EV manufacturer Ola Electric has invested in Israeli battery technology company StoreDot, a pioneer of Extremely Fast Charging (XFC) batteries. The investment in StoreDot is the first of several global strategic investments planned by Ola Electric as it seeks to leverage its core R&D in advanced cell chemistry and manufacturing, as well as other battery…
Ola Electric, a manufacturer of EVs in India, announced it has appointed Dr. Prabhakar Patil, former Chief Executive Officer of LG Chem Power, to its Board of Directors. Welcoming Dr Patil onto the Board of Ola Electric Mobility, Bhavish Aggarwal, Founder and CEO, Ola, said, “We are investing deeply in core R&D to create indigenous…
Ola Electric, India’s EV manufacturer, has announced that it has raised over US$200 million led by Falcon Edge, Softbank and others, at a valuation of US$3 billion. A statement said, “Ola will accelerate development of other vehicle platforms including electric motorbike, mass market scooter and its electric car. The announcement will further strengthen Ola’s “Mission…
Ola, a mobility platform, has announced that Temasek and Plum Wood Investment Ltd, an affiliate of Warburg Pincus, a global private equity fund focused on growth investing, are partnering with Ola founder Bhavish Aggarwal for a $500M investment ahead of Ola’s IPO. The platform said in a statement, “This is amongst the largest investments in…
Ola, one of the world’s leading mobility companies, announced expansion of its leadership team with the appointment of two Chief Financial Officers. G. R. Arun Kumar joins as the Group CFO for Ola & CFO for Ola Electric, while Swayam Saurabh has come in as CFO for Ola’s Mobility, Financial Services and Foods businesses. Having worked across varied consumer and…
Rakesh Bhardwaj has joined mobility platform Ola as Global Chief Information Officer. He will be based out of Bengaluru and will report to the company’s co-founder and CEO, Bhavish Aggarwal. In this new role, Bhardwaj will be working closely with businesses and partners, providing strategic direction to Ola’s process and technology initiatives, which will cover…
Ola Electric has hired N Balachandar as Chief Human Resources Officer. In his new role, Balachandar will accelerate Ola Electric’s journey to become a world-class talent organisation, with a focus on people and culture globally. Balachandar (or Bala) is a 33-year industry HR veteran, and brings global experience to the company, having worked across India,…
Mobility platform Ola announced it has signed the MoU with the Tamil Nadu government for an investment of 2,400 crores in setting up its first factory in the state. Upon completion, the factory will create almost 10,000 jobs and will be the world’s largest scooter manufacturing facility, which will initially have an annual capacity of…
Ola announced it has appointed GM veteran Jose Pinheiro as its Head of Global Manufacturing and Operations for its Electric Business. In this new role, Jose will spearhead Ola’s ambitions to build world class manufacturing facilities starting with the world’s largest scooter factory, and then expanding to multiple such facilities across India. These facilities will…
Avail Finance, a Bengaluru-based financial care service provider for the unorganised workforce of India, announced that it has raised about Rs 87 crore in a Series B funding round, led by Falcon Edge Capital, as per Entrackr report. Existing investor Matrix Partners also participated in the funding round. Alphawave Incubation, which is managed by Falcon…
Ola Foundation, the social welfare arm of Ola, released a report detailing the impact of the ‘Drive The Driver’ fund and its efforts in assisting driver-partners and their families during the ongoing COVID crisis. Launched in March, the fund assisted the driver community through contributions from the Ola Group, its employees, Bhavish Aggarwal, co-founder and…
Ola Electric Mobility Pvt Ltd announced the acquisition of Etergo BV, an innovative electric scooter OEM, based out of Amsterdam, the Netherlands. Etergo’s team will continue to be based out of Amsterdam as they join Ola Electric. With this acquisition, Ola Electric has also announced its entry into the premium electric two-wheeler market, both globally…
Indian unicorns are now struggling to keep their businesses afloat. Layoffs and salary cuts have now become a daily news from these new-age startups. Joining the likes of Swiggy, Zomato, and Uber, ride-hailing Indian unicorn Ola has decided to lay off staff. In a company blog post written by the CEO Bhavish Aggarwal, it was…
Ola, the leading ride-hailing company, has appointed Sanjiv Saddy as senior vice president, Corporate Affairs. Prior to this, he was working with Flipkart, leading its government relations and corporate affairs mandate. He has also worked with Tata Communications, Emaar MGF Land Ltd and Travels Ltd, among other companies. In an email to the Ola employees,…
Ratan Tata would be investing in Pune-based e-bike startup Tork Motors. Tork Motors is an electric vehicle and charging infrastructure manufacturing venture. The company was founded by Kapil Shelke in 2010. The company is due for the commercial launch of T6X, its flagship offering. With this launch, Tork T6X will be India’s first electric performance…