Bangalore-headquartered electric vehicle company Ola Electric has filed for an initial public offering (IPO) planned for this year. The IPO aims to raise $662 million, which will make Ola Electric the first EV maker to be publicly listed in India. This upcoming IPO is seen as an important test case...
Ola to Manufacture Electric Cars in India by 2024
Headquartered in Bangalore, Ola, India’s top ride-hailing startup, which subsequently moved into manufacturing electric scooters, is expanding business again with the formation of Ola Electric Mobility Pvt. Ltd. The company will enter the electric-car market in competition with local giants such as the Tata Group, Mahindra Electric Mobility Ltd., and...
India’s Ola, Siemens, to Build Advanced EV Manufacturing Hub
Bangalore-based Ola, will partner Siemens to build its upcoming electric vehicle manufacturing facility. The announcement follows Ola's MoU with the government of the southern state of Tamil Nadu to invest $300 million toward building the manufacturing unit. With an initial capacity of 2 million electric scooters per year, the facility...
Ola India Gets Another $500 Million Investment
Led by new investor Baillie Gifford and existing backers, Falcon Edge, Tiger Global, SoftBank Group, DST Global along with strategic investor Didi Kuaidi (a China-based rival of Uber), Ola India acquired its F round of funding for $500 million. The company said that it would use the new capital to...