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<ul><li><keyword id="20243924" type="General" weightage="20" keywordseo="MapMyIndia" source="keywords" meta.keywordsubtype="org" meta.entityname="MapMyIndia" meta.hostid="261" meta.entityid="MapMyIndia">MapMyIndia</keyword> has accused <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> of stealing its map data for <keyword id="20251740" type="General" weightage="20" keywordseo="Ola-Maps" source="keywords">Ola Maps</keyword>.</li><li>The company has claimed that Ola Electric has copied its data for “unjust commercial gains”.</li><li>The company has reportedly sent a legal notice to Ola Electric.</li></ul> Ola Electric is all set to raise funds from the primary market through an<a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-this-week-ola-electric-akums-drugs-and-more/slidelist/112097714.cms"> initial public offering</a> (IPO) which is set to open on August 2. Ahead of the IPO, <keyword id="21641099" type="General" weightage="20" keywordseo="CE-Info-Systems" source="keywords" meta.keywordsubtype="org" meta.entityname="CE Info Systems" meta.hostid="261" meta.entityid="CE Info Systems">CE Info Systems</keyword>, the parent company of homegrown MapMyIndia has accused the Bhavish Aggarwal-led company of stealing map data. According to a<a href="https://www.forbesindia.com/article/news/mapmyindia-alleges-ola-copied-data-for-maps-slaps-legal-notice/93765/1"> report</a> by Forbes India, MapMyIndia in a legal notice has accused Ola Electric of stealing its map data after the company launched its own mapping service, Ola Maps. MapMyIndia has claimed that Ola Electric has breached its license agreement. The electric two-wheeler maker had partnered with MapMyIndia to offer navigational services on its electric scooters. <h2>Data copied</h2>MapMyIndia has claimed that Ola Electric has duplicated the API (application programming interface) and SDKs (software development kits) from the company’s proprietary sources to build Ola Maps. <div type="Article" hostid="261" msid="112039063" title="Pixel 9 series design and specs revealed ahead of launch next month" mstype="2" mssubtype="0"></div> “It is firmly stated that our client’s exclusive data has been copied/derived by you to further your illegal motive and for your unjust commercial gains,” MapMyIndia reportedly said in its notice. Further, the company dismissed Ola Electric’s claim of developing the map data for Ola Maps from Open Map. “Your assertion that you have developed API and map data/Ola Maps solely through open map is factually incorrect and not tenable,” the company added. The company has said that the agreement signed between the two companies prohibits co-mingling and reverse engineering under the Intellectual Property laws. “By indulging in such unscrupulous and illegal activities, you have acted in blatant defiance of the terms and conditions of the agreement and have further infringed the copyright vested exclusively in our client pertaining to the source code,” the notice reads. Ola Electric in a statement to Business Insider India has denied the allegations. “Ola Electric wishes to address the recent claims made by CE Info Systems Limited (“CE Info”) in relation to the alleged issues with Ola Maps vis-à-vis MapMyIndia and reported in news media. We would like to state unequivocally that these allegations are false, malicious and misleading. Ola Electric stands by the integrity of its business practices. We will suitably respond to the notice shortly," an Ola Electric spokesperson said in a statement to Business Insider India. The Delhi-based Geotech startup has said that it will initiate appropriate civil and criminal legal action against Ola Electric. Earlier this month, the share price of MapMyIndia jumped by up to 10% during the Budget 2024-25 as Finance Minister Nirmala Sitharaman announced that land records in urban areas will be digitised using GIS mapping, highlighting the rising importance of such data. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-this-week-ola-electric-akums-drugs-and-more/slidelist/112097714.cms">Upcoming IPOs this week – Ola Electric, Akums Drugs and more</a> <a href="https://www.businessinsider.in/business/auto/news/government-extends-ev-subsidy-scheme-till-september-30-increases-outlay/articleshow/112062360.cms">Government extends EV subsidy scheme till September 30, increases outlay</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-to-manufacture-iphone-16-pro-models-in-india-soon-after-launch/articleshow/112045172.cms">Apple to manufacture iPhone 16 Pro models in India soon after launch</a>

Ola Electric IPO – MapMyIndia accuses company of stealing map data days before IPO opens

South Korean automaker <keyword id="19906087" type="General" weightage="100" keywordseo="Hyundai" source="keywords">Hyundai</keyword>'s Indian arm is likely to file preliminary papers with Sebi shortly to raise at least USD 3 billion (around Rs 25,000 crore) through an <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword>, sources close to the development said on Friday. The company's initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>), if it goes through, would be the largest in India, surpassing LIC's share sale of Rs 21,000 crore. This development marks a significant milestone for the Indian industry, as it is the first automaker to go for an initial share sale in over two decades, after Japanese automaker Maruti Suzuki's listing in 2003. Earlier this week, electric two-wheeler company Ola Electric received capital markets regulator Sebi's clearance to raise funds through an IPO. Under the proposed IPO, <keyword id="20106368" type="General" weightage="20" keywordseo="Hyundai-Motor-India-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motor India Ltd" meta.hostid="261" meta.entityid="Hyundai Motor India Ltd">Hyundai Motor India Ltd</keyword> (HMIL), which is the second largest carmaker in India after Maruti Suzuki India, may dilute 15-20 per cent stake to raise funds in the range of USD 3.3-5.6 billion, sources said. They said the company is likely to file its papers with the regulatory body Securities and Exchange Board of India (Sebi) soon. When contacted over the issue, HMIL company declined to comment. HMIL commenced operations in India in 1996 and currently, sells 13 models across segments. HMIL reported a 7 per cent year-on-year increase in total sales at 63,551 units in May 2024 against 59,601 units in the corresponding month last year. Domestic dispatch of vehicles to dealers saw a 1 per cent rise to 49,151 units last month from 48,601 units in the year-ago period. Exports of the vehicles grew 31 per cent in May to 14,400 units compared to 11,000 units a year ago.

Hyundai to soon file draft IPO papers with Sebi to raise about Rs 25,000 crore: Sources

<ul><li>The Indian electric two-wheeler market has reported a slight month-on-month increase in sales.</li><li><keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> continues to lead the market but its market share has declined.</li><li><keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="261" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> and <keyword id="19938730" type="General" weightage="20" keywordseo="TVS-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motor" meta.hostid="261" meta.entityid="TVS Motor">TVS Motor</keyword> occupy the second and third spots respectively.</li></ul> The Indian electric two-wheeler market has reported subdued sales in September 2024, with 88,156 <keyword id="20345883" type="General" weightage="20" keywordseo="electric-two-wheelers" source="keywords">electric two-wheelers</keyword> sold during the month, slightly up from 87,256 electric scooters sold in August 2024. While this is considerably lower than the 1,07,472 electric scooters sold in July 2024, there has been a 40% year-on-year growth when compared to the 63,184 electric scooters sold in September 2023. Electric two-wheelers continue to form the bulk of electric vehicle (EV) sales in India, with EV two-wheelers making up nearly 60% of Indian EV sales in September 2024 in terms of numbers. <h2>Ola Electric leads but with a lower share</h2>Bhavish Aggarwal-led Ola Electric continued to lead the Indian electric two-wheeler market with a 27% market share, which is considerably lower than the 39% share it enjoyed in July 2024. In August 2024, the company reported a 31% market share. The company sold 23,965 electric scooters in September 2024, up from 18,536 scooters sold in September 2023. However, this is lower than the 26,928 scooters the company sold in August 2024. Ola Electric has been plagued by customer complaints, with reports suggesting a surge in issues with its scooters. <h2>Legacy brands power through</h2>Bajaj Auto and TVS Motor, legacy two-wheeler brands have started inching closer towards Ola Electric, which once dominated the Indian electric two-wheeler market. Bajaj Auto, with its Chetak Electric scooter, has occupied the second spot for the first time, beating TVS Motor. The company recorded its highest-ever sales in September 2024 with 18,933 scooters sold, up from 7,107 scooters sold in September 2023, recording a 166% year-on-year growth. With this, the company now enjoys a 21.5% market share. TVS Motor on the other hand sold 17,865 electric scooters in September 2024, up from 15,523 scooters sold in September 2023, recording a 15% year-on-year growth. With this, the company reported a 20.3% market share in September 2024. <keyword id="19938729" type="General" weightage="20" keywordseo="Ather-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="Ather Energy" meta.hostid="261" meta.entityid="Ather Energy">Ather Energy</keyword>, which is expected to soon raise funds through an initial public offering (IPO) sold 12,579 electric scooters in September 2024, up from 7,169 scooters sold in September 2023, recording a 75% year-on-year growth. <div type="Article" hostid="261" msid="113214971" title="Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI" mstype="2" mssubtype="0"></div> Ather Energy, which had a headstart in the Indian electric two-wheeler market has now been pushed to the fourth spot, with a market share of 14%. The next on the list is Hero MotoCorp, which is a major investor in Ather Energy. The company sold 4,174 electric scooters in September 2024, up from 533 scooters sold in September 2023, registering a 684% year-on-year growth. Despite its late entry into the EV segment, Hero MotoCorp already enjoys a 5% market share. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/bmw-ce-02-electric-scooter-launched-in-india-at-4-50-lakh/articleshow/113849708.cms">BMW CE 02 electric scooter launched in India at ₹4.50 lakh</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a>

Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain

<ul><li><keyword id="10577954" type="UNKNOWN" weightage="20" keywordseo="Triton-EV">Triton EV</keyword>, called Tesla's rival in the US, is a subsidiary of Triton Solar.</li><li>In an exclusive conversation with Business Insider, <keyword id="192817" type="PERSON" weightage="20" keywordseo="Himanshu-Patel">Himanshu Patel</keyword>, founder of Triton EV, said that the company is in discussions to list in the US.</li><li>Pre-booking for Triton Model H will start from May 10 onwards in India.</li></ul>The founder of the US-based electric vehicle (EV) company Triton EV is excited for more reasons than one. The company's first car in India is set to be launched while plans for another are underway and a market debut is on the cards. In an exclusive conversation with Business Insider, Himanshu Patel, founder of Triton EV, said that the company is in discussions to list in the US. "We are currently in talks for an IPO and are also looking at raising internal funds," Patel told Business Insider. <div type="image" title="Himanshu B Patel, triton EV." msid="82398823" hostid="261" caption="&amp;lt;p&amp;gt;Himanshu B Patel, Chairman and founder, Triton EV.&amp;lt;/p&amp;gt;"></div> Triton EV, called Tesla's rival in the US, is a subsidiary of Triton Solar. After months of <a href="https://www.businessinsider.in/business/auto/news/an-american-electric-car-maker-explains-why-it-took-a-different-route-than-elon-musks-tesla-tata-motors-or-mahindra/articleshow/80442243.cms">talking</a> about a launch in India, the company is finally ready with the dates. Pre-booking for Triton Model H, its first model in the country, will start from May 10. The Model H is called a ‘Super SUV’ by Patel, and is an 8-seater car. It can go upto 700 miles on a single charge. The company claims it has 1,500 horsepower generated by four wheel-attached motors, and has an acceleration of 0-60 mph in 2.9 seconds. <div type="image" title="Triton Model H." msid="82398835" hostid="261"></div> In the US, where the car was launched last March, Model H costs $140,000. But Patel promises it will be cheaper in India. “But the Model H we are launching in India, is a vehicle made in India. It won’t be directly [sic] that price point, it will definitely be less than what it costs in the US,” he said. Triton has a manufacturing facility in Pune, where it has a manufacturing capacity of 100 cars in five-six months “We will start pre booking for 1000 cars but we will deliver 100 immediately,” he said. With the Model H, Patel is competing with the likes of Audi, Mercedes and more, he said. “We have built a car that suits India instead of just making another car,” said Patel. The car comes with a solar panelled roof, which offsets the air conditioner usage as well, which is a great advantage, as per Patel, for Indians who have to wait for hours in traffic at times. But the Model H isn’t where they stop. Patel is accelerating his plans for the India market, where Elon Musk’s Tesla is also set to debut, this year. Triton has plans to launch their N4 model later this year, which will rival the likes of Toyota, Nissan and others. They are also in talks with various entities for supply of armoured vehicles, making use of their one-way glass bullet proof technology. And for all of this, Triton is pumping $1.2 billion into India over the next five years. Outside of the US, India will be the company’s first manufacturing hub. Triton is also in talks with the Karnataka government for its expansion in the state. <div type="twitter" handle="CMofKarnataka" handlename="CM of Karnataka" image="http://pbs.twimg.com/profile_images/1159778180615426050/PsYI2JqR_normal.jpg" favoritecount="840" retweetcount="65" status="Chief Minister @BSYBJP held a virtual meeting today with Himanshu Patel, CEO and Founder of Triton Electric, on inv… https://t.co/AX4vszH0Di" createdat="1617639074000" id="1379104350576861187"></div> “We are going to use India as a hub for manufacturing and supply to Singapore, Australia and Southeast Asian countries. We are also in talks in Qatar to make the country the hub for Middle East and African markets,” he said. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/the-designer-for-bentley-aston-martin-and-jaguar-will-now-work-on-ola-electric-new-models/articleshow/82383151.cms">The designer for Bentley, Aston Martin and Jaguar will now work on Ola Electric's new models</a> <a href="https://www.businessinsider.in/business/auto/news/maruti-will-take-on-mm-hyundai-and-kia-in-suv-segment/articleshow/82370751.cms">Maruti wants to up its SUV game after Brezza’s success⁠ — that means taking on M&amp;M, Hyundai and Kia head on</a>

EXCLUSIVE: Triton EV founder says it is planning for an IPO soon in the US as the company gears up for its first car launch in India

<ul><li>Even with the failures of <keyword id="8143915" type="UNKNOWN" weightage="20" keywordseo="uber-and-wework">Uber and WeWork</keyword> in the US market, Indian startups are optimistic about their public offer. </li><li>Here’s a list of India’s most prominent startups which could soon head for an IPO. </li><li>Recently, startups like Ola, Lenskart and Policybazaar had appealed to SEBI to make the rules easier for a startup listing.</li></ul>Startups might be looking at new avenues to raise money. And, thanks to their popularity with consumers, it is possible for them to raise it from the public. As the IPO fever has gripped the US markets, Indian founders are watching their performance closely. In spite of tepid response that Uber received and WeWork’s debacle, Indian startups are stubbornly working towards taking their companies public. However, to get funds en masse, companies should be able to show profits. And few startups would qualify. This too is not discouraging startup founders who are confident that their business model will find takers. Recently, <a href="https://inc42.com/buzz/ola-lenskart-and-policybazaar-demand-change-ipo-listing-sebi-guidelines/">startups </a>like Ola, Lenskart and Policybazaar appealed to market regulator SEBI to relax rules for startups to list. Here are the startups who could be making their market debut soon. Uber’s answer: Ola The homegrown ride hailing unicorn has set off strong rumours of an imminent <a href="https://inc42.com/buzz/ipo-is-mobility-unicorn-ola-gearing-up-for-public-listing/">IPO</a> as it has raised fresh funding of ₹35.88 crores from ARK Ola pre-IPO Fund. The fund is based out of Seoul and <a href="https://entrackr.com/2019/09/exclusive-ola-set-up-pre-ipo-trust-public-listing-2-years/">reports</a> say it was formed to aid its IPO plans. The Bhavish Aggarwal-led company has been actively entering new markets across the world, and had also recently set up a technology hub in the Bay Area. Oyo’s fast paced growth and a possible market listing Another company that has been reported to be eyeing an IPO, while also through a fast paced expansion process. Oyo Hotels &amp; Homes is entering new markets or hitting new milestones in a current markets. And reports say, all of its achievements could be leading up to a large IPO that it is planning. A <a href="https://www.livemint.com/companies/start-ups/oyo-s-preparing-to-list-in-next-2-3-years-eyes-up-to-18-billion-valuation-1562609045816.html">Mint</a> report says that the company is looking at a $18 billion valuation and an IPO in 2-3 years. Vijay Shekhar Sharma can’t be far behind Vijay Shekhar Sharma’s PayTm is one of India’s prized payment gateway innovation. At a recent <a href="https://www.hindustantimes.com/business-news/ht-mintasia-leadership-summit-paytm-to-start-planning-ipo-in-22-24-months-says-ceo-vijay-shekhar-sharma/story-67K1gh0yeRbK6Mkd7IfXWK.html">summit</a>, Sharma said that the company will start preparing for an IPO in the next two years. In the financial year 2018-19, Paytm had clocked in a gross transaction value of $50 billion through 5.5 billion transactions. It has also set a target of 12 billion transactions by FY20. <keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>’s desire to be the first payments company to be listed Paytm’s competitor Mobikwik is not too far behind. In July, its payment gateway business has turned profitable. “We will march forward towards an IPO in 2023-24. We will aspire to become the first Indian fintech and first Indian payments - company to get listed in India,” the company earlier told <a href="https://www.businessinsider.in/mobikwik-aims-to-become-the-first-payments-startup-to-go-for-an-ipo/articleshow/70987513.cms">Business Insider India</a>. Mobikwik’s revenues in FY 2019 was 3.5 times higher than those in previous year, at ₹18.4 billion. After all the troubles, Urban Ladder wants profitability and an IPO Online furniture retailer Urban Ladder has been eyeing an IPO for long now. It has said that it is confident of going ahead with it in the next two years. Urban Ladder is in an expansion mode, and as it hopes to turn profitable by the end of 2019. Urban Ladder underwent an organizational restructuring earlier this year, and had to let go off 90 employees. Some of its marquee investors include Ratan Tata, Sequoia India, Steadview Capital, SAIF Partners, and Kalaari Capital. Talking of furniture, Pepperfry is in too! Another furniture retailer, Pepperfry too is closing in on its IPO plans. In an interview with <a href="https://qz.com/india/1714225/pepperfry-indian-furniture-e-commerce-firm-eyes-profits-ipo/">Quartz</a>, Ashish Shah, co-founder of Pepperfry said that they are planning an IPO in one and a half years. Pepperfry has been scaling up its businesses and is also looking at achieving its $1 billion GMV <a href="https://www.moneycontrol.com/news/business/companies/pepperfry-targets-gross-merchandise-value-of-1-billion-by-2021-3754081.html">target</a> by 2021. With over 6 million customers, Pepperfry has 39 offline studios across 22 cities in India. It is also on an expansion mode.

These marquee Indian startups could be lining up for some big-bang IPOs

<ul><li>Ola is restructuring its organization as it heads for an IPO within 24 months, sources told Business Insider. </li><li>Its standalone losses in FY19 stood at ₹1,160.27 crore from ₹2,676.70 crore in the last financial year. </li><li>The ride-hailing company is also putting together governance committees, ethics committee as they head towards an IPO. </li></ul>Ola’s founder Bhavish Agarwal knows that investors on Dalal Street like leaner and meaner organisations. As the $5.7 billion company prepares to raise money from the capital markets, it is laying off people, optimising teams , and adding top executives to put out an attractive offer in two years. The restructuring would mean 5-8% of its 4,500 employees on rolls will either lose jobs or be reassigned to other teams. Less than 250 employees will be let go, a source told Business Insider. Not just that, it is also cutting down on losses as Indian investors prefer to invest in companies that are not in the red. That is work-in-progress for this 9 year old startup. In the last financial year ending March 2019, its standalone losses were at ₹1,160 crore-- which is half of the ₹2,676.7 crore year before. “With a view to become more nimble and have a sharper focus on growth and profitability, we are redesigning the organisation to build a structure that strengthens and leverages our local and global scale and enables faster decision making across all of Ola's group companies,” said an Ola spokesperson. The Board makeover The startup is also reshaping itself to look more like a listed company. It is putting together a governance committee and an ethics committee a source told Business Insider. It is also bringing experienced people into the fold by hiring for top management level across its subsidiary companies – Ola Electric and Ola Financial services. 
 <div type="image" title="16_9 graphics (23)" msid="72292380" hostid="261"></div>



 Ola and its subsidiaries like Ola Electric and Ola Money already have former top executives on board. Some of them are B V R Subbu, the former president of Hyundai India; former <keyword id="15492" type="COMPANY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> CEO Arun Sarin; and Hemant Kaul, the former MD &amp; CEO of Bajaj Allianz General Insurance Even as it grooming itself, it is also thinking and working like a startup. Ola which already has operations in the UK, hurried through to expand in London as soon as its rival Uber’s licence was cancelled in the city.

Ola is shedding flab and getting a makeover as it rides to a big-bang IPO in 2 years

Ola Electric on Sunday forayed into the green mobility space with the launch of its first electric scooter, Ola S1, at a price starting from Rs 99,999 (ex-showroom). The Ola S1 electric scooter would come in two trims -- S1 and S1 Pro -- carrying a price tag of Rs 99,999 and Rs 1,29,999, respectively. "I want to underline that it is going to be the best scooter ever made. It has the best design, performance and technology," Ola Chairman and Group Executive Officer Bhavish Aggarwal told reporters here. With never seen before technology, design and features, the company is looking for a global leadership in the electric two-wheeler segment, he added. The company will officially open Ola S1 for purchase from September 8, and start deliveries across 1,000 cities and towns in October. Till September 8, the company will keep accepting the bookings at Rs 499, Aggarwal stated. He noted that Ola S1 solves one of the biggest challenges which has hampered the growth of the EV sector in India has been the upfront cost. "In states with active subsidy grants, Ola S1 will be much more affordable than many petrol scooters. For instance, after state subsidy in Delhi, the S1 would cost just Rs 85,009 whereas in Gujarat it would be only Rs 79,000," Aggarwal said. The company has also tied up with banks and financial institutes for an EMI plan starting at Rs 2,999, he added. The Ola S1 comes with a range of 181 km, a top speed of 115 km per hour and can be fully charged in less than 40 minutes with a fast charger, and around six hours with the portable charger that will come with the scooter and can be installed at homes. The scooter comes with various features like reverse mode, hill hold function, driving modes and cruise control and takes less than 3 seconds to cross 0-40 km per hour. It comes with keyless lock and unlock system and safety features like an anti-theft alert system and geo-fencing. "Scooters are meant for the young but the industry has made such a vibrant category dull and boring and we are hopeful that we are going to change that," Aggarwal quipped. The scooter comes in 10 colours with in-house development 8.5 KW motor and 3.97 kWh battery packs. Ola is setting up a manufacturing plant, spread across 500 acres, in Tamil Nadu. The company has previously said it is investing Rs 2,400 crore for setting up the facility that will create nearly 10,000 jobs and will be the world's largest scooter manufacturing facility upon completion. Aggarwal noted that the first phase of the 'Futurefactory' is nearing completion. "By the end of the month, it is going to be ready. We bought the land in January and we put up the first pillar at April-end," he noted. The company will initially start with 10 lakh annual production capacity and then scale it up to 20 lakh, in line with market demand, in the first phase. When fully completed, the plant is going to have an annual capacity of one crore units that is 15 per cent of the world's entire total two-wheeler production. "We are building this scale because it is the only way of accelerating this transition to sustainable mobility," Aggarwal noted. Asked when the company expects to reach the one-crore production mark, he said: "Ten million production depends how fast the market scales up. We are estimating it to be within the next two years." "Everything is being done by us. We are working with suppliers for mechanical parts but core parts of electrification are being done by us in-house. It is part of our strategy to control the technology ourselves and also to design the components ourselves and then manufacture them on our own," Aggarwal said. Ola Electric would source items like plastics and tyres from outside vendors and for that, it plans to build an entire ecosystem around the factory, he added. On charging infrastructure, Aggarwal noted that the company would have established presence across relevant cities by the time deliveries commence in October. "Charging station roll out will follow sales rollout, so it will be sales, then charging stations but every city will have at least relevant scale as we begin," Aggarwal said. Ola had earlier stated that it would like to have 5,000 charging stations across 300 cities and towns across India. "That's the goal, we will be targeting that...The company has tied up with various partners and those will get operationalised once deliveries begin," Aggarwal said, adding that all kinds of developers, office complexes and even hospitals would be covered under the exercise. He noted that the scooter would have a hybrid approach when it came to actual sales. The company would have physical experience centres and online channel to sell the product. The sales outlets or the experience centres would come up across the country over the next few months, Aggarwal said. The executive pointed out that the company has received strong demand from about 1,000 towns and cities. "The EV revolution is here to stay whether incumbents like it or not. Consumers have shifted in their mindsets and before we know it, people will be buying only electric," he noted. He further said: "When we are going to share our bookings number with you in few days, I can assure you that it is going to be the highest number of reservations ever for any automobile launch in the country." On exports, he said the shipments would begin soon. "We have been very clear about the fact that we can build in India for the world and (demand for) two-wheelers is growing globally. All across the world, especially after COVID, people want personal mobility options and we want to be the global leaders in this segment," Aggarwal noted. The company's electric scooter would be relevant in markets like ASEAN (Association of Southeast Asian Nations), LATAM (Latin America) and Europe, he said. "The traditional markets for two wheelers have been Asian markets, LATAM and Africa have been growth markets for two-wheelers but the large volumes have always come from the Asian markets," Aggarwal said. Especially after COVID, even the West has opened up and more and more people in Europe want to buy electric two-wheelers, he added. Even in the US and North America, people have started to experience two-wheelers for urban mobility, Aggarwal said. "Over the next four-five years, we will see a lot of evolution. Lot of opportunities will open up globally for two-wheelers and they will have to be electric," he stated. On competition with other electric vehicle brands, Aggarwal stated: "In two-wheelers, the incumbents have not properly invested for electrification and we believe we will absolutely lead the way as our technology is ahead by a few years". When asked if the company is also looking at tapping into the Chinese market, he said: "China is not an immediate priority for us". "There are enough markets beyond that. The Chinese two-wheeler market is a unique one, while it's all electric, its all low-speed, low-quality electric vehicles. Transformation is happening there as well," he added. Aggarwal noted that the company has been very careful to source almost all the components from India, with only the battery cells coming from South Korea. Asked about the chip shortage situation globally, he said the company is dealing with the issue and has been able to overcome the challenge for the short-term. "It is something that the industry would have to deal with over the next 6-9 months...It is a challenge, so we are trying to deal with it," he said. Aggarwal noted that the company plans to enter various segments, including an electric car, in the coming days. He, however, did not share any details. SEE ALSO <a href="https://www.businessinsider.in/business/news/paytm-ipo-former-one-97-communication-director-urges-sebi-to-stall-the-public-issue/articleshow/85293132.cms">Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue</a> <a href="https://www.businessinsider.in/tech/news/windows-11-microsoft-rolling-out-updated-snipping-tool-calculator-and-mail-apps/articleshow/85292943.cms">Windows 11 Microsoft rolling out updated snipping tool, calculator and mail apps</a> <a href="https://www.businessinsider.in/business/corporates/news/infibeam-avenues-is-looking-to-acquire-a-point-of-sale-company/articleshow/85292156.cms">INTERVIEW: Infibeam Avenues is looking to acquire a point-of-sale company</a>

Ola S1 and S1 Pro electric scooters launched starting at ₹99,999

<ul><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> launched its services in two new cities in the UK – Coventry and Warwick.</li><li>Ola is currently operating in 9 cities in the UK.</li><li>It will also offer 50% off on all its rides for the first two weeks in the areas. </li></ul>Indian ride-hailing unicorn Ola expanded its offerings in the UK and launched in two more cities – Coventry and Warwick. With this, Ola is now operating in 9 cities in the UK. “We have learnt a great deal in the last twelve months since the launch, and feel immensely proud that our drivers have already provided over one million rides across the UK,” said Alok Pandya, Ola’s regional manager for the West Midlands, Coventry and Warwick. Ola will offer 50% off on all its rides in the first two weeks of its operations in these two cities. Coventry in UK is famous for its ‘black cabs’ for over 70 years now. It also incentivised the switch over to electric cabs. Ola seems to be honouring the tradition of black cabs by being the only app that can be used by both black cabs and private hire vehicles (PHVs) in the area. In March 2019, Ola expanded to Liverpool, Birmingham and Reading. Ola already made its presence felt in Australia and New Zealand before moving to Europe. Ola’s expansion news comes as the company is reportedly going for an IPO soon. The rumours of a possible IPO turned strong after it raised fresh funding of ₹35.88 crores from Seoul-based ARK Ola pre-IPO Fund. The Bhavish Aggarwal-led company has been actively entering new markets across the world, and had also recently set up a technology hub in the Bay Area.

Ola completes a million rides in the UK and expands to two more cities

Welcome to <keyword id="34991" type="ORGANIZATION" weightage="60" keywordseo="transportation">Transportation</keyword> &amp; Logistics Briefing, a new morning email providing the latest news, data, and insight on how digital technology is disrupting transportation and delivery, produced by BI Intelligence.<a href="http://www.businessinsider.com/intelligence/transportation-and-logistics-briefing" target="_blank" rel="noopener noreferrer">Sign up and receive Transportation &amp; Logistics Briefing free to your inbox.</a>Have feedback? We'd like to hear from you. Write me at: <a href="mailto:jcamhi@businessinsider.com">jcamhi@businessinsider.com</a>.WAYMO TESTS SELF-DRIVING CARS ON PUBLIC ROADS WITHOUT DRIVERS: In a significant step forward for its self-driving car development, Google spinoff Waymo has begun testing its autonomous cars on public roads in Chandler, Arizona without a driver behind the wheel, CEO John Krafcik announced at a conference in Lisbon, TechCrunch <a href="https://techcrunch.com/2017/11/07/waymo-now-testing-its-self-driving-cars-on-public-roads-with-no-one-at-the-wheel/">reports</a>.The announcement makes Waymo the first company to test self-driving cars on public roads in the US without a driver behind the wheel. The vehicles are being tested within a 100-square-mile area of Chandler where Waymo has already been testing autonomous vehicles. For now, the cars are being tested with a Waymo employee riding in the backseat as a passenger.The news means Waymo is getting nearer to its goal of commercializing its self-driving car system. Waymo intends to monetize its self-driving technology by launching a ride-hailing service using cars equipped with its technology. The company has been testing its technology since 2009, longer than any other player in the self-driving space, and recently began testing rides with public volunteers in its Early Rider <a href="https://waymo.com/apply/">program</a> in Arizona. However, all of those tests involved a driver sitting behind the wheel to take over the vehicle in case of emergency. The next steps for Waymo are to expand the driverless tests geographically, open up the tests to Early Rider program participants, and then, finally, pursue a commercial launch. Krafcik said the company wants to broaden the tests beyond Chandler to include the entire Phoenix metro area, and that Waymo will allow members of the Early Rider program to get rides with the driverless test cars "within the next few months." That will make Waymo's service the first to allow consumers to get on-demand rides in a car without a driver, an important milestone in the development of autonomous mobility services. After that, the company will likely begin exploring opening the program up to the broader public through a commercial launch in the Phoenix area. Barring any major obstacles along the way, Waymo seems poised to be the first to commercialize its self-driving technology.<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="BI Intelligence" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/5a021c9b3dbef4f1018b46b8-960/costpermile.png"></a>BI Intelligence</div></div></div>CONTINENTAL ACQUIRES AUTO CYBERSECURITY STARTUP ARGUS: Germany-based Continental AG, one of the world's leading auto parts suppliers, announced last week that it will acquire Israeli automotive cybersecurity startup Argus for an undisclosed amount, Reuters <a href="https://www.reuters.com/article/us-argus-m-a-continental/germanys-continental-buys-israeli-auto-cyber-firm-argus-idUSKBN1D31DR">reports</a>. Israeli media put the deal's worth at around $400 million, Reuters said.Once the acquisition is finalized, Argus' team will be rolled into Continental's Elektrobit subsidiary, and will help develop new cybersecurity solutions for connected cars. Argus previously partnered with Elektrobit to jointly develop a <a href="https://www.continental-automotive.com/en-gl/Passenger-Cars/Interior/Software-Solutions-Services/Over-the-air-Updates-for-multiple-electronic-contr">solution</a>, which launched last month, for delivering over-the-air (OTA) software updates to vehicles. Continental predicts that there will be hundreds of millions of connected vehicles on the road by 2020 that hackers could potentially target. In order to provide security for those vehicles, Elektrobit and Argus will develop cybersecurity solutions and services for the cars, including intrusion detection and prevention, and fleet management and monitoring for enterprises. The companies will also provide security OTA updates for vehicles to immediately patch newly discovered vulnerabilities in their software. Car companies have been embedding internet connectivity into their vehicles for years, but automakers are consistently criticized for not doing enough to ensure those internet connections are secure from hackers: <ul><li>A 2015 Senate <a href="https://consumerist.com/2015/02/09/report-automakers-fail-to-protect-connected-cars-from-security-privacy-hacks/">report</a> blamed automakers for "a clear lack of appropriate security measures to protect drivers from hackers." </li><li>An IDC report from 2016 <a href="http://www.zdnet.com/article/three-years-until-connected-cars-are-cyber-attack-proof/">said</a> auto companies are lagging in addressing vehicle cybersecurity issues, and predicted it would take up to three years for the auto industry to successfully address security vulnerabilities in today's cars.</li><li>Earlier this year, the Alliance for Telecommunications Industry Solutions, which represents many of the telecom companies that provide internet connections to vehicles, <a href="http://www.lightreading.com/security/security-strategies/atis-connected-car-security-an-industry-wide-issue/d/d-id/735350">said</a> connected cars continue to be at high risk of falling victim to various types of cyberattacks.</li></ul>Auto companies have started <a href="https://www.nytimes.com/2017/06/07/technology/why-car-companies-are-hiring-computer-security-experts.html">responding</a> to this threat of cyberattacks on their vehicles, and are ramping up their security efforts. That will lead to increased spending on automotive security solutions like those that Elektrobit and Argus plan to develop. The market for such solutions is expected to expand rapidly, from less than $1 million last year to $759 million in 2023, <a href="http://news.ihsmarkit.com/press-release/automotive-cybersecurity-market-reach-759-million-revenue-2023-ihs-markit-reports">according to</a> IHS Markit.INDIAN RIDE-HAILING COMPANY PARTNERS WITH MICROSOFT: Indian ride-hailing company Ola has partnered with Microsoft to integrate the tech giant's Azure cloud services tools into Ola Play, the company's connected car platform, Money Control <a href="http://www.moneycontrol.com/news/business/ride-hailing-service-ola-ties-up-with-microsoft-for-connected-car-platform-2432301.html">reports</a>. The Play platform, which Ola launched about a year ago, currently allows passengers to stream music and video, and browse the internet through cars' infotainment centers. The ride-hailing company sells the platform to automakers, and many of those firms have agreements in place to lease vehicles to Ola for its ride-hailing business. The integration will allow Ola Play to perform features such as predictive maintenance, navigation, and vehicle diagnostics through Microsoft's connected car suite. This could involve, for instance, the platform collecting data on a car's battery usage and sending it to the Azure cloud to be analyzed. The platform could then trigger an automated alert to tell the driver when the battery will soon need to be replaced.The agreement is part of Microsoft's larger foray into the auto industry to help it diversify its cloud revenue sources. Earlier this year, the company <a href="http://www.autonews.com/article/20170322/MOBILITY/170329936/toyota-gets-license-to-microsofts-connected-vehicle-patents">agreed</a> to license a series of connected car software patents to Toyota. In addition, Volvo, Nissan, and Ford all use Microsoft Azure's connected car software stack to varying degrees. This agreement is just the latest iteration of this strategy to drive future revenue for the company's Azure cloud segment, which brought in <a href="https://www.microsoft.com/en-us/Investor/earnings/FY-2018-Q1/press-release-webcast">$6.9 billion</a> last quarter, and accounted for about 28% of the company's net revenue.Meanwhile, Ola likely hopes the agreement will make the Play platform more attractive to automakers, ultimately boosting the company's ride-hailing service. Features like predictive maintenance and on-board diagnostics can save companies millions by preventing a costly trip to the repair shop. This may persuade more automakers to use Ola Play in their cars, and could grow the company's ride-hailing fleet by bolstering its relationship with those automakers. That may well strengthen its position in its <a href="http://www.businessinsider.com/transportation-and-logistics-briefing-tesla-falls-short-of-model-3-production-goals-ola-raises-2-billion-to-combat-uber-walmart-acquires-parcel-for-same-day-delivery-push-2017-10">ongoing fight</a> with Uber.IN OTHER NEWS<ul><li>Lyft's chief operating officer, Rex Tibbins, plans to leave the company by the end of the 2017, TechCrunch <a href="https://techcrunch.com/2017/11/06/lyfts-chief-operating-officer-will-leave-by-the-end-of-this-year/">reports</a>. This means the firm now needs to fill a key leadership position as it prepares for an initial public offering (IPO) sometime late next year or in early 2019. Meanwhile, the company <a href="https://techcrunch.com/2017/11/07/lyft-opens-first-permanent-office-in-nyc/">will set up</a> its first permanent office in New York City in the coming weeks, which will house sales and marketing teams and a handful of its autonomous vehicle engineers.</li><li>Southeast Asian ride-hailing company Grab recently announced that it has completed 1 billion rides, according to <a href="https://techcrunch.com/2017/11/05/uber-rival-grab-crosses-1-billion-rides-in-southeast-asia/">TechCrunch</a>. The company, which was founded in 2012, now covers 142 cities in Thailand, Indonesia, Vietnam, Singapore, Malaysia, the Philippines, and Myanmar. Grab joins Didi Chuxing and Uber, its Chinese and American counterparts, in reaching this milestone.</li><li>The US Department of Transportation (DOT) announced it will partner with five cities to accelerate adoption of drone use within their confines, Supply Chain Dive <a href="https://www.supplychaindive.com/news/drone-DOT-cities-regulations-loosen-FAA/510074/">reports</a>. The DOT, which announced this initiative late last month, will accept applications from cities around the country for 57 days before deciding which five cities it will work with. The program is designed to help foster innovation in the drone space, while helping the DOT learn how to manage drone traffic for new applications of the technology, like drone delivery.</li></ul><div id="categorypromo"><h2><a href="http://www.businessinsider.com/intelligence/top-5-disruptive-trends-shaping-transportation-and-logistics">Click here to receive a FREE download of The Top 5 Disruptive Trends Shaping Transportation and Logistics from BI Intelligence, Business Insider's premium research service.</a></h2></div>

TRANSPORTATION AND LOGISTICS BRIEFING: Waymo's first to test cars on public roads without driver - Continental acquires auto cybersecurity startup Argus - Ola enlists Microsoft for its connected car platform

Welcome to <keyword id="34991" type="UNKNOWN" weightage="60" keywordseo="transportation">Transportation</keyword> &amp; Logistics Briefing, a new morning email providing the latest news, data, and insight on how digital technology is disrupting transportation and delivery, produced by BI Intelligence.<a href="http://www.businessinsider.com/intelligence/transportation-and-logistics-briefing" target="_blank" rel="noopener noreferrer">Sign up and receive Transportation &amp; Logistics Briefing free to your inbox.</a>TRANSPORTATION &amp; LOGISTICS BRIEFING will not appear Monday, September 4, due to the Labor Day holiday in the US.Have feedback? We'd like to hear from you. Write me at: <a href="mailto:jcamhi@businessinsider.com">jcamhi@businessinsider.com</a>.NEW UBER CEO TARGETS IPO IN 18 TO 36 MONTHS: In an all-hands meeting with company employees, incoming Uber CEO Dara Khosrowshahi said the ride-hailing startup should make its initial public offering (IPO) in the next 18 to 36 months, <a href="https://www.cnbc.com/2017/08/30/uber-ipo-date-2019-to-2021.html">according to</a> a report from CNBC.In order to set the ground for a potential IPO, Khosrowshahi said he would make it a priority to "pay the bills," apparently referencing the company's continued losses. Those losses totaled $645 million in Q2 2017, despite $1.75 billion in adjusted revenue. That was down from $708 million in losses in Q1 2017, and $991 million in Q4 2016. Although Uber's revenue has been increasing and its losses narrowing, getting in the black will likely be a tall task for the company in the immediate future. Uber is facing increasing competition in multiple markets and its reputation has been severely damaged by a long string of scandals going back to the beginning of the year. Uber's share of the US ride-hailing market fell from 84% at the beginning of this year to 77% at the end of May, <a href="https://www.ft.com/content/b4fb76a6-52dd-11e7-bfb8-997009366969">according to</a> Second Measure, which analyzes anonymized credit card data. Meanwhile, Lyft has been making impressive gains - it hit the 1 million rides per day mark this past June and grew its gross bookings by 25% sequentially in Q2 to more than $1 billion. Additionally, Grab, Uber's biggest rival in Southeast Asia, is <a href="https://www.cnbc.com/2017/07/24/uber-rival-grab-expects-to-raise-2-point-5-billion-dollars-in-new-funding-round.html">expected</a> to close a new $2.5 billion funding round soon.Uber will have to prioritize whether to defend market share or cut its losses further. Reaching profitability will mean reducing the new rider discounts and incentives for new drivers that helped Uber grow its global ride-hailing business in the first place. It may also require raising prices on riders, which would likely give Uber's competitors a boost. Another option for Uber could be taking a bigger share of the revenue from rides, but that would mean paying its drivers less, possibly driving them to work for competitors.Uber also may consider pulling out of some markets, Quartz reports. It has already pulled out of China, and <a href="https://qz.com/1028866/yandex-taxi-yndx-bested-uber-in-russia-it-wasnt-cheap/">merged</a> its business in Russia earlier this year with domestic ride-hailing company Yandex Taxi. Uber may look to exit developing markets where it faces intense competition and little chance of making significant margins. Southeast Asia could be one such market, as Grab continues its expansion there, Quartz points out. Other candidates include India, where Uber is battling domestic alternative Ola, and Brazil, where it's competing with <a href="http://www.reuters.com/article/us-brazil-ridehailing-softbank-group-idUSKBN18K2XE">99</a>. Retrenching from some developing markets could help Uber further cut its losses, but it would still need to figure out a strategy for defending its position in the US, its most important market, and rebuilding its reputation.<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="BI Intelligence" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/59a86ccf79bbfd21008b71b2-960/uber gross bookings.png"></a>BI Intelligence</div></div></div>DELIV EXPANDS CROWDSOURCED DELIVERY SERVICE TO HELP RETAILERS COMBAT AMAZON: Deliv, a crowdsourced delivery startup, announced it is expanding its service to 33 new markets, nearly doubling its footprint across 23 US states and more than 1,400 cities. Some of those new markets include Denver, Austin, San Antonio, Orlando, Phoenix, and Charlotte. The startup, which was founded in 2012 and is backed by UPS, counts Best Buy, Bloomingdales, and Macy's among its retail partners.Deliv aims to help retailers improve their online sales and fend off Amazon by speeding up their deliveries. Customers can select from one-, two-, and three-hour delivery windows when they order from the retailer's app or website. This gives retailers a same-day delivery option to compete with Amazon's Prime Now <a href="http://www.businessinsider.com/amazon-prime-now-how-it-works-2017-6">service</a>, which provides free two-hour delivery on more than 25,000 items to Prime members in select cities. Amazon has been steadily expanding Prime Now, bringing it to more markets and adding new product categories - beer and wine products were <a href="https://www.popsugar.com/food/Amazon-Prime-Now-Alcohol-Delivery-43947735">introduced</a> just this week.Amazon's expansion of Prime Now could have a powerful impact on online shoppers' delivery expectations, and retailers and their logistics partners are working hard to respond. Consumers are already increasingly expecting same-day delivery - 61% of respondents to a UPS <a href="https://pressroom.ups.com/mobile0c9a66/assets/pdf/pressroom/white%20paper/UPS_2017_POTOS_media%20executive%20summary_FINAL.pdf">survey</a> earlier this year said they expect goods ordered before noon to be eligible for delivery that day. As Prime Now grows, it will likely push more consumers to expect same-day delivery, which could help Amazon steal business from competitors who don't offer it. Nearly 90% of respondents to a <a href="http://www.dotcomdist.com/Study-Delivery-Time-Influences-87-Percent-of-Online-Shoppers-92-Purchase-Decisions">survey</a> released last year by e-commerce fulfillment company Dotcom Distribution said delivery times had influenced their online buying decisions.Several retailers and logistics companies have recently announced expanded same-day delivery options. FedEx brought its same-day delivery service to <a href="http://www.businessinsider.com/transportation-and-logistics-briefing-ubers-losses-narrow-despite-lyfts-gains-drone-delivery-service-launches-in-iceland-audi-qualcomm-invest-in-connected-car-startup-2017-8">new</a> cities last week, while Walmart <a href="http://www.businessinsider.com/walmart-is-testing-grocery-delivery-with-help-from-uber-2017-8">expanded</a> its same-day grocery delivery offering with UberRUSH. Crowdsourced delivery companies - including Deliv and UberRUSH - can help retailers provide same-day delivery in urban areas by quickly connecting them with nearby couriers available for immediate deliveries. As Amazon continues to push consumers' expectations for faster deliveries, more retailers will likely turn to crowdsourced delivery options as a countermeasure to the e-commerce giant's fulfillment capabilities.Enjoy reading this briefing? <a href="http://www.businessinsider.com/intelligence/transportation-and-logistics-briefing" target="_blank" rel="noopener noreferrer">Sign up and receive Transportation &amp; Logistics Briefing to your inbox.</a>TOYOTA TO TRACK GRAB DRIVERS TO EXPLORE FINANCIAL SERVICES: Japanese auto giant Toyota will install tracking devices on the vehicles belonging to 100 drivers who work for Southeast Asian ride-hailing service Grab, The Wall Street Journal <a href="https://www.wsj.com/articles/toyota-grabs-bigger-piece-of-ride-hailing-action-1504072197?mod=djemlogistics">reports</a>. Toyota is one of the major investors, along with Softbank and Chinese ride-hailing giant Didi Chuxing, set to put $2.5 billion in new funding in Grab.Toyota plans to use the tracking data it gathers to develop new usage-based insurance, auto financing, and other mobility services, according to the WSJ. Toyota has been very active in exploring new services. In addition to its Grab investment, it has a deal to test self-driving taxis with Uber, and partnered with car-sharing startup Getaround to <a href="https://www.wsj.com/articles/toyota-invests-in-car-share-startup-getaround-1477654599">test</a> some of Toyota's technology in its cars.The rise of alternative mobility services is opening up new revenue opportunities for traditional automakers. Besides launching their own ride-hailing and car-sharing service, automakers can also supply cars and repairs for other companies operating such services. GM's Maven car-sharing service, for example, lets Uber and Lyft drivers <a href="http://www.businessinsider.com/transportation-and-logistics-briefing-gm-explores-on-demand-rides-and-deliveries-pelotons-plans-to-disrupt-trucking-ota-updates-coming-to-trucks-2017-8">rent</a> its cars for $229 per week. Its vehicles have provided 17.5 million rides for those ride-hailing services. Toyota's interest in offering financing and insurance could be another extension of this trend. As ride-hailing services grow in emerging markets, like those where Grab operates, recruiting drivers will likely require helping them attain financing for new cars and insurance to protect them in case of accidents. Many automakers, including Toyota, already have financial services arms that specialize in auto finance, so extending these arms to offer services that cater to ride-hailing drivers would be a natural fit for these businesses.In other news…<ul><li>Apple <a href="http://www.businessinsider.com/apple-auto-engineers-join-zoox-report-2017-8">lost</a> 17 engineers from its flailing self-driving car project to self-driving startup Zoox. The engineers reportedly left because of Apple's decision to turn the project's focus to self-driving software, rather than actually building a self-driving car. The engineers who left all specialized in traditional auto systems, including braking and steering. Apple's car project has failed to make much progress since its founding in 2014, and it remains far behind other players, including Google's Waymo, in deploying test cars with its self-driving technology. Meanwhile, Zoox plans to build a fleet of self-driving vehicles to provide rides in urban areas.</li><li>Swiss Post is <a href="http://postandparcel.info/82009/news/swiss-post-testing-delivery-robots-in-zurich/">testing</a> delivery robots in downtown Zurich, in partnership with robotics startup Starship Technologies and department store Jelmoli. Customers can select the delivery robots as a fulfillment option during the checkout process on Jelmoli's website, along with their preferred delivery slot. When the robot is close to the delivery location, the customer receives a code by SMS text message that allows them to unlock the robot's locker to retrieve their items. Swiss Post previously ran a trial in October 2016 with Starship Technologies, which is one of the early leaders in the emerging delivery robots space. Swiss Post said that it is planning further tests with Starship Technologies to use its robots for food deliveries and sending medical products.</li><li>Daimler <a href="https://www.theverge.com/2017/8/30/16226514/smart-vision-eq-electric-future-car2go">unveiled</a> the new Smart Vision EQ fortwo Concept car, an autonomous car designed for shared mobility services. The concept features no driver controls such as a steering wheel or pedals, and an LED display on the front of the car that can display messages as the car pulls up to pick up passengers. The concept might well never make into production, but shows how automakers are thinking ahead to how the designs and functionality of their vehicles will need to change with the advent of autonomous cars that don't require a driver.</li></ul><div id="categorypromo"><h2><a href="http://www.businessinsider.com/intelligence/transportation-and-logistics-briefing">Click here to sign up for the new FREE newsletter on Transportation &amp; Logistics from BI Intelligence, Business Insider's premium research service.</a></h2></div>

TRANSPORTATION AND LOGISTICS BRIEFING: Uber CEO eyes IPO before 2020 - Deliv expands same-day delivery service - Toyota partners with Grab

<div class="KonaFilter image-container display-table"><div><div class="image on-image">(Photo by Kevork Djansezian/Getty Images)</div></div></div>Uber is currently raising more money - <a href="http://www.bloomberg.com/news/articles/2015-12-03/uber-raises-funding-at-62-5-valuation">up to $2.1 billion</a> - at a valuation of about $62.5 billion. The round will bring the five-year-old company's total amount raised to just over $12 billion.And as of this moment, the company says it has no plan to go public, despite generating more than $10 billion in gross annual revenue. The last time we saw a private company scale to a $60+ billion valuation was Facebook in 2011. In March 2011, fourteen months before Facebook went public, it was <a href="http://dealbook.nytimes.com/2012/02/01/tracking-facebooks-valuation/?_r=0">valued at $65 billion</a> when General Atlantic reportedly bought less than 0.1% of the company. But a year later Facebook was essentially forced to go public. Basically it had so many shareholders that, according to SEC guidelines, it would have to start reporting its business metrics as if it were a public company.Facebook priced its IPO at more than $100 billion in 2012, making it the <a href="http://www.forbes.com/sites/tomiogeron/2012/05/17/facebook-prices-ipo-at-38-per-share/">third most-valued public offering of all time</a>, only trailing Visa and Enzel.Even though Uber is almost the same size and scale as Facebook was back then, it's in a substantially better situation. The company has been careful to learn from Facebook's missteps and control who owns its stock so it isn't forced into an IPO.CEO Travis Kalanick hasn't even sold any of his shares."It took Facebook a long time to go public, but once they did, Zuck has become a huge proponent - is it misery enjoys company?" Uber CEO <a href="http://www.businessinsider.com/uber-is-nowhere-near-going-public-2015-10">Kalanick joked at the WSJD Live conference</a> in October.How is a founder able to raise $12 billion at a $62.5 billion valuation and resist the pressure to go public? Here's what Kalanick did to get himself and Uber in a cozy position, flush with both cash and control. <h2>Circumstances have changed since Facebook's IPO</h2><div class="KonaFilter image-container display-table"><div><div class="image on-image">AP</div></div></div>It's easier for startups to stay private longer than it was when Facebook filed to go public.First, there's a lot more money chasing private companies than there was in 2011.That doesn't help every private company: Jack Dorsey's payment company Square, for example, recently went public to gain the capital necessary to continue growing its business. But Uber's fundamentals are strong enough that it still has a line of investors eager to give it capital, and it's always in fundraising mode."In years and decades past, you'd go public for that last slug of capital to get to market," <a href="http://www.businessinsider.com/uber-is-nowhere-near-going-public-2015-10">Uber CEO Travis Kalanick said at the WSJD Live conference</a> in October. "And the dynamics have changed. There's a lot of money in the private markets. So that part of going public is no longer there."Government regulations have changed in favor of companies staying private longer as well.When Facebook began the process of going public, the SEC required private companies with more than $10 million in assets and 500 shareholders to comply with some of the burdensome reporting requirements public companies have.But in April 2012, <a href="http://www.lathropgage.com/newsletter-44.html">the JOBS Act (Jumpstart Our Business Startups Act) increased this threshold</a> so private companies with $10 million or more in assets could have up to 2,000 shareholders without having to comply with SEC public company reporting rules. Additionally, people who own restricted stock units (RSUs) or other forms of equity under the company's compensation plans don't count toward that 2,000 number. And for the past few years, Uber has given its employees RSUs instead of stock option grants. <h2>Why RSUs?</h2>Ron Fleming, a partner in charge of emerging companies at law firm Pillsbury Winthrop Shaw Pittman, explained to Business Insider why RSUs have become increasingly popular for fast-growing private companies.Basically, options are riskier for employees, who may end up with no stake in the company if they leave before a liquidity event (like an IPO or sale).If a company's valuation rises dramatically, employees who leave before a liquidity event may not be able to afford to buy the options at their initial strike price - there's no easy way to sell shares to cover the bill.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Business Insider/Mike NudelmanTravis Kalanick and Mark Zuckerberg have actually been friends for a while. Kalanick took Mark Zuckerberg out to a NYC club after his first meeting with Sean Parker, as documented in "The Social Network."</div></div></div>With RSUs, there's no exercise price. The company simply agrees to grant the employee stock on a regular vesting schedule. That means an employee who leaves the company doesn't have to pay to acquire her vested shares (although taxes can still be an issue). RSUs are also better for employees if a company loses value. For example, if an employee has a stock option grant at $4 per share, and then the company's valuation drops 25% due to poor performance or bad market conditions, the employee's stock options are worthless. RSUs would still be worth $3 a share.<h2>Keeping a tight leash on Uber stock</h2>It's important to remember that Uber is only five years old. So while you might think early-stage investors and employees would be pounding the table for a liquidity event, five years is a relatively short time to wait for a return on investment in a startup. Typically investors need to wait seven or eight years to pay back their LPs.In Uber's case, it's not particularly easy for shareholders to get liquidity either.Take this story, for example.A tech executive relayed a friend's experience with Uber to Business Insider. The friend was trying to buy Uber shares from an early Uber investor and had struck a deal to purchase them. The early investor and the friend took the deal to Uber for approval, but the company shut it down."They brought it to Travis and he said, 'You can sell your stock, but only back to Uber at this price.'" The price, this person claims, was heavily discounted off of Uber's valuation at the time. <a href="http://fortune.com/2014/06/20/uber-plays-hardball-with-early-shareholders/">Fortune's Dan Primack</a> was told a similar story:An early Uber employee thought that he had found a buyer for his vested stock, at $200 per share. But when his agent tried to seal the deal, Uber refused to sign off on the transfer. Instead, it offered to buy back the shares for around $135 a piece, which is within the same <a href="https://www.theinformation.com/The-Math-Behind-Ubers-18-Billion-Valuation">price range</a> that Google Ventures and TPG Capital had paid to invest in Uber the previous July. Take it or hold it.One reason Uber may be so protective of its stock is that other big tech companies like Twitter, Facebook, and Google weren't, and it caused them issues later on.In the case of Twitter, Chris Sacca, a billionaire investor, made a fortune when he somewhat sneakily bought up the majority outside stake. Before Twitter's IPO, Sacca reportedly created a few generically named investment vehicles, and aggressively bought Twitter stock from early employees and investors on secondary markets.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.youtube.com/watch?v=Q6NpHbMFaQ8">YouTube/Kevin Rose</a></div></div></div><a href="http://www.forbes.com/sites/alexkonrad/2015/03/25/how-venture-cowboy-chris-sacca-made-billions/">Forbes' Alex Konrad describes the move</a> as "accumulating the largest outside position in Twitter right under their noses."Sacca, who invested an early $300,000 in Uber, reportedly tried the a similar approach with Travis Kalanick's company, but Kalanick found out and shut it down, according to Forbes. However, we've heard that Uber was not upset about Sacca trying to buy shares, but trying to sell shares he'd already bought without following certain guidelines Uber had said out. Another Uber insider says the stock situation, while annoying to Kalanick, wasn't actually what drove Kalanick and Sacca apart, but declined to elaborate further.Regardless, it's a good example of how tightly Uber controls its stock. "Travis wants to be in control, so when you do things behind his back he thinks he can't control you anymore and you're dead to him," one person familiar with the pair told Business Insider.Uber has no problem admitting it's a control freak when it comes its stock. "We have very strict transfer restrictions in place and pursue necessary means to ensure they are respected and to limit any fraudulent activity," an Uber spokesperson tells Business Insider. "The only way to invest in Uber is through Uber." Sacca declined to comment for this story.<h2>Selling the future</h2><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Travis Kalanick in one of Uber's first offices.</div></div></div>Uber's management team knows how to create hype. But unlike most startups, Uber has the revenue, growth, and execution to back up its claims. <a href="http://www.businessinsider.com/uber-travis-kalanick-bio-2014-1">Kalanick has always been a salesman</a>, and he knows exactly how to get investors excited.The Information's Jessica Lessin describes <a href="https://www.theinformation.com/inside-ubers-private-roadshows">Uber's current fundraising strategy as something that resembles an IPO</a> roadshow:Uber CEO Travis Kalanick and other executives have been on a roadshow giving investors a two-hour management presentation-followed by Q&amp;A-after they sign serious NDAs...Before the meeting, the investors are told very little about the company's financials. At the end, and after receiving data, they have been asked how many shares they would be willing to buy based on various valuation targets, which ranged from $60 billion to $80 billion this time.The big selling point, an early Uber investor tells Business Insider, is Uber's growth potential in Asia. There, ride-hailing competitors like Didi and Ola dominate. But if Uber can capture more of the market, it can become even more gigantic."The company is selling the future in Asia," an Uber investor tells Business Insider. "I don't even think they're talking about self-driving cars. They're saying, if 30% of our revenue is in Asia, imagine how our company will look in the next five years if we nail India and China. Look at the potential market waiting for you."<h2>Being exceptional</h2><div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Anindito MukherjeeUber taxi drivers hold placards during a protest against the ban on online taxi services, in New Delhi December 12, 2014.</div></div></div>Uber wouldn't be able to get away with any of this if it wasn't truly an exceptional business. It doesn't own cars; it's merely a logistics business, connecting supply and demand, taking around 20% of every trip total, and leaving the other 80% for drivers.The company will <a href="http://www.reuters.com/article/us-uber-tech-fundraising-idUSKCN0QQ0G320150821#TmxfzV8xeb6jIPiI.97">generate more than $10 billion this year</a>, according to an internal document obtained by Reuters in August, of which Uber will keep about $2 billion. And its growth shows no signs of slowing. Projections for next year are nearly triple this year, at about $26 billion in gross revenue."Uber has unbelievable growth," a source familiar with the company tells Business Insider. "Usually companies grow a lot in the beginning, then they reach an inflection point. I don't think this company has reached that inflection point yet."Like the biggest businesses in the world, Uber didn't just create a world-class product. It invented an entirely new industry, the on-demand industry, where anything from food to cars can be hailed with one button push on a smart phone. "This company created a new economy," an early Uber investor tells Business Insider. "It's not a traditional company. It invented a new way to transact and it's a pioneer. What Google did for search, that's what Uber has done for the sharing economy. Before Uber, it wasn't anything." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/taxi-driver-dragged-by-uber-2015-12">A angry taxi driver latched onto an Uber car and got dragged down the street</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="syaDhneTqVs3YVNSOQv_tUotKibiXjkx" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

How Uber cleverly controlled its stock so it won't have to go public anytime soon - unlike Facebook, Twitter, and Google

<ul><li>The <keyword id="21304169" type="General" weightage="20" keywordseo="Pixel-9-Pro" source="keywords">Pixel 9 Pro</keyword> will go on sale in India on October 17.</li><li><keyword id="21304170" type="General" weightage="20" keywordseo="Pixel-9" source="keywords">Pixel 9</keyword> Pro was launched alongside the Pixel 9 and the Pixel 9 Pro XL.</li><li>Here’s everything you need to know about the flagship smartphone from <keyword id="19902762" type="General" weightage="20" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword>.</li></ul> Google launched its flagship Pixel lineup, the<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 series</a> in August, consisting of the vanilla Pixel 9, Pixel 9 Pro and the premium Pixel 9 Pro XL. While the Pixel 9 and Pixel 9 Pro XL went on sale soon after the launch, the Pixel 9 Pro will be available for the first time later this month. Google has now announced that the Pixel 9 Pro will be available from October 17 from Flipkart. <div type="Article" hostid="261" msid="112512198" title="Pixel 9, Pixel 9 Pro and Pixel 9 Pro XL launched in India starting at ₹79,999" mstype="2" mssubtype="0"></div> <h2>Pixel 9 Pro price and availability</h2>The Pixel 9 Pro has been priced at ₹1,09,999 for the 16GB RAM + 256GB internal storage variant. The device comes in Hazel, Porcelain, Rose Quartz, and Obsidian colour options. The device will be available from Flipkart from October 17, 12 PM. <h2>Pixel 9 Pro specifications</h2>The Pixel 9 Pro runs on Android 14 out of the box and is promised to get seven years of Android updates, Pixel Drops and security patches. The device features a 6.3-inch 1.5K LTPO AMOLED display with a 120Hz refresh rate, Gorilla Glass Victus 2 protection and 3,00 nits peak brightness. The Pixel 9 Pro is powered by the Google Tensor G4 chipset built on Samsung’s 4nm process and comes in a single 256GB internal storage variant. Coming to the camera department, the Pixel 9 Pro features a triple camera setup at the back, consisting of a 50MP primary camera with a Samsung GN2 sensor, OIS, a 48MP Quad-Phase detection autofocus ultra-wide-angle camera with Sony IMX858 sensor and a 48MP 5x telephoto camera with up to 30x super-res digital zoom. On the front, the device features a 42MP selfie camera with a Sony IMX858 sensor. The device comes with a skin temperature sensor, which is placed next to the camera setup. The Pixel 9 Pro is powered by a 4,700mAh battery with 27W wired and 21W wireless charging support. It comes with an ultrasonic in-display fingerprint scanner and is IP68-rated for water and dust resistance. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/hyundai-ipo-review-everything-you-need-to-know-about-indias-biggest-ipo/articleshow/114203740.cms">Hyundai IPO review – Everything you need to know about India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms">The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-series-allows-users-to-wirelessly-restore-the-firmware-using-an-iphone-or-ipad/articleshow/113455048.cms">iPhone 16 series allows users to wirelessly restore the firmware using an iPhone or iPad</a>

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How Uber cleverly controlled its stock so it won't have to go public anytime soon - unlike Facebook, Twitter, and Google

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