Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<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

There is no stopping resignations of senior executives at <keyword id="4393078" type="General" weightage="20" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> and now, its head of advanced battery engineering, <keyword id="14862118" type="General" weightage="20" keywordseo="Ashok-Saraswat" source="Orion">Ashok Saraswat</keyword>, has moved on. Saraswat, who joined SoftBank-backed <keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> last year, is set to join a company that is entering the battery business, reported The Economic Times, citing sources. When reached out, Ola Electric did not comment on the development. More than half a dozen senior executives have quit Ola Electric in recent months, as the Bhavish Aggarwal-run EV maker revealed plans to develop indigenous cells and batteries in the country. Last month, Ola Electric announced to invest $500 million for setting up its state of the art Battery Innovation Centre (BIC) in Bengaluru. The innovation centre will have capabilities to develop complete packages of battery pack design, fabrication and testing under one roof. The company had said that it will recruit top global talent including 500 PhDs and engineers who will be supported by an "additional 1,000 researchers in India and multiple other global centres". Ola recently unveiled its first Li-ion cell, saying it will begin the mass production of its cell from its upcoming Gigafactory by 2023. However, the resignations at the senior level at the company continue. Yashwant Kumar, Senior Director and Business Head for Charging Networks at the company, decided to move on last month. A B.Tech from the Indian Institute of Technology-Bombay, Kumar joined Ola Electric in March last year. In June, Ola Electric's Director HR, Ranjit Kondeshan, decided to move on. 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. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/warren-buffett-sells-47-mn-worth-stake-in-chinese-ev-firm-byd/articleshow/93902458.cms" style="">Warren Buffett sells $47 mn worth stake in Chinese EV firm BYD</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/nokia-launches-the-flip-phone-in-india-at-4699-all-details-here/articleshow/93904615.cms">Nokia launches the flip phone in India at ₹4,699 - all details here</a>

Ola Electric’s head of battery unit Ashok Saraswat quits

There is no stopping resignations at <keyword id="4393078" type="General" weightage="100" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> and now, <keyword id="1329846" type="General" weightage="50" keywordseo="yashwant-kumar" source="Orion">Yashwant Kumar</keyword>, who is Senior Director and Business Head for Charging Networks at the company, has decided to move on. A B.Tech from the Indian Institute of Technology-Bombay, Kumar joined Ola Electric in March last year. He is among several senior employees who have made a beeline to leave Bhavish Aggarwal-run electric two-wheeler company in the recent months, sources told IANS on Sunday, amid global meltdown, supply chain issues and several EV fire episodes that have shaken the trust of EV buyers in the country. The news about Kumar's resignation was first reported by <keyword id="4997154" type="General" weightage="50" keywordseo="et-auto" source="Orion">ET Auto</keyword>. Ola Electric refused to comment on this. Kumar was earlier Co-founder and CEO of digital marketing agency GenY Medium in Hyderabad and worked at Procter &amp; Gamble for more than five years. He led branding initiatives for Pantene and Pringles for the South East Asia markets, prior to starting GenY Medium in India. Last month, Ola Electric's Director HR, Ranjit Kondeshan, decided to move on. Kondeshan departed from the electric mobility company on July 2, just 14 months after joining. 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 <keyword id="18635" type="General" weightage="50" keywordseo="amazon" source="Orion">Amazon</keyword>. 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 <keyword id="3295694" type="General" weightage="50" keywordseo="ola-cars" source="Orion">Ola Cars</keyword>, which is the used car commerce division of the company, announced his departure from the company. Ola Electric again saw its sales dipping in the month of June, taking the company to fourth place in the overall category. It saw 5,869 electric scooters' sales (as of June 30), according to the VAHAN data. Ola Electric was the top EV player in the country in April and since then, it has seen its position sliding continuously. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/lucknow-to-create-four-monkey-forests-to-keep-the-simians-off-cities/articleshow/92644030.cms">Lucknow to create four 'monkey forests' to keep the simians off cities</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tomato-is-changing-the-fortunes-of-himachal-farmers-in-solar-sirmaur-and-kullu/articleshow/92644004.cms">Tomato is changing the fortunes of Himachal farmers in Solar, Sirmaur and Kullu</a>

Ola Electric's head of charging Yashwant Kumar quits

EV manufacturer <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> Electric on Thursday launched its much-anticipated Ola S1 Air e-scooter, which comes available in three variants at a starting price of Rs 84,999. The company also expanded its Ola S1 portfolio by launching the new variant at a price of Rs 99,999, which comes powered by a 2kWh battery, and offers an IDC range of 91 km and a top speed of 90 km/hr. The purchase window for the new variant opens from February 9, while the deliveries will begin from March 2023, the company said. "The expansion of the successful S1 portfolio and the S1 Air in 3 new variants, and across multiple price points will encourage more customers to permanently switch to EVs," Bhavish Aggarwal, Founder and CEO, Ola, said in a statement. The new "S1" variant will be available in 11 colour palettes - Gerua, <keyword id="2558372" type="General" weightage="50" keywordseo="matt-black" source="Orion">Matt Black</keyword>, Coral Glam, <keyword id="8154305" type="General" weightage="50" keywordseo="millennial-pink" source="Orion">Millennial Pink</keyword>, <keyword id="16451314" type="General" weightage="50" keywordseo="porcelain-white" source="Orion">Porcelain White</keyword>, <keyword id="1261818" type="General" weightage="50" keywordseo="midnight-blue" source="Orion">Midnight Blue</keyword>, Jet Black, Marshmellow, Anthracite Grey, Liquid Silver, and Neo Mint, while, "S1 Air" will be available in Coral Glam, Neo Mint, Porcelain White, Jet Black, and Liquid Silver. The Ola S1 Air comes powered by 2kWh, 3kWh and 4kWh battery packs, a 4.5kW hub motor and a top speed of 85 km/hr. The 2 kWh variant offers an IDC range of 85 km, while the IDC range for the 3kWh and 4kWh variants is 125 km and 165 km, respectively, according to the company. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/data-ai-firm-tredence-announces-esop-buyback-worth-240-cr-270-workers-to-benefit/articleshow/97771331.cms">Data AI firm Tredence announces ESOP buyback worth ₹240 cr, 270 workers to benefit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/indias-first-solar-powered-electric-vehicle-could-cut-your-daily-transportation-costs-by-one-third/articleshow/97773509.cms">India's first solar-powered electric vehicle could cut your daily transportation costs by one-third!</a>

Ola launches new e-scooter S1 Air, starting at ₹84,999

<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="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

Meta-owned photo-sharing platform <keyword id="819905" type="General" weightage="80" keywordseo="instagram" source="Orion">Instagram</keyword> has announced that it is introduced <keyword id="4114693" type="General" weightage="100" keywordseo="reels" source="Orion">Reels</keyword> to several endpoints on the Instagram Platform. The platform said that it is looking to improve its content publishing and consumption experiences, whether people use Instagram natively, or via a third party. "After consistently hearing from our developer community that Reels is a top priority, we are excited to introduce Reels to a number of the endpoints that you may already be familiar with," the company said in a Developer's blogpost. "We will expand the scope of support of reels to Content Publishing, Insights, Comment Moderation, Hashtag Search, Business Discovery, Mentions, Promote <keyword id="89002" type="General" weightage="80" keywordseo="api" source="Orion">API</keyword>, Instagram Basic Display API," it added. This API enhancement will be available for the current version, and all previous versions of the Graph API. Reels will become automatically available for developers who already have access to the applicable APIs. They will not need to put the app through additional App Review, as long as their app has already been approved for the appropriate permission access levels. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-1-invite-system-goes-live-how-to-get-an-invite-how-to-order-the-phone-and-everything-you-need-to-know/articleshow/92434869.cms">Nothing phone (1) invite system goes live – how to get an invite, how to order the phone and everything you need to know</a> <a href="https://www.businessinsider.in/tech/gadgets/news/asus-vivobook-pro-14-oled-review-good-performance-with-a-lightweight-design/articleshow/92510441.cms">Asus VivoBook Pro 14 OLED review – good performance with a lightweight design</a> <a href="https://www.businessinsider.in/tech/enterprise/news/ola-electrics-hr-director-ranjit-kondeshan-quits-after-fourteen-months/articleshow/92510756.cms">Ola Electric’s HR Director quits after fourteen months as top executives depart</a>

Instagram Reels APIs launched for developers to improve content publishing

<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>

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

<ul><li><keyword id="749437" type="General" weightage="20" keywordseo="twitter-india" source="Orion">Twitter India</keyword> bans multiple accounts of Pakistan embassies under the IT act.</li><li>Reportedly, the Pakistan government is urging Twitter to restore access to restricted accounts.</li><li>Twitter handles of journalists from The News and <keyword id="330847" type="General" weightage="80" keywordseo="geo-news" source="Orion">Geo News</keyword> are banned under the IT act.</li></ul>India has banned the official Twitter accounts of several Pakistani diplomatic missions, journalists and some prominent personalities under the's Information Technology Act, 2000, the Ministry of Foreign Affairs in Islamabad has claimed. "Deeply concerning that #India has blocked the flow of information to Indian Twitter by withholding access to the following official accounts," Geo News quoted the Ministry as saying in a tweet on Monday night, while listing down the banned accounts. The banned accounts include accounts of the Pakistani Embassy in UN, Turkey, Iran and Egypt. "Diminishing space for plurality of voices &amp; access to info in India is extremely alarming," the tweet added. The Ministry called out Twitter, saying that social media platforms should abide by the applicable international norms. It said that the government of Pakistan is urging the tech company to restore access to the restricted accounts immediately and ensure adherence to democratic freedoms of speech and expression. Meanwhile, the Twitter handles of journalists, including The News and Geo News reporter in London, <keyword id="14309060" type="General" weightage="80" keywordseo="murtaza-ali-shah" source="Orion">Murtaza Ali Shah</keyword> and CJ Werleman have also been withheld by the company under India's Information Technology Act, 2000, Geo News reported. Murtaza Ali Shah has around 550,000 followers on his verified Twitter @MurtazaViews account. He has been associated with The News and Geo for more than 17 years. Shah confirmed he received an email notice from Twitter about India's legal action against his account. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/making-sense-of-metaverse-a-primer/articleshow/92509388.cms">Making sense of metaverse – a primer</a> <a href="http://businessinsider.in/tech/enterprise/news/ola-electrics-hr-director-ranjit-kondeshan-quits-after-fourteen-months/articleshow/92510756.cms">Ola Electric’s HR Director quits after fourteen months as top executives depart</a>

Twitter India bans accounts of Pakistan embassies in UN, Iran, Egypt and Turkey

<keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> on Sunday responded to the electric scooter fire incident that took place in Pune, saying our investigation has revealed that aftermarket parts used in the scooter led to a short circuit which resulted in the incident. The company also confirmed that the battery of the vehicle is intact and functional. In addition, the company informed "the customer is safe and unharmed". A user had shared the video of the incident on X, mentioning that the model of the scooter was Ola S1, which caught fire, and the incident happened near the parking lot of D.Y Patil College in Pimpri Chinchwad. "Shocking..... Ola S1 Get fired At Parking Near D Y Patil Institute Pimpri Pune," the user wrote. The news was first reported by Pune Mirror. The video shows heavy smoke coming out of a scooter while the fire brigade team uses a water hose to control it. While there have been no casualties reported, the scooter was severely damaged. This is the second such incident involving Ola's electric scooters in Pune. Another Ola S1 Pro scooter caught fire in the Dhanori area of Pune in March 2022. In July this year, an <keyword id="4393078" type="General" weightage="50" keywordseo="ola-electric" source="Orion">Ola electric</keyword> scooter worth Rs 149,000 reportedly caught fire at a residence in Kerala's Thiruvananthapuram district. Meanwhile, a similar incident was reported by another X user on October 20, mentioning a fire incident with Ola S1 Pro. "Hello Everyone, I am Abhijeeth Singh actually I am facing a lot of problems from Ola Electric. And the reason I am saying this is because, on August 24 my Ola S1 pro met with a Fire accident at midnight some 11:30 p.m. - 12:00 a.m. So after some effort, we managed to put off the fire," the user said. He also shared a picture of the extensively damaged vehicle in his post.

Ola electric scooter catches fire in Pune, company responds

New Delhi, <keyword id="4393078" type="General" weightage="20" keywordseo="Ola-Electric" source="Orion">Ola Electric</keyword> on Thursday said it has raised Rs 3,200 crore from Temasek-led investors and State Bank of India. The company announced the successful closure of the funding round from Temasek-led investors and State Bank of India. The funds raised would be utilised towards expansion of <keyword id="6354720" type="General" weightage="20" keywordseo="Ola" source="Orion">Ola</keyword>'s EV business and setting up India's first lithium-ion cell manufacturing facility at Krishnagiri, Tamil Nadu, the company said in a statement. The Bengaluru-based firm aims to accelerate its growth by ramping up its two-wheeler manufacturing capacity, launching electric motorcycles followed by electric cars and fast-tracking the construction of gigafactory, it added. "At Ola, our vision is to end ICE (internal combustion engine) age in automobiles and our upcoming gigafactory will be a big leap in India's journey towards becoming a global EV hub. We are committed towards developing core technologies in EVs and cell and are rapidly scaling up manufacturing to further accelerate the transition to sustainable mobility," Ola Electric Founder &amp; CEO Bhavish Aggarwal said. Ola Electric was selected by the government under its ambitious cell PLI scheme, receiving a maximum capacity of 20 GWh.

Ola Electric raises Rs 3,200 cr to fund EV business

<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>

You Searched For "ola electrics hr director" and got 12 results

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

IANS

Ola Electric’s head of battery unit Ashok Saraswat quits

IANS

Ola Electric's head of charging Yashwant Kumar quits

IANS

Ola launches new e-scooter S1 Air, starting at ₹84,999

IANS

Former Vodafone Group CEO Arun Sarin invests in Ola Electric

Sanchita Dash

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

Sanchita Dash

Instagram Reels APIs launched for developers to improve content publishing

IANS

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

Sanchita Dash

Twitter India bans accounts of Pakistan embassies in UN, Iran, Egypt and Turkey

IANS

Ola electric scooter catches fire in Pune, company responds

IANS

Ola Electric raises Rs 3,200 cr to fund EV business

PTI

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

PTI

Popular Keywords

Buying Guides