Ola electric

It would explore multiple fundraising options, including equity shares, convertible debentures, warrants, American Depository Receipts, and Global Depository Receipts.

Police initially treated the matter as an unnatural death but subsequently registered it under provisions of the Bharatiya Nyaya Sanhita related to abetment of suicide.

Z47 offloaded around 0.81 percent of its stake in the electric two wheeler maker, while Tiger Global trimmed its holding by 0.21 percent.

The two auto giants, part of the same South Korean group, had invested USD 300 million in Ola Electric in 2019.

The capital will be secured through a private placement of non-convertible debentures or similar instruments, rolled out in phases.

Equipped with a powerful mid-drive motor and chain drive, the bike features an integrated MCU for optimal torque transfer, delivering impressive acceleration and range.

The company is imparting training to one lakh third-party mechanics under its Network Partner Program to make every mechanic in India EV-ready by Dec 2025.

The Founder and CEO announced a rebranding of its ride-hailing division from Ola Cabs to Ola Consumer.

If we look at company wise data, the market leader Ola Electric whose IPO has opened today, recorded 114 per cent YoY growth with 41,597 units sold in July 2024

The allegations were revealed on the day Ola held a media briefing to talk about its upcoming public issue.

Startups in the fields of EVs, hydrogen production and storage, and solar energy technology are growing in India. The two areas that have received the most financing over the past five years are carbon capture (USD 42 million) and offset and solar energy technology (USD 161 million).

The company had also listed a four-wheeled vehicle as an "intangible asset under development" in its draft IPO papers.

The startup is likely to be in the artificial intelligence space

According to a Twitter update, the service will go live for select customers in Bangalore

According to reports, the IPO planned by Ola Electric will consist of a combination of primary and secondary share offerings

The latest fundraise will be used by the company to immediately ramp up its capacity of electric two-wheelers from 0.5 million to 2 million per annum, as per the report

The development comes amid reports that the government has initiated an investigation into FAME scheme irregularities after whistle-blowers raised apprehensions

The reports stated that Ola will invest $920 million through its subsidiaries Ola Electric Technologies and Ola Cell Technologies, drawn to the growing demand for EVs in India

Sources claimed that layoffs have been across Ola Cabs, the ride hailing business and Ola Electric, the electric vehicle manufacturing company

Bhavish Aggarwal recommends that the country develops two sources for the mineral, partner with other countries and localize the primary requirement of lithium

As per company statement, Ola Electric is the only Indian EV company that received incentives under the advanced cell chemistry (ACC) PLI scheme and will begin its mass production by 2023