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Ola Electric To Roll Out Its Products On ONDC Next Week
Inc42
ยท
11m ago
Medial
Ola Electric CEO Bhavish Aggarwal announced that all Ola Electric products will be available on the Open Network for Digital Commerce (ONDC) starting from next week. Aggarwal expressed his enthusiasm for ONDC, referring to it as the "UPI moment for e-commerce." This partnership is not the first between Aggarwal and the ONDC network.
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Ola Electric aims to file DRHP by next week for 2024 IPO
Economic Times
ยท
1y ago
Medial
Ola Electric is planning to file its draft red herring prospectus (DRHP) next week as it gears up for its Initial Public Offering (IPO) in 2024. The aim is to raise funds to support the expansion of its electric vehicle (EV) manufacturing facility and increase EV adoption across India. Ola Electric is a subsidiary of ride-hailing company Ola and focuses on the production and distribution of EVs.
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PhonePeโs Pincode drops electronics and fashion, looks beyond ONDC
The Arc Web
ยท
1y ago
Medial
PhonePe's ecommerce platform, Pincode, is shifting its focus from electronics, fashion, and home decor to food and grocery delivery. This decision comes a year after Pincode's launch on ONDC, an open ecommerce ecosystem. Pincode allows shopkeepers registered on ONDC to list their products on multiple apps and accept orders, with logistics and order fulfillment options provided by third-party service providers. Pincode plans to roll out a grocery seller-side application, improving customer experience by onboarding selected suppliers. The move aligns with PhonePe's goal of concentrating on hyperlocal services and reducing its burn rate.
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Ola Electric to bring three-wheeler to market soon
Entrackr
ยท
10m ago
Medial
EV manufacturer Ola Electric is all set to launch its electric three-wheeler (e-rickshaw) later this year. The firm is likely to price its EV 3W more competitively to target market leaders like Mahindra, Piaggio, and Bajaj. According to a CNBC TV 18 report, Ola Electric Mobility aims to establish several hundred non-company-owned outlets to deepen its distribution network. In addition to the passenger version, the company will also launch a goods carrier variant. Earlier, media reports suggested that Ola Electricโs new vehicle is likely to be called Raahi. Recently, the Bhavish Aggarwal-led company announced that its products will be available on the government-backed Open Network for Digital Commerce (ONDC). In the Electric two-wheeler, Ola Electric has the largest market share and the firm is anticipating to replicate the same in the three-wheeler space. It will also become eligible for governmentโs production linked incentive (PLI) scheme, which offers financial incentives to companies that manufacture specific products in India.
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Ola Electric races to file DRHP in two weeks
Livemint
ยท
1y ago
Medial
Ola Electric is set to file draft share sale papers within the next two weeks as it prepares for an IPO early next year. The company aims to strengthen its market position by implementing an aggressive retail strategy, including launching products at a discount and reducing prices of existing products. Ola Electric currently holds the largest market share in India's electric two-wheeler market, but faces increasing competition from other manufacturers. The company is expected to seek a valuation of nearly $8-10 billion when it goes public to raise around $700 million.
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Mixed Week For New-Age Tech Stocks Amid Broader Market Volatility; Ola Electric Biggest Loser
Inc42
ยท
8m ago
Medial
Fourteen out of 28 tech stocks covered by Inc42 saw gains this week, with Ola Electric being the biggest loser. Ola Electric's share prices dropped more than 12% to close at INR 72.74. In the broader market, Sensex gained 0.65% and Nifty 50 rose 0.31% at the end of the week.
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Dalal Street buzzes with IPO frenzy: Major listings and debuts ahead
Money Control
ยท
11m ago
Medial
Akums Drugs and Pharmaceuticals will make its debut on the stock market on August 6. In addition, Brainbees Solutions, the operator of Firstcry, is launching a significant IPO worth Rs 4,194 crore and Unicommerce eSolutions is set to launch a Rs 277 crore IPO on the same day. Other IPOs closing next week include Ceigall India and Ola Electric Mobility. The SME segment will also see several listings next week, including Aesthetik Engineers, Kizi Apparels, and Utssav Cz Gold Jewels.
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Ola Electric slashes S1 X scooter prices
Economic Times
ยท
1y ago
Medial
Ola Electric has reduced the prices of its S1 X range of scooters in a bid to strengthen its position in the electric two-wheeler market. The 4 kWh variant of the S1 X is now priced at Rs 99,999, down from Rs 1,09,999, while the 3 kWh version is now priced at Rs 84,999, down from Rs 89,999. Ola Electric also reduced the price of the 2 kWh version of the scooter from Rs 79,999 to Rs 69,999. Deliveries of the vehicles are set to begin next week. Ola Electric's move comes shortly after rival Ather Energy launched its own scooter range, Rizta, with prices starting at Rs 1.09 lakh.
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Ola Electric Working On Solid-State Batteries: Bhavish Aggarwal
Inc42
ยท
1y ago
Medial
Ola Electric's CEO Bhavish Aggarwal has announced plans to launch electric vehicles (EVs) equipped with solid-state batteries next year. Aggarwal also expressed support for the Indian government's decision to phase out subsidies under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, in favor of the Production-Linked Incentive (PLI) scheme. Recently, Ola Electric received approval from the Securities and Exchange Board of India (SEBI) for its IPO, which is expected to raise over INR 5,500 crore.
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Ola Electric to invest $100 million in gigafactory
Economic Times
ยท
1y ago
Medial
Ola Electric, an IPO-bound company, plans to invest $100 million in building its gigafactory for lithium-ion battery cells. The investment will be used for the initial phase of setting up 1.5 GWh of cell manufacturing capacity. Ola Electric aims to have its own battery cells in its electric scooters by next year, with plans to expand capacity to 5 GWh. The company recently received certification for the battery cells and is also working on solid-state batteries. Ola Electric will likely supply cells to other electric two-wheeler makers and renewable energy firms.
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Ola Electric Hits 20% Upper Circuit After Venturing Into E-Bike Space
Inc42
ยท
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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