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

  • September 20, 2021
    ITSWC 2021: New solutions for the new normal
    October’s ITS World Congress in Hamburg will profile the changing face of mobility, with real-world examples of electric vehicle implementation, shared transport and autonomy taking centre stage
    Read More
  • November 15, 2019
    Liberty Global sets sights on sparking on-street EV charging
    Liberty Global is utilising the network infrastructure of its UK subsidiary Virgin Media with the aim of improving on-street electric vehicle (EV) charging. The telecoms company says it will utilise Virgin Media’s 40,000 powered street cabinets and 170,000 km of ducts as part of a partnership with Innovate UK. Jason Simpson, Liberty’s vice president global energy and utilities, says the street cabinets allow the company to “look beyond traditional uses of telecom infrastructure and make a positive impact
    Read More
  • November 22, 2021
    LA microgrid to charge 100 e-buses
    Project is expected to reduce emissions and lower LADoT’s electricity costs 
    Read More
  • November 23, 2017
    Mobility pricing offers new tools for managing mobility
    Mobility pricing is the best way of sustaining and enhancing mobility, argues Moving Forward Consulting’s Josef Czako. Mobility pricing (MP) is effectively the culmination of the ‘user pays’ principle and has been referred to in many policy discussions about electronic toll collection, road user charging (RUC), and pricing. MP not only reflects the ‘use more, pay more’ nature of RUC, it also takes account of the external cost of journeys including pollution, noise, the cost of congestion and accidents.
    Read More

Highlighted Content