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

  • December 16, 2021
    EV chargers coming to US corridors 
    Edison Electric Institute: 100,000+ charging ports needed to support 22 million EVs by 2030
    Read More
  • January 28, 2016
    Four UK cities awarded funding to drive green car revolution across
    Four cities have been awarded significant funds to promote green vehicle technology after successfully bidding for a share of a multi-million pot created to support the take-up of plug-in electric cars across the UK. Transport Secretary Patrick McLoughlin announced the winners of the Go Ultra Low City Scheme, after the successful cities proposed a number of initiatives to support greener vehicles as part of a government competition.
    Read More
  • October 22, 2018
    The long road to Spanish enlightenment
    Julián Núñez, immediate past president of ASECAP, gets his teeth into the vision of a European strategy for toll roads. David Arminas reports from Madrid. Getting European politicians to agree to a long-term cross-border highway infrastructure programme for toll roads is extremely difficult. It’s a bit like pulling teeth: people want to avoid the pain. But pain is something that Spanish operators, including Abertis, OHL, ACS, FCC and Acciona, have been going through for the past decade. The country has
    Read More
  • November 15, 2018
    Greenlots and Volvo Trucks to install EV chargers in California
    Technology company Greenlots has partnered with Volvo Trucks to implement an electric vehicle (EV) charging infrastructure for fleets operating out of warehouses in southern California. The project is part of a public-private partnership, in which the California Air Resources Board (CARB) awarded $44.8 million to the South Coast Air Quality Management District. The funded was used for Volvo’s Low Impact Green Heavy Transport Solutions (LIGHTS) project. As part of LIGHTS, Greenlots will equip warehouses
    Read More

Highlighted Content