Aggarwal.
Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, has received capital markets regulator Sebi's approval to float an initial public offering (IPO), people familiar with the development said on Wednesday. This development marks a significant milestone for the Indian industry, as it is the first automaker initial share-sale in over two decades, following Japanese automaker Maruti Suzuki's listing in 2003.
Industry watchers say while it's completely possible for a firm like SoftBank to step in and take control of Ola, it's usually one of the least favoured options.
There is also lack of mandate from the government on adoption of electric mobility after ambitious talks of moving all new automobile sales to electric by 2030
Rediff.com's Syed Firdaus Ashraf and Hitesh Harisinghani speak to millennials to find out if the ease of ride-sharing apps like Ola and Uber was a reason for them not buying a car.
Around 500 people have signed up on Ola's platform for the Bike Taxis service.
With regard to his investment in Ola, Bansal said that on the one hand, the ride-hailing major had emerged as a global force in the mobility space and on the other it continued to build deeper for various needs of a billion Indians through its platform. This is the largest funding by an individual in the app cab.
The calendar year 2024 is set to go down as the best year for initial public offerings (IPOs) in terms of funds raised. Following the IPOs of food delivery major Swiggy and two other companies slated for next week, this year's total will reach nearly Rs 1.2 trillion, going past 2021's record tally of Rs 1.19 trillion. Swiggy's Rs 11,327 crore IPO, the sixth-largest in India, and solar energy firm Acme Solar Holdings' Rs 2,900 crore IPO opened on Wednesday (Nov 6), while health-tech firm Sagility India's Rs 2,106 crore IPO opened a day earlier.
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