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, 2014
    Dynamic charging boosts electric vehicles’ potential
    With an increasing need to use electric vehicles in city centres to reduce pollution, David Crawford looks at various solutions to power delivery. The UN’s September 2014 Climate Summit has added fresh momentum to the drive to increase urban electric vehicle (EV) takeup. It has launched the Urban Electric Mobility Initiative, which wants to see EVs accounting for 30% of all urban travel by 2030, and make cities worldwide more friendly to their use. Encouragingly, the plan is being well supported by commerci
    Read More
  • January 16, 2023
    Oxbotica raises $140m for AV software
    Funding will be used to grow in North America and to pursue driverless passenger transport
    Read More
  • July 17, 2012
    Charging station infrastructure boost to electric vehicle use
    The first section of a planned network of stations for charging electric vehicles – the West Coast Electric Highway – opened in March, promising a welcome boost to the environment and economy of Oregon. Pete Goldin reports What should come first, the electric vehicle or the charging station? This dilemma has been hindering proliferation of ‘EVs’ in the US for years. Without a widespread and reliable infrastructure of charging stations, the American public is not likely to adopt EVs en masse. This may all b
    Read More
  • May 5, 2021
    McKinsey reveals the $bns spent on mobility
    Investors have poured nearly $330bn into more than 2,000 mobility firms since 2010
    Read More

Highlighted Content