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<ul><li><keyword id="6602160" type="General" weightage="80" keywordseo="ola-electric-mobility" source="Orion">Ola Electric Mobility</keyword> Private Ltd. has signed a MoU with the <keyword id="20154" type="General" weightage="80" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> government to invest ₹7,614 crore.</li><li>According to the Tamil Nadu government, Ola Electric Mobility's group companies -- <keyword id="16569311" type="General" weightage="50" keywordseo="ola-cell-technologies-private-ltd" source="Orion">Ola Cell Technologies Private Ltd</keyword> and <keyword id="16569310" type="General" weightage="50" keywordseo="ola-electric-technologies-private-ltd" source="Orion">Ola Electric Technologies Private Ltd</keyword> -- will set up the lithium ion cell plant and EV car plant respectively.</li></ul>Chennai, Electric vehicle (EV) player Ola Electric Mobility Private Ltd. has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest ₹7,614 crore to make EV cars and lithium ion cells in the state. According to the Tamil Nadu government, Ola Electric Mobility's group companies -- Ola Cell Technologies Private Ltd and <keyword id="16569309" type="General" weightage="80" keywordseo="ola-electric-technologies" source="Orion">Ola Electric Technologies</keyword> Private Ltd -- will set up the lithium ion cell plant and EV car plant respectively. The Ola Electric Technologies will invest Rs 5,114 crore for making lithium cells and Ola Electric Technologies will invest Rs 2,500 crore for the car plant, the state government said. The two plants will come up in Krishnagiri district. Several days ago, the Tamil Nadu government unveiled its new EV industry policy. "Ola will set up the world's largest EV hub with integrated 2W, car and lithium cell Gigafactories in Tamil Nadu. Signed MoU with Tamil Nadu today. Thanks to Hon.CM@mkstalin for the support and partnership of the TN govt! Accelerating India's transition to full electric!" Bhavish Aggarwal, Co-Founder tweeted. SEE ALSO: <a href="https://www.businessinsider.in/science/news/china-clones-three-super-cows-to-produce-milk-by-the-gallons/articleshow/97570773.cms">Holy Cow! China clones three 'Super Cows' to produce milk by the gallons</a> <a href="https://www.businessinsider.in/tech/mobile/news/new-patent-suggests-that-apple-could-bring-a-foldable-iphone-with-a-self-healing-display-in-the-future/articleshow/97302738.cms">New patent suggests that Apple could bring a foldable iPhone with a self-healing display in the future</a>

Ola group to invest ₹7,614 cr in TN for lithium ion cell, EV cars

<keyword id="19956271" type="General" weightage="20" keywordseo="Ola-Electric-Mobility" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric Mobility" meta.hostid="261" meta.entityid="Ola Electric Mobility">Ola Electric Mobility</keyword> on Wednesday reported a higher consolidated loss of Rs 347 crore for the April-June quarter compared to the year-ago period. The company's losses in the April-June period of 2023 were Rs 267 crore, according to an exchange filing. Revenue from operations for the quarter under review was Rs 1,644 crore against Rs 1,243 crore in the same quarter of the previous fiscal, according to the filing. The Bengaluru-based firm said its total expenses during the first quarter grew to Rs 1,849 crore compared with Rs 1,461 crore in the June quarter of FY24. The company made its market debut earlier this month. The company in a statement said its automotive segment (E2W) posted a strong improvement in EBITDA (earnings before interest, tax, depreciation and amortization) margin and is close to EBITDA breakeven. The quarter witnessed the highest-ever deliveries of vehicles by the company at 1,25,198 units as against 70,575 units delivered in the same period last year, <keyword id="4393078" type="General" weightage="20" keywordseo="Ola-Electric" source="Orion">Ola Electric</keyword> Mobility said. The company also said it ramped up deliveries of its mass-market scooter portfolio (S1 X portfolio) during the quarter which helped accelerate the growth, adding that the existing product portfolio also saw strong demand which continued growth momentum throughout the quarter. According to Ola, the increasing scale of operations has benefited the company in the form of lower manufacturing costs and supply chain optimization. These benefits of scale are further amplified by the company's scalable platform-based product development and manufacturing technology that results in high degrees of commonality across its products, it said. The company also announced on Wednesday the integration of its cells in its vehicles by the first quarter of next fiscal. Ola said it will launch its electric motorcycle portfolio across mass and premium segments during its annual flagship event on August 15, 2024. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pixel-9-pro-and-pixel-9-pro-xl-launched-in-india-starting-at-79999/articleshow/112512198.cms">Pixel 9, Pixel 9 Pro and Pixel 9 Pro XL launched in India starting at ₹79,999</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a>

Ola Electric Mobility losses widen to ₹347 crore in Apr-Jun quarter

<ul><li>The ride-hailing company’s subsidiary <keyword id="6602160" type="UNKNOWN" weightage="60" keywordseo="ola-electric-mobility">Ola Electric Mobility</keyword> has raised ₹400 crores from existing investors. </li><li>Ola has raised money 2 days after Mahindra and Mahindra launched its ride-hailing app Glyd which will use electric cars. </li><li>Ola had announced to bring 1 million EVs on Indian roads by 2022. </li></ul><keyword id="4393078" type="PERSON" weightage="40" keywordseo="Ola-Electric">Ola Electric</keyword> Mobility Ltd, a company backed by Ola – India’s unicorn ride hailing app – has raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India. The news come just two days after Mahindra and Mahindra announced the launch of its ride hailing service Glyd which would be using only Electric Vehicles (EVs). The subsidiary company had come into being when Ola tried to push its electric mobility program in Nagpur in partnership with Mahindra. While the plan didn’t take off in Nagpur roads with drivers even reportedly returning the vehicles, Ola has stuck to its plan to bring 1 million Electric Vehicles on Indian roads by 2022. This venture seems to be a part of Ola’s bigger plans of doing more than just putting cabs on the roads. Through Ola Electric, the company has already partnered with several OEMs and battery manufacturers, while looking at working with the automotive industry for solutions for electric vehicles. According to the company’s official statement, they are currently running several pilots to deploy electric vehicles and charging solutions, including battery swapping stations, electric 2-wheeler and 3-wheeler services amongst others. “At Ola Electric, our mission is to enable sustainable mobility for everyone. India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity, and lead the world,” said Bhavish Aggarwal, Co-founder &amp; CEO, Ola in an official statement. Ola Electric is headed by Anand Shah, a former senior executive from the auto industry, and Ankit Jain, who headed Ola’s connected vehicle platform. While Ola has responded to the Mahindra challenge, it remains to be seen how fast Uber can react to the growing competition. See Also: <a href="https://www.businessinsider.in/uber-and-ola-have-a-new-challenger-in-india-and-its-a-large-car-maker/articleshow/68163955.cms">Uber and Ola have a new challenger in India – and it’s a large car maker</a> <a href="https://www.businessinsider.in/chairman-of-mahindra-group-that-makes-electric-cars-upsells-indias-performance-on-paris-pact-on-climate-change-at-wef-2019-davos/articleshow/67656856.cms">At Davos: India's pioneer electric car maker is pushing for action against climate change</a>

Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?

<ul><li><keyword id="292871" type="PERSON" weightage="20" keywordseo="Arun-Sarin">Arun Sarin</keyword>, former <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> Group Plc CEO, has invested an undisclosed amount in <keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword>. </li><li>Sarin has been on the board of <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> as an investor and director for long now.</li><li>Earlier in May, Ola Electric had also raised funding from Ratan Tata.</li></ul>Arun Sarin, former Vodafone Group PLC CEO has invested in Indian unicorn Ola's subsidiary company Ola Electric. With the investment, he joins the board of Ola Electric as an independent director. Sarin has been on the board of Ola as an investor and director for long now. As Ola turned to electric mobility, he has invested again in the Series A round being raised by Ola Electric. Recharging India’s EV mission Ola Electric Mobility develops solutions to make electric mobility viable at scale. The subsidiary company was formed when Ola initiated its electric mobility program in Nagpur in partnership with Mahindra. “Electric Mobility at scale is the need of the hour and can help us solve some of the world’s most complex problems like climate change, pollution, over-dependence on non-renewables amongst others. Ola Electric is pioneering the change by building an ecosystem that can help catalyze the adoption of <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword> globally,” Sarin said. The former Vodafone Group CEO and telecommunications industry expert is also on the board of companies like Accenture and Cisco amongst others. <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword>, Co-founder &amp; CEO, Ola said, “Arun’s experience of building global businesses and his deep understanding of emerging markets and opportunities will be very valuable for us at Ola Electric in executing our mission. We look forward to his continued guidance and mentorship.” In May, Ola Electric raised funding from Ratan Tata. In March, it had raised ₹400 crore from Ola’s existing and early investors - Tiger Global and Matrix India. Both Tata and Sarin are existing investors in Ola. The electric vehicle sector is gaining interest in India with large automakers like Maruti Suzuki, Mahindra and Mahindra and Tata Motors marking their entry into the segment. See Also: <a href="https://www.businessinsider.in/ratan-tata-invests-in-ola-electric-mobility/articleshow/69199801.cms">Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount</a> <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?</a>

Former Vodafone Group CEO Arun Sarin invests in Ola Electric

<ul><li><keyword id="6602160" type="UNKNOWN" weightage="20" keywordseo="ola-electric-mobility">Ola Electric Mobility</keyword> has raised series A round of funding from <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>. </li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> Electric had raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India.</li><li>The investment will help Ola achieve its plan to bring 1 million Electric Vehicles on Indian roads by 2021. </li></ul>Ola Electric Mobility has raised an undisclosed amount from Ratan Tata in a series A round of funding. Ola Electric is a subsidiary of ANI Technologies Pvt Ltd, which is Ola’s parent company. Two months earlier in March 2019, Ola Electric had raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India. Tata is also an existing investor in Ola. “The <keyword id="381751" type="ORGANIZATION" weightage="20" keywordseo="Electric-vehicle">electric vehicle</keyword> ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development. I have always admired the vision of <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword> and I’m confident that this will be part of yet another important strategic move into this new business area,” said Ratan Tata, Chairman Emeritus of Tata Sons. Interestingly, Tata Group’s Tata Motors is also an early adopter of electric vehicles with its Tata Tigor EVs. The investment will further help Ola achieve its plan to bring 1 million Electric Vehicles on Indian roads by 2021. In an official statement, the company said that Tata’s investment is a significant endorsement of the company’s approach to developing an electric mobility ecosystem, including innovations in charging infrastructure, swapping models, and market-appropriate products. Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments. The Electric Vehicle industry has been heating up in India with large automakers like Maruti Suzuki, Mahindra and Mahindra and Tata Motors marking their entry in the segment. Maruti Suzuki has also <a href="https://www.thehindu.com/business/Industry/steering-away-from-diesel/article27035520.ece">announced</a> that it will be phasing out its diesel vehicles by 2020, which could possibly lead to the company producing more EVs. See Also: <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?</a> <a href="https://www.businessinsider.in/ola-report-indias-ev-mission-needs-two-wheelers-three-wheelers/articleshow/69035515.cms">India's EV mission will be incomplete without two wheelers and tuk tuks but not without a few speed bumps</a>

Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount

<ul><li><keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword> raised $250 million from Softbank to enter the unicorn club. </li><li>The subsidiary company of ride hailing unicorn Ola had earlier raised funds from <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Arun Sarin, Tiger Global, Matrix India and others. </li><li>Interestingly, all of these investors have also placed their bets on Ola.</li></ul>Ola Electric has become India’s latest unicorn after it raised $250 million from Softbank, according to filings sourced by paper.vc. Ola Electric Mobility , a subsidiary of the ride hailing unicorn Ola, has been in the news of late as India powers up its Electric Vehicle mission. In May, Ola Electric also raised funds from Arun Sarin, former Vodafone Group CEO and also from the Chairman Emeritus of Tata Group, Ratan Tata. In March, it had raised ₹4 billion from Ola’s existing and early investors – Tiger Global and Matrix India. Interestingly, most of the investors in Ola Electric are its parent company’s investors – from Softbank to Arun Sarin, Ratan Tata and even Tiger Global and Matrix India. “India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity, and lead the world,” Bhavish Aggarwal, Co-founder &amp; CEO, Ola had said in March. Through Ola Electric, the company partnered with several equipment manufacturers and battery manufacturers, while looking to work with the automotive industry for solutions for electric vehicles. Ola had also recently announced its technology centre in the Bay Area, where it’s hiring over 150 engineers to develop next-generation technologies in mobility. See Also: <a href="https://www.businessinsider.in/ratan-tata-invests-in-ola-electric-mobility/articleshow/69199801.cms">Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount</a> <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?</a>

Ola’s investors back its electric company – Ola Electric – welcome it to the unicorn club

New Delhi: <keyword id="19907577" type="General" weightage="20" keywordseo="shares" source="keywords">Shares</keyword> of <keyword id="19956271" type="General" weightage="20" keywordseo="ola-electric-mobility" source="keywords">Ola Electric Mobility</keyword> Ltd surged nearly 16 per cent on Friday morning after the <keyword id="21622893" type="General" weightage="20" keywordseo="Ola-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Group" meta.hostid="261" meta.entityid="Ola Group">Ola Group</keyword> announced its foray into the <keyword id="20314533" type="General" weightage="20" keywordseo="electric-motorcycle" source="keywords">electric motorcycle</keyword> segment with the launch of three models and two more in the pipeline. The company also reported a jump in revenue from operations for the April-June quarter of 2024-25. The stock jumped 15.77 per cent to Rs 128.09 on the BSE. At the NSE, it soared 15.59 per cent to Rs 128.20. <keyword id="19897349" type="General" weightage="100" keywordseo="Ola-Electric" source="keywords">Ola Electric</keyword> Mobility on Wednesday reported a jump in revenue from operations in the April-June quarter of FY25 at Rs 1,644 crore against Rs 1,243 crore revenue recorded in the same quarter of the previous fiscal. The June quarter has been a "good quarter" in terms of growth and profitability, Chairman and CEO <keyword id="19914967" type="General" weightage="20" keywordseo="Bhavish-Aggarwal" source="keywords">Bhavish Aggarwal</keyword> said in a post-earnings call. Meanwhile, the group has rebranded its ride-hailing service as Ola Consumer, announced a partnership with Open Network of Digital Commerce (ONDC) and launched automated warehousing solutions to cater to quick commerce requirements. Besides, Ola said it will bring to the market the first indigenously designed and developed family of chips for AI, general computing and Edge by 2026 under its Krutrim venture. Speaking at Sankalp 2024 - Ola's annual launch event on Thursday, Ola Founder Bhavish Aggarwal said currently, two-thirds of India's two-wheeler market consists of motorcycles, and it was imperative for the company to enter the segment. "We have already been successful in accelerating the EV adoption in the scooter segment, and with our futuristic portfolio of products, we are now focused on supercharging the EV penetration through our motorcycles," he said. Aggarwal also said Ola's indigenously developed 'Bharat 4680' cell and battery pack will be integrated with its own vehicles starting in the first quarter of FY26. The company so showcased its all-new Gen-3 platform for two-wheelers. "Coupled with the integration of our cells in our vehicles starting early next year, we are determined to chart a new course for mass EV adoption across India," Aggarwal added.

Ola Electric shares surge nearly 16 percent

<ul><li>Indian government will soon direct <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword>, <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> to convert 40% of their fleet to <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword> by 2026, says a report. </li><li>Ola has already taken the lead in the electric vehicle segment in India. </li><li>Uber has reportedly been experimenting with electric bikes in India. </li></ul>The Indian government is clearly not taking its Electric Vehicle mission lightly. The government has reportedly ordered ride-hailing giants Uber and Ola to convert 40% of their fleet to electric cars by 2026, according to a <a href="https://www.reuters.com/article/us-india-electric-autos-exclusives/exclusive-india-to-order-taxi-aggregators-like-uber-ola-to-go-electric-idUSKCN1T71DU">Reuters report.</a> The report said that for both the companies to achieve this target, they will have to begin the conversion process by next year itself – “would need to start converting their fleet as early as next year to achieve 2.5% electrification by 2021, 5% by 2022, 10% by 2023 before hiking it to 40%,” the report said. Ola might take to this deadline much easily. It has already taken the lead in the electric vehicle segment. The homegrown unicorn has a company under the name Ola Electric Mobility which develops solutions to make electric mobility viable on a large scale. Ola plans to bring 1 million Electric Vehicles on to the Indian roads by 2021. The company has also been raising funds at a quick pace. So far, it has brought in investors like Ratan Tata and Arun Sarin, along with Tiger Global and Matrix India – all of whom are early investors in the parent company ANI Technologies. Meanwhile, Uber too is <a href="https://techcrunch.com/2019/05/09/uber-begins-trialing-e-bikes-and-bicycles-rides-in-india/">reportedly</a> experimenting with electric bicycles and bikes in India. The global giant has partnered with Bengaluru-based bicycle sharing platform Yulu bikes. Globally, Uber had acquired bike sharing startup Jump and had already launched its e-bike services in the US and UK. See Also: <a href="https://www.businessinsider.in/ratan-tata-invests-in-ola-electric-mobility/articleshow/69199801.cms">Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount</a> <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?</a>

Uber, Ola might have to go electric by 2026 in India: Report

Ola Electric is cutting 500 jobs across verticals and levels as part of a restructuring exercise, according to people aware of the development. The company, which has come under the scanner for its poor aftersales service recently, had started the job cut in the September quarter. "It has been going on for some time now, starting around July. It has been a gradual process of removing redundant roles across verticals and levels," said a source. The exercise is expected to be completed by the end of this month. Ola Electric is looking to optimise workforce with an aim to improving margins and enhance profitability, the person added. Earlier this month, Central Consumer Protection Authority (CCPA) had ordered a detailed probe into complaints related to alleged "deficiencies" in services and electric two-wheelers manufactured by Ola Electric. Last month, the company had said that out of 10,644 complaints received from CCPA, it has resolved 99.1 per cent of the complaints.

Ola Electric cuts 500 jobs across verticals

<ul><li>HR Director <keyword id="14299448" type="General" weightage="20" keywordseo="ranjit-kondeshan" source="Orion">Ranjit Kondeshan</keyword> quits as a top executive.</li><li>Ola witnessed 31 top-level resignations and 40 new postings since 2020.</li><li>The high-profile exits come at a time when Ola is reportedly planning its IPO this year.</li></ul>The resignation drive of senior executives at <keyword id="4393078" type="General" weightage="20" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> continues and now, its Director HR Ranjit Kondeshan has decided to move on. According to sources, Kondeshan would depart from Bhavish Aggarwal-run electric mobility company on July 2, just 14 months after joining. According to his LinkedIn profile, Kondeshan joined Ola Electric Mobility from Visa where he worked for three years in Mumbai. Before Visa, he was Senior HR Manager at Bajaj Allianz Life. Ola Electric, facing a government probe in battery fires along with other EV players, has seen some high-profile exits in recent months. Nidhi Chaturvedi Jha quit Ola Electric as regional head in May and joined Amazon. In April, chief marketing officer Varun Dubey left the company due to "personal reasons". Earlier, Dinesh Radhakrishnan, who was the chief technology officer (CTO) at Ola Electric, moved on from the company. According to his LinkedIn profile, he was appointed CTO at Ola Electric in May last year. Meanwhile, Arun Sirdeshmukh who was head of Ola Cars, which is the used car commerce division of the company, announced his departure from the company. The high-profile exits come at a time when Ola is reportedly planning its IPO this year at a lower valuation than planned earlier as several startups' IPOs have proved to be a nightmare for the investors. Ride-hailing platform Ola this week shut down its used vehicle business Ola Cars as well as Ola Dash, its quick-commerce business, at a time when Indian companies are pouring money into the 10-15 minute grocery delivery market. The company shut Ola Cars within one years of its launch, as it focuses on its electric two-wheeler and car verticals. Ola has so far shut down Ola Cafe, food panda, Ola Foods, and now Ola Dash. Ola now aims to invest more towards its electric car, cell manufacturing, and financial services businesses. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/lays-kurkure-and-bingo-are-taking-over-indian-snacks-like-aloo-bhujia/articleshow/92508625.cms">Lay’s, Kurkure and Bingo are taking over Indian snacks like Aloo Bhujia, Murukku</a> <a href="https://www.businessinsider.in/tech/enterprise/how-it-works-internet-of-things-iot-for-manufacturing/articleshow/92509382.cms">How IT Works: Internet of Things (IoT) for manufacturing</a>

Ola Electric’s HR Director quits after fourteen months as top executives depart

<ul><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> is set to launch an Advanced Technology Center in the Bay Area of San Francisco. </li><li>The company will hire 150 engineers across Artificial Intelligence, Machine Learning, Data Sciences, Engineering and Product Development. </li><li>The centre will build solutions for electric mobility and connected vehicles, and lead futuristic experiments like autonomous vehicles.</li></ul>Indian ride-hailing unicorn Ola is headed to the centre of all innovation – the Bay Area in San Francisco, to set up an advanced technology center. The company is planning to hire over 150 engineers at the new centre, to develop next-generation technologies in mobility. These engineers will be hired across domains like Artificial Intelligence (AI), machine learning, data sciences, engineering and product development. “The Valley and the talent ecosystem here are very conducive to the development of next-generation mobility solutions. This is also a big step in our journey as a global mobility player, with a mission that talent from around the world are inspired to join us on,” said Ankit Bhati, Co-founder and CTO, Ola. In India, it launched Ola Electric, where it develops solutions to make electric mobility viable at scale. Now, the center in the US will build cutting-edge technology solutions in electric mobility and connected vehicles, and also lead futuristic experiments like autonomous vehicles. “The Advanced Technology Center will be the center-point of transformative mobility technology in the times to come,” said Bhati. Interestingly, Ola’s rival – the global ride-hailing giant Uber’s headquarters is situated in San Francisco too. See Also: <a href="https://www.businessinsider.in/uber-ola-to-have-electric-vehicles-in-india-by-2026/articleshow/69679364.cms">Uber, Ola might have to go electric by 2026 in India: Report</a> <a href="https://www.businessinsider.in/ratan-tata-invests-in-ola-electric-mobility/articleshow/69199801.cms">Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount</a>

Ola heads to Uber’s homeground to set up an advanced tech centre, will hire 150 engineers

<ul><li><keyword id="408440" type="PERSON" weightage="20" keywordseo="BVR-Subbu">BVR Subbu</keyword> joins <keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword> on its board of directors. </li><li>Subbu had held top positions at Hyundai and <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>. He currently heads a boutique strategy-consulting firm, Beyond Visual Range. </li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> Electric turned a unicorn in July this year. </li></ul>Ola’s subsidiary Ola Electric brought B V R Subbu on board as a director. Subbu was the former president of Hyundai India and a general manager at Tata Motors earlier in his career. “Subbu has played a key role in building and establishing some of India’s iconic automotive products like the ubiquitous <keyword id="308405" type="COMPANY" weightage="20" keywordseo="Hyundai-Santro">Hyundai Santro</keyword> and Tata 2213. His deep understanding of the mobility space and consumers will be very valuable to us in our journey to build electric mobility for India and the world,” said Bhavish Aggarwal, Co-founder &amp; CEO, Ola. Subbu has been taking up various roles since he retired from Hyundai in 2006. He was also brought onto the board of Ampere Motors, the electric mobility arm of Greaves Cotton. Currently, Subbu heads a boutique strategy-consulting firm, Beyond Visual Range. “Ola Electric is the perfect amalgam of the passion and social consciousness of youth, an exceptional appreciation and understanding of technology, and a demonstrated ability to successfully build global scale and competitiveness, coming together to attain the national imperative of sustainable mobility,” said Subbu. In July 2019, Ola Electric turned a unicorn after it raised $250 million from Softbank. In May, Ola Electric raised funds from Arun Sarin, former Vodafone Group CEO and the Chairman Emeritus of Tata Group, Ratan Tata. In March, it raised ₹400 crores from Ola’s existing and early investors – Tiger Global and Matrix India. Interestingly, most of the investors in Ola Electric are its parent company’s investors – from Softbank to Arun Sarin, Ratan Tata and even Tiger Global and Matrix India.

The brains behind Hyundai Santro will now join the board of Ola Electric

<ul><li><keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> partnered with <keyword id="4410318" type="PERSON" weightage="20" keywordseo="SUN-Mobility">Sun Mobility</keyword> for electric three-wheelers.</li><li>Sun Mobility with offers e-mobility solutions to companies, was founded by Chetan Maini, who had built India’s first <keyword id="46640" type="ORGANIZATION" weightage="20" keywordseo="electric-car">electric car</keyword> <keyword id="51538" type="COMPANY" weightage="20" keywordseo="Reva">Reva</keyword>. </li><li>Uber had earlier also partnered with Bengaluru-based Yulu bikes for electric bicycles.</li></ul>Ride hailing giant Uber has partnered with Sun Mobility to bring electric three wheelers in India. Interestingly, Sun Mobility is founded by Chetan Maini who had made India’s first electric car Reva. It was later sold to Mahindra &amp; Mahindra. Sun Mobility offers technological solutions to <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword>. With their <a href="https://www.livemint.com/companies/news/uber-and-sun-mobilty-come-together-to-deploy-e-three-wheeler-in-india-1563953667519.html">partnership</a> with Uber, Sun will offer swappable smart batteries and quick interchange stations to original equipment manufacturers who will build EVs. Uber drivers and fleet owners can then in turn buy the EVs for lesser costs without the battery. “This (partnership) is an important step forward in fulfilling our vision for creating a mobility ecosystem that is sustainable, provides cleaner air and helps build smarter cities across the region," <a href="https://www.livemint.com/companies/news/uber-and-sun-mobilty-come-together-to-deploy-e-three-wheeler-in-india-1563953667519.html">said Pradeep Parameswaran</a>, president, <keyword id="2502101" type="PERSON" weightage="20" keywordseo="Uber-India">Uber India</keyword>. Uber earlier partnered with Bengaluru-based Yulu bikes to bring electric bicycles on Indian roads. The Indian government too has been pushing for the growth of EVs in India. There are reports that the government <a href="https://www.businessinsider.in/uber-ola-to-have-electric-vehicles-in-india-by-2026/articleshow/69679364.cms">could </a>ask ride-hailing giants Uber and Ola to replace 40% of their fleet to electric cars by 2026. Uber’s Indian competitor Ola has a subsidiary company Ola Electric which is wholly focussed on e-mobility. Ola Electric recently gained the unicorn status too. From ride-hailing companies to logistics or delivery companies, many entities in the country have been piloting EV projects. Uber Eats is also a part of electric vehicle freight project by the Delhi government called Deliver Electric Delhi. Others driving the EV trend include Amazon, Flipkart, Zomato, BigBasket, and Grofers. See Also: <a href="https://www.businessinsider.in/japans-mitsui-invests-14-million-in-indian-ev-startup-smarte/articleshow/70328611.cms">Japan’s Mitsui invests $14 million in Indian EV startup SmartE</a>

Uber partners with India's first electric car maker for e-autorickshaws

<ul><li>Mahindra and Mahindra has launched a premium shared mobility service called Glyd. </li><li>The service – Glyd – will have only Mahindra’s Electric Vehicles in its fleet. </li><li>While it has been launched in Mumbai, it will soon move to other cities.</li></ul>Mahindra and Mahindra has launched a cab-hailing service called <a href="https://www.moneycontrol.com/news/technology/auto/mahindra-glyd-es-into-mumbais-app-based-taxi-business-to-rival-uber-ola-3580161.html">Glyd </a>for the office-going crowd. The service is powered by electric vehicles and will come as a new rival for companies like Uber and Ola in India. While the ownership is Mahindra’s, the fleet of 10 e-Veritos for now and drivers will be managed by a third party. The service has been launched in Mumbai and will expand to other Indian cities soon. The tech-based e-mobility service is designed for the office going crowd with features like web-conferencing along with curated entertainment and music content provided from partners. It also boasts of additional features like privacy screen, air purifier, wrap-around headrest among others. The services will be marketed as a “premium” service. "The company has from time to time provided innovative and first of its kind e-mobility solutions. Glyd is one such flagship premium e-mobility solution to redefine the in-commute experience of daily commuters," M&amp;M Managing Director Pawan Goenka said in a<a href="https://www.businesstoday.in/sectors/auto/mahindra-launches-electric-mobility-service-glyd-in-mumbai-10-e-veritos-flagged-off/story/322009.html"> statement.</a> India has seen a boom of mobility startups and services, led by the successful example of Ola. Earlier Ola had also experimented with electric vehicles in Nagpur in partnership with <a href="https://auto.economictimes.indiatimes.com/news/industry/ola-mahindra-partners-with-govt-to-build-electric-mobility-system-in-nagpur/58860040">Mahindra</a> to build an electric mobility system, but the idea didn’t make an impact with drivers even <a href="https://www.thenewsminute.com/article/ola-s-electric-vehicle-pilot-nagpur-fails-take-drivers-return-vehicles-77782">returning</a> vehicles.. Ola now has a new target of having one million EVs in its fleet by <a href="https://factordaily.com/ola-sets-a-new-electric-vehicles-road-map/">2021.</a> See Also: <a href="https://www.businessinsider.in/chairman-of-mahindra-group-that-makes-electric-cars-upsells-indias-performance-on-paris-pact-on-climate-change-at-wef-2019-davos/articleshow/67656856.cms">At Davos: India's pioneer electric car maker is pushing for action against climate change</a> <a href="https://www.businessinsider.in/can-latecomer-maruti-suzuki-rev-up-electric-car-sales-in-india/articleshow/67534315.cms">Can latecomer Maruti Suzuki rev up electric car sales in India?</a>

You Searched For "Ola Electric Mobility" and got 14 results

Ola group to invest ₹7,614 cr in TN for lithium ion cell, EV cars

IANS

Ola Electric Mobility losses widen to ₹347 crore in Apr-Jun quarter

PTI

Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?

Sanchita Dash

Former Vodafone Group CEO Arun Sarin invests in Ola Electric

Sanchita Dash

Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount

Sanchita Dash

Ola’s investors back its electric company – Ola Electric – welcome it to the unicorn club

Sanchita Dash

Ola Electric shares surge nearly 16 percent

PTI

Uber, Ola might have to go electric by 2026 in India: Report

Sanchita Dash

Ola Electric cuts 500 jobs across verticals

PTI

Ola Electric’s HR Director quits after fourteen months as top executives depart

IANS

Ola heads to Uber’s homeground to set up an advanced tech centre, will hire 150 engineers

Sanchita Dash

The brains behind Hyundai Santro will now join the board of Ola Electric

Sanchita Dash

Uber partners with India's first electric car maker for e-autorickshaws

Sanchita Dash

Uber and Ola have a new challenger in India – and it’s a large car maker

Sanchita Dash

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