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News on Medial
Ola Electric likely to enter sports scooter segment
Economic Times
·
23d ago
Medial
Ola Electric is set to enter the sports scooter market, with plans to announce this expansion on August 15 at their annual event. The move aims to diversify Ola's product portfolio and features potential AI capabilities through Ola Krutrim. Ola teased a sportier scooter model ahead of its 'Sankalp' event, hinting at competition with existing sports scooters like the TVS Ntorq and Yamaha Aerox. The segment has gained popularity in India.
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Bhavish Aggarwal’s new entity Krutrim SI Designs in talks to raise up to $100 Mn
Entrackr
·
2y ago
Medial
Bhavish Aggarwal's new venture, Krutrim SI Designs, is in discussions to raise funds, aiming for $50 million to $100 million. The startup, with Tenneti Venugopala Krishnamurthy as co-founder, will likely support Ola Electric's operations, focusing on silicon chips, cloud infrastructure, and AI models. Matrix has pledged $15 million, joined by existing and new Ola investors. Aggarwal is also exploring AI startup acquisitions. Ola Electric has expanded, launching new scooter variants and plans to enter electric bike manufacturing.
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Ola Electric to launch electric autorickshaw ahead of planned IPO, says report
Livemint
·
1y ago
Medial
Ola Electric is set to launch its electric autorickshaw, reportedly named 'Raahi', later this month. The company has been developing the three-wheeler vehicle for the past few years as part of its strategy to enter the commercial vehicle market. The electric autorickshaw will challenge established players such as Mahindra Treo, Piaggio Ape e-city, and Bajaj RE. Ola Electric is also expected to make significant announcements regarding its gigafactory and IPO plans in the coming months. The company currently holds a significant share in the electric scooter segment and is expanding its presence in the two-wheeler market as well.
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Ola Electric's Sankalp 2025: What you can expect - The Economic Times
Economic Times
·
21d ago
Medial
Ola Electric's "Sankalp 2025" event in Tamil Nadu is unveiling plans for the sports scooter segment and highlighting AI-powered features through its Krutrim technology. The company aims to boost domestic electric vehicle technologies and manufacturing. Despite challenges like decreased market share and rising losses, Ola is launching MoveOS 6, offering AI-driven enhancements. The event also marks the company's "India Inside" vision, enhancing local capabilities amid competition from Ather Energy and legacy rivals.
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Ola Electric’s Bhavish Aggarwal takes a swipe at ‘cute’ Ather Rizta ads
Economic Times
·
1y ago
Medial
Ola Electric founder, Bhavish Aggarwal, took a jab at rival Ather Energy's marketing strategy, stating that "cute ads" won't be effective in the electric vehicle (EV) segment. He suggested that EV companies focus on improving their supply chain and technology to lower product costs instead of investing heavily in marketing and sales. Ola Electric currently leads in the Indian EV scooter market, while Ather recently launched its family scooter, Rizta, to compete with Ola Electric's S1 range. Ola Electric spent Rs 61.4 crore on marketing in FY23, while Ather's advertising expenses surpassed Rs 203 crore.
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Ola Electric captures over 52 per cent market share
Thehindubusinessline
·
1y ago
Medial
Ola Electric has captured a significant 52% market share in the electric two-wheeler segment in April 2024. The company registered 34,000 new vehicle registrations during the month, with a year-on-year growth of 54%. Recently, Ola Electric introduced new pricing for its S1 X scooter portfolio, offering three battery configurations at different price points. The company also offers an extended eight-year/80,000 km battery warranty to encourage EV adoption. Ola Electric aims to further expand its presence in the mass-market 2W EV segment with the impending deliveries of its S1 X portfolio.
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Aftermarket parts used in the scooter led to a short circuit: Ola Electric on Pune fire incident
Economic Times
·
1y ago
Medial
Ola Electric has revealed that aftermarket parts used in an Ola S1 scooter caused a short circuit that led to the vehicle catching fire in Pune. The company confirmed that the battery was unaffected and the customer was unharmed. This is the second incident of an Ola electric scooter catching fire in Pune, with a previous incident occurring in March 2022. Another user also reported a similar fire accident with an Ola S1 Pro scooter.
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Ola Electric's FY23 financials will be a positive surprise: CEO Bhavish Aggarwal
Money Control
·
2y ago
Medial
Ola Electric, an electric vehicle manufacturer, anticipates significant improvements in its FY23 revenue and profit compared to FY22, attributing the dip in FY22 profits to an investment year and the launch of scooter sales in January 2022. Despite widened losses in FY22, the company reported a substantial increase in consolidated revenue from operations. Ola Electric is confident about a strong FY23 performance as it expands manufacturing capacity and prepares for an IPO in 2024. The firm also plans to enter global markets, including the Asia Pacific region, by early 2024.
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Acer enters India's electric scooter market with ebike priced at Rs 99,999
Economic Times
·
1y ago
Medial
Taiwanese company Acer has entered India's electric scooter market by partnering with urban mobility startup Think Ebikego. Acer unveiled its first electric scooter, MUVI 125 4G, priced at Rs 99,999. The scooter can be customized for B2B use cases like hyperlocal food or grocery delivery. It qualifies for government subsidies and features swappable batteries. Acer will face competition from startups like Ola Electric and Ather Energy, along with established companies like Hero Electric and TVS. Ola Electric recently launched new scooters and plans to introduce electric bikes by 2024.
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Ola Electric showcases Bharat cell, rare earth-free motor at ‘Sankalp’ - The Economic Times
Economic Times
·
21d ago
Medial
Ola Electric unveiled its first in-house 4680 Bharat cell battery and a rare earth-free motor at its Gigafactory in Tamil Nadu. The S1 Pro+ scooter, featuring the new technology, offers a 501 km range and a reduced price. Ola also launched MoveOS 6, enhancing operational features and efficiency. Upcoming products include the S1 Pro Spot scooter and an electric bike by 2027. Ola is focusing on technology innovation to regain its electric vehicle market share.
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Why Ola’s Path To Green Mobility Is Full Of Twists And Turns
Inc42
·
1y ago
Medial
Ola Cabs, a major ride-hailing company in India, has been slow to make progress in transitioning to electric mobility and has faced increased competition in the EV segment. While Ola Electric, a subsidiary of Ola Cabs, was established in 2017, the company has yet to achieve any significant milestones in its quest for an electric fleet. In contrast, competitors like Uber India and other emerging players such as BluSmart and Evera Cabs have already deployed thousands of electric vehicles. Ola's past initiatives, such as "Mission: Electric," have not come to fruition, and the company's current CEO, Hemant Bakshi, has offered limited clarity on its green mobility plans. Nevertheless, Ola aims to expand its electric vehicle offerings beyond two-wheelers to include three-wheelers, cars, and e-buses. However, Ola Electric's timeline for new products may not align with Ola Cabs' ambitions. Ola Electric plans to launch electric auto-rickshaws in the coming months, which could be integrated into Ola Cabs' fleet. The company also intends to enter the electric car market eventually but may need to partner with fleet operators and other original equipment manufacturers in the meantime. Ola's focus on scaling up its electric two-wheeler ride-hailing vertical is driven by the belief that state governments are more likely to favor two-wheelers over traditional internal combustion engines. However, Ola faces competition from established players such as Yulu and Rapido, as well as Uber's emphasis on Uber Moto. Ola still has to overcome challenges such as unit economics and profitability while catching up with existing rivals.
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