Pavna Industries Inks Deal with Ola Electric to Supply gnition witches, Latches for EVs
Pavna Industries Limited, a leading automotive parts manufacturer has inked an agreement with Ola Electric to supply ignition switches and latches, consolidating its foray into the electric two-wheeler segment. Under this agreement, Pavna Industries commits to providing high-quality ignition switches…
Ola Electric Raises $50 million in Debt Financing From EvolutionX Cap
Initial public offering (IPO)-bound electric two-wheeler maker Ola Electric Mobility Ltd has raised Rs 410 crore (about $50 million) through non-convertible debentures from EvolutionX Debt Capital, showed regulatory filings made with the Registrar of Companies (RoC). EvolutionX Debt Capital, a…
IPO-bound Ola Electric Gets Certification for 2nd E-scooter Under Govt’s PLI Scheme
Bhavish Aggarwal-led Ola Electric has received certification for its S1 Pro (Gen-2) electric scooter under the government’s production-linked incentive (PLI) scheme for the automobile and auto component industry. Sources told IANS on Saturday that the IPO-bound company had applied for…
Ola Electric is Looking to Bid for Lithium Mining Rights
E-scooter maker Ola Electric is looking to bid for mining rights for lithium blocks, which are being auctioned by the Centre. Last year, the NDA government at the Centre launched the first part of its critical minerals auctions in a…
IPO-Bound Ola Electric Becomes First Indian EV Company To Get PLI Nod
IPO-bound Ola Electric has become the first Indian e2W (electric two-wheeler) company to become eligible for the government’s production-linked incentive (PLI) scheme. The Ministry of Heavy Industries (MHI) has given its approval after a four-month-long process. While there has been…
Ola Electric to Raise USD 662 mn in India’s First EV Maker IPO
SoftBank Group-backed Indian e-scooter maker Ola Electric on Friday filed to raise at least 55 billion rupees (USD 661.9 million) in an initial public offering (IPO) that is tippd to be one of the country’s biggest share sales next year….
Bumps On IPO Road: Ola Electric’s Net Loss Surges
The Indian manufacturer of electric vehicles (EVs) Ola Electric, led by Bhavish Aggarwal, revealed a significant decline in its financial performance for FY23. The company’s net loss increased dramatically from Rs 784.1 crore in the previous fiscal year (FY22) to…
India’s OLA Electric Service Challenges as Demand for Electric Scooters Surges
Bhavish Aggarwal, often regarded as India’s counterpart to Elon Musk, is on a mission to accelerate the adoption of electric scooters and propel India toward a greener future. Aggarwal’s company, Ola Electric, often likened to Tesla in the West, is…
Ola Electric Converts to Public Ltd Co Ahead of its IPO Filing
As Ola Electric gears up to get listed on the stock exchanges in the coming months, the firm made a corporate restructuring to convert itself from a private limited company to a public company, regulatory filings showed. The conversion of…
Ola Electric Reacts to Pune Scooter Fire Incident
Ola Electric is once again in the news because of similar reasons. Another incident of an Ola electric catching fire took place, this time in Pimpri-Chinchwad area of Pune. Several videos of the incident have been posted on the social…
