๐ Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. ๐ฅ
โ
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator โ
Log In
News on Medial
Ola Electric Secures PLI Certification For Second Scooter
Inc42
ยท
1y ago
Medial
Ola Electric has received certification for its second scooter, the S1 Pro (Gen-2), under the production-linked incentive (PLI) scheme. This comes after the company received the same certification for its S1 Air scooter, making it the first Indian electric two-wheeler company eligible for the PLI scheme. The scheme allows Ola Electric to receive incentives for up to five years, ranging between 13% and 18% of the determined sales value of the products. The certification will be effective from fiscal 2023-24. Ola Electric has filed for an IPO worth INR 7,250 crore and plans to use the proceeds for expansion and research and development.
View Source
Related News
IPO-bound Ola Electric gets PLI certification for its second scooter: Report
Livemint
ยท
1y ago
Medial
Ola Electric, the Indian electric vehicle manufacturer, has received the Domestic Value Addition (DVA) certification for its S1 Pro scooter. This is the second DVA certification for Ola Electric, making them eligible for various incentives under the Production-Linked Incentive (PLI) scheme for the next 5 years. Ola Electric is also planning an IPO to raise โน5,500 crore. The funds will be used for expanding manufacturing capacity and research and development.
View Source
PLI Scheme: IPO-Bound Ola Electric Gets Domestic Value Addition Certificate
Inc42
ยท
1y ago
Medial
Ola Electric, an IPO-bound startup, has become the first Indian two-wheeler manufacturer to receive the domestic value addition (DVA) certificate under the production linked incentive (PLI) scheme for the automobile and auto component industry. This certification enables Ola Electric to be eligible for incentives ranging from 13% to 18% of determined sales value for up to five consecutive financial years. The PLI scheme aims to boost domestic manufacturing and promote clean mobility in India. Ola Electric is also awarded capacity under the PLI scheme for advanced chemistry cell battery storage.
View Source
Aftermarket parts used in the scooter led to a short circuit: Ola Electric on Pune fire incident
Economic Times
ยท
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.
View Source
Ola Electric scooter fire being investigated in southern Kerala
Economic Times
ยท
1y ago
Medial
An Ola Electric scooter caught fire in southern Kerala, and the incident is currently under investigation. This fresh incident adds to concerns over the safety of electric scooters. Authorities are examining the case to determine the cause of the fire and ensure the safety of electric vehicles on the roads. This is the second known incident of an Ola S1 range scooter catching fire. Investigations are on into the incident in Nedumangad in Kerala.
View Source
Ather Picks HSBC Holdings Plc, Others To Help It For IPO
Inc42
ยท
1y ago
Medial
Ather Energy, an electric vehicle manufacturer, has reportedly chosen HSBC, Nomura, and JPMorgan as advisors for its upcoming initial public offering (IPO). The Bengaluru-based startup has also enlisted Axis Bank and JM Financial for its primary offering. Ather faced a 150% increase in net loss in FY23 to INR 864.5 crore despite sales growth. The company plans to launch new scooter models and has reduced the price of its 450S variant by INR 20,000 to improve sales. Ather's competitor Ola Electric is also rumored to be planning an IPO and recently received a PLI license for its S1 Pro scooter.
View Source
IPO-Bound Ola Electric Bags PLI Automotive Certificate From ICAT
Inc42
ยท
1y ago
Medial
Ola Electric has received a PLI-Automotive Certificate from ICAT, enabling its Ola S1 Pro (Gen2) two-wheeler to avail incentives under the production-linked incentive (PLI) scheme. The vehicle met the criteria for a minimum domestic value addition of 50% for the Automotive PLI certificate. The PLI scheme offers incentives for up to five consecutive financial years, ranging between 13% and 18% of the determined sales value. Ola Electric recently filed a draft red herring prospectus for an IPO, with plans to raise INR 7,250 Cr. In FY23, the company reported losses of INR 1,472 Cr and revenues of INR 2,630 Cr.
View Source
Acer enters India's electric scooter market with ebike priced at Rs 99,999
Economic Times
ยท
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.
View Source
Ola Electric gets govt notice for missing PLI targets
Inshorts
ยท
4m ago
Medial
Ola's battery unit Ola Cell Technologies reportedly received government notice for failing to meet targets specified under the PLI ACC scheme. In 2022 Ola was selected for PLI scheme to establish a 20 GW local battery manufacturing facility. According to reports, Ola Electric, Reliance battery storage, among others will have to pay penalty for missing the targets under the scheme.
View Source
Ola Electric reports Rs 373 crore topline in FY22; losses widen on scooter sales launch
Economic Times
ยท
1y ago
Medial
Ola Electric reports Rs 373 crore in revenue for FY22 but records increased losses due to the launch of scooter sales. Despite healthy topline growth, losses widened due to significant expenses associated with launching scooter products. Ola Electric's financial performance underscores the challenges in scaling up operations and entering new markets, highlighting the complexities of the electric vehicle industry's expansion.
View Source
Ola Electricโs Bhavish Aggarwal takes a swipe at โcuteโ Ather Rizta ads
Economic Times
ยท
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.
View Source
Trackers
Active Indian VCโs
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything thatโs happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
