Bengaluru-headquartered electric two-wheeler manufacturer Ather Energy is all set to file its draft red herring prospectus within the second week of September to the Securities Exchange Board of India (Sebi) for its maiden initial public offering (IPO), in which it is expected to raise over $450 million. On Tuesday, the fourth-largest electric two-wheeler maker in the country by volume raised Rs 600 crore from its existing investor, the National Investment and Infrastructure Fund (NIIF), catapulting itself into a unicorn with a valuation of $1.3 billion.
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.
'80% of start ups fail because they don't have a support system to help them in the very early phase.' 'It's not just an idea that takes an entrepreneur through the initial three years of journey.' 'What plays a definitive role in making a start-up successful is idea+team+capital+mentors+access to a larger ecosystem.'
With Ola Corporate, aims to provide services to 10,000 firms by next year
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.
Hero MotoCorp anticipates a big rebound in two-wheeler (2W) sales in rural India over the next four to eight quarters, driven by favourable factors such as a decent monsoon, rising crop prices, improved employment conditions, and increasing consumer confidence, its chief executive officer (CEO) Niranjan Gupta said on Wednesday. Amid tepid rural sales, he stated that there is a "strong case" for GST (goods and services tax) on entry-level two-wheelers, which are under 125 CC, to be moved down from 28 per cent to 18 per cent as they are used by "masses".
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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
Uber, Ola's main competitor in Australia, currently operates in 19 cities including Sydney, Melbourne, Brisbane, Adelaide, Perth and Canberra.
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.
Lithium-ion cells, primarily imported from China, are likely to become cheaper following punitive tariffs imposed by the US on Chinese battery cells.
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 has obtained licences to operate in South Wales and Greater Manchester, and will launch operations in South Wales by September.
IMAGES from the Premier League matches played on Sunday
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
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
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.
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.
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.
Your next ride via the Ola app in an auto rickshaw could be cashless.
The three companies - Ola, Hyundai and Kia - will co-create solutions to operate and manage fleet vehicles.
'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.'
'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.
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
Around 500 people have signed up on Ola's platform for the Bike Taxis service.
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.
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.
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.
Ola Credit will give customers 7 days of credit so they can keep booking Ola cabs without worrying about having sufficient cash
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.
Cab-hailing service Ola is on the fast track on the back of a $500 million funding.
Automobile makers in India are embracing taxi-hailing apps such as Uber and Ola, hoping to ride on their expansion to sell more cars, a contrarian view to companies in Western markets that fear a drop in car sales due to them
The state government says Ola was using its existing cab aggregator licence to promote bike taxi services.
Ola has raised $400 million from investors led by Russian billionaire Yuri Milner's DST Global.
