Ola Electric Mobility raises £42m in funding round

Ola Electric Mobility, a company backed by Indian ride-hailing platform Ola, has raised 4 billion rupees (£42m) in an initial funding round. Ola hopes to bring one million electric vehicles (EVs) to India by 2022 and is currently running pilots to deploy EVs and charging solutions for electric two-wheeler and three-wheeler services. Anand Shah, head of Ola Electric Mobility, says electric mobility requires chargers which can provide a reliable replacement for the petrol pump. “By making electric easy
March 6, 2019 Read time: 1 min

Ola Electric Mobility, a company backed by Indian ride-hailing platform Ola, has raised 4 billion rupees (£42m) in an initial funding round.

Ola hopes to bring one million electric vehicles (EVs) to India by 2022 and is currently running pilots to deploy EVs and charging solutions for electric two-wheeler and three-wheeler services.

Anand Shah, head of Ola Electric Mobility, says electric mobility requires chargers which can provide a reliable replacement for the petrol pump.

“By making electric easy for commercial vehicles that deliver a disproportionate share of kilometres travelled, we can jumpstart the electric vehicle revolution,” Shah adds.

The funding round was led by investment firm Tiger Global and Matrix India, an early stage investor in start-ups.

Related Content

  • August 21, 2018
    Helsinki’s residents trial MaaS as alternative to private cars
    Would you give up your own car? Helsinki implemented MaaS late last year and Colin Sowman discovers that the initial reaction has been positive What would it take for you to give up your own car? That is the question posed by Sampo Hietanen, the so-called ‘father’ of Mobility as a Service (MaaS) and CEO of MaaS Global. And he is about to discover if MaaS really will convince the people of Helsinki to do the unthinkable. MaaS Global introduced a fledgling version of its Whim app in the city in late 2016
    Read More
  • December 11, 2020
    Gridserve unveils 'mass charging' EV forecourt
    Company says it can charge 36 EVs at once, adding 200 miles of range in 20 minutes
    Read More
  • November 26, 2019
    Sampo Hietanen: “Why BP investment in MaaS Global is a good thing”
    As a multinational oil giant, BP might not seem like the greenest choice for sustainable mobility provider and Whim owner MaaS Global. Sampo Hietanen explains his reasoning...
    Read More
  • February 24, 2016
    US government announces eighth round of TIGER funding
    US Transportation Secretary Anthony Foxx has announced that US$500 million will be made available for transportation projects across the country under an eighth round of the highly successful Transportation Investment Generating Economic Recovery (TIGER) competitive grant program. The 2016 TIGER discretionary grants will fund capital investments in surface transportation infrastructure and will be awarded on a competitive basis for projects that will have a significant impact on the nation, a metropoli
    Read More

Highlighted Content