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

  • June 13, 2017
    Transport integration separates rural idyll from remote isolation
    David Crawford investigates the operation of Total Transport in some of Europe’s more rural areas. Total Transport is a concept that is gaining traction in Europe as a means of making it easier for people without access to a car and living in rural and remote communities, to travel to work, the shops, schools and hospitals. It involves maximising vehicle availability and integrating scheduled services with other transport services (including taxis) commissioned or contracted by more than one local governmen
    Read More
  • January 30, 2012
    Managed motorways, hard shoulder running aids safety, saves time
    The announcement that, in 2012/13, work to extend Managed Motorways to Junctions 5-8 of the M6 near Birmingham in the West Midlands is scheduled to start marks the next step for the UK's hard shoulder running concept, first introduced on the M42 in 2006. The M6 scheme is in fact one of several announced; over the next few years work will start on applying Managed Motorways to various sections of the M1, M25 London Orbital, M60 and M62. According to Paul Unwin, senior project manager with the Highways Agency
    Read More
  • July 20, 2017
    Government targets ‘too conservative’ as 1 in 5 plan to embrace electric cars
    Electric vehicle uptake may increase over the next few years to levels far above UK Government targets. In research undertaken by Baringa Partners, nearly a fifth of people said they would consider buying an electric vehicle for their next car, double the Government goal for electric cars to make up nine per cent of the fleet by 2020. However, concerns over purchase price and range mean nearly a third of people believe electric cars will never overtake petrol and diesel vehicles. Baringa is urging the Gover
    Read More
  • July 5, 2018
    SCE proposes $760m extension to Charge Ready project
    Southern California Edison (SCE) has filed a proposal with the California Public Utilities Commission for an additional 48,000 electric vehicle (EV) charging points. The $760m programme would extend the electricity provider’s Charge Ready initiative by four years. SCE says the initiative will provide the charging infrastructure to support California’s goal of having seven million electric cars on its highways by 2030 – a move intended to improve air quality and reduce greenhouse gas emissions. The com
    Read More

Highlighted Content