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

  • February 3, 2012
    Pioneering new passenger information systems
    Chicago pioneers new passenger information initiatives. By David Crawford
    Read More
  • March 6, 2019
    Los Angeles drivers may face congestion charge following study
    After a century as the city of the automobile, Los Angeles is taking a major step on the road towards congestion charging. The Los Angeles County Metropolitan Transportation Authority (LAMetro) is to explore road pricing and is also thinking about levying fees on ride-share companies for their part in creating gridlock. The moves are part of LAMetro’s ‘Re-imagining of Los Angeles County: Mobility, Equity and the Environment’ plan, which seeks policies to make transport sustainable in the famously-cong
    Read More
  • May 9, 2013
    Eight out of eleven OEMs focusing on global mobility market
    According to Frost and Sullivan, eight out of eleven major global original equipment manufacturers (OEMs) are focusing on the global mobility market, investing in a range of key solutions including products like electric vehicles (EVs), micro-mobility, and services like car-sharing and leasing. New mobility strategies of key global OEMs are gathering pace and the future of mobility is already here. The report, Competitive Benchmarking and Comparative Analysis of the Mobility Strategies of Key Global OEMs, o
    Read More
  • August 8, 2018
    Mobilising data for the future of urban transport
    It's not just gathering the data that's important, says Johan Herrlin - it's making sure that transport organisations share it with one another that will determine travellers' satisfaction. Data is transforming the way we move around cities, from family car journeys to the daily train commute. Gone are the days when travelling from A to B meant remembering your AA map and having to ask for directions at regular intervals. If you were trying to navigate London as a tourist a mere decade ago, it required
    Read More

Highlighted Content