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Ola Electric Hits 20% Upper Circuit After Venturing Into E-Bike Space
Inc42
·
11m ago
Medial
Ola Electric's shares surged by nearly 20% to reach a 52-week high of INR 132.76 after unveiling its electric motorcycle portfolio 'The Roadster Series'. This comes as new players like Ultraviolette, EMotorad, Motovolt, and Toutche Electric enter the electric bike market. At 12:07 PM, Ola Electric shares were trading at INR 129.03.
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Ola Electric Teases Launch Of Electric Bike On August 15
Inc42
·
11m ago
Medial
EV startup, Ola Electric, hinted at the launch of an electric bike during its annual event on August 15. In a video shared on social media, the company teased the rough sketch and silhouette of the upcoming ebike model. Recently, shares of Ola Electric listed on exchanges, and after a lukewarm start, jumped 20% to hit the upper circuit.
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Ola Electric shares extend listing-day gains; jump 20%
YourStory
·
11m ago
Medial
Shares of Ola Electric Mobility Ltd, led by Bhavish Aggarwal, surged 20% on Monday, hitting the upper circuit limit and extending their listing-day rally. The company's market valuation also saw an increase of INR 8,040.94 crore, reaching INR 48,258.89 crore. Ola Electric's initial public offering (IPO) received 4.27 times subscription and had a price range of INR 72-76 per share. The company plans to use funds from the IPO for capacity expansion, research and development, debt repayment, and organic growth initiatives. Ola Electric manufactures electric vehicles and core components at its Ola Futurefactory.
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Ola dangles Rs 70K monthly earnings for riders in push to expand e-bike taxi service
Money Control
·
1y ago
Medial
Ola is aggressively expanding its electric bike taxi service in Bengaluru, India, and offering attractive incentives of up to INR 70,000 per month to e-bike riders. The company is also renting out electric scooters with a security deposit of INR 5,000 to those who want to join as e-bike taxi riders. Ola aims to get a head start over rivals like Uber, as it seeks to capitalize on the growing demand for clean and convenient transportation options. However, the company is currently operating without a license from the Karnataka transport department.
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Goldman Sachs Sees 40% Upside In MapmyIndia; Stock Hits 20% Upper Circuit
Inc42
·
1y ago
Medial
MapmyIndia received a price target of INR 2,800 from Goldman Sachs, indicating a potential upside of nearly 40%. The startup is expected to benefit from its strong position in various fast-growing markets such as automotive navigation, mapping devices, connected vehicles, telematics, and government digitization. As a result, MapmyIndia's shares were locked at the 20% upper circuit on the BSE and closed at INR 2,401.9.
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Ola launches e-bike services in Delhi and Hyderabad, announces fares
Livemint
·
1y ago
Medial
Ride-hailing platform Ola has launched e-bike services in Delhi and Hyderabad, with fares starting from ₹25 for a 5 km ride. The company plans to deploy 10,000 electric two-wheelers across three cities within the next two months and aims to have the largest EV 2W fleet in India. Ola has also set up 200 charging stations in Bengaluru to service its e-bike fleet. The move is part of Ola's vision to serve 1 billion Indians and promote nationwide electrification.
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Ola Electric unveils four new electric bikes following S1 X scooter launch
Startup News FYI
·
1y ago
Medial
Ola Electric has unveiled four upcoming electric bike models – Ola Cruiser, Ola Roadster, Ola Adventure, and Ola DiamondHead – set to launch by late 2024. Each model targets different riding preferences, with Ola emphasizing that the future of motorcycling will be shaped in India for the world. Despite recent advancements, Ola reported a significant net loss of INR 784.1 Cr in FY22, raising questions about meeting its FY23 financial goals. The move into the electric motorbike market puts Ola Electric in competition with both domestic and global brands.
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Ola applies for licence to operate e-bike taxis in Karnataka
Economic Times
·
1y ago
Medial
ANI Technologies, the parent company of Ola, has applied for a license to operate an electric bike taxi service in Bengaluru and other towns in Karnataka. The state allows EV two-wheelers to be used as bike taxis under its Electric Bike Taxi Scheme, 2021. Ola's founder, Bhavish Aggarwal, recently announced the re-launch of Ola Bike, a two-wheeler taxi service that will use electric scooters. The move is aimed at expanding ride-hailing services in smaller towns and promoting environmentally friendly transportation options.
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Ola Electric To Unveil Portfolio Of Electric Bikes On Independence Day
Startup News FYI
·
11m ago
Medial
Besides, the listed startup also announced that it will integrate its batteries into the vehicles by Q1 FY26 The portfolio launch will be a part of Ola Electric’s event called Sankalp tomorrow at the Futurefactory, Krishnagiri in Tamil Nadu. It is pertinent to note that Ola Electric has been working on a prototype of an electric bike for quite some time.
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Ola Electric To Unveil Portfolio Of Electric Bikes On Independence Day
Inc42
·
11m ago
Medial
Ola Electric has announced that it will launch a range of electric two-wheelers in India in the coming months. The initiative is part of their plan to transform India's two-wheeler market with sustainable options. Ola Electric has been developing an electric bike prototype and plans to integrate its batteries into the vehicles by early 2026. The company will unveil its portfolio of electric two-wheelers at an event called Sankalp, taking place at the Futurefactory in Tamil Nadu.
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Ola restarts bike taxi operation in Bengaluru, goes all electric
Money Control
·
1y ago
Medial
Ride-sharing firm Ola has announced the restart of its bike taxi services in Bengaluru. This time, they will exclusively use Ola Electric's S1 scooters. The pricing is set at Rs 25 for 5km and Rs 50 for 10km, positioning it as a cost-effective and environmentally friendly mode of transport. The move comes amidst discussions of a potential ban on bike taxis due to concerns over rider safety and the promotion of electric vehicles. Ola aims to expand its electric bike taxi services to other cities in India in the coming months.
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