Ohm Mobility, a firm that provides EV financing and leasing, is now closing its doors, joining a growing list of startup closures. Despite many turning points along the way, the five-year-old startup was unable to scale, according to cofounder and CEO Nikhil Nair.
Why Ohm Mobility Shut Down: Inside the Struggles of a Promising EV Fintech
In a LinkedIn post, Nair stated that although the company was unable to develop a sustainable and scalable strategy, it gained firsthand knowledge of what works, what doesn’t, and why. After failing at a few business models, the company now has a thorough understanding of them.
Nair created Ohm Mobility in 2020 to help EV fleet operators, manufacturers, and battery companies access finance by connecting them with banks and other financial institutions. In 2022, Nikhil Saigal, a former executive of Onfido, a provider of IT solutions, became the second cofounder and CBO of the firm.
Ohm Mobility’s Journey
The firm made it simpler for financial institutions to grant them loans by using data (IoT data) from EVs to comprehend and lower the financing risks. Notable investors include Antler India, Blume Ventures, and Catalyst Fund. A few angel investors helped Ohm Mobility raise about INR 5 Cr during its existence.
Ohm Mobility’s Pivot to Daily Earners: A Last Attempt at Survival
According to the cofounder’s statement regarding business pivots, Ohm Mobility recently changed its name to Ohm Daily in order to concentrate on offering financial products for daily earners, especially gig workers and professionals in the mobility industry (such as auto drivers).
Since its founding, Ohm Mobility has not submitted its financial statements to MCA for any fiscal year. It’s noteworthy that this is not the only modern IT company to close this year. A lacklustre response from the market led media houses to report in June that Altigreen, a three-wheeler EV manufacturer, was on the verge of closing its doors owing to a lack of finance.
In addition, BluSmart and Log9 also had turbulent declines in recent months. Due to their inability to scale and lack of investor interest, two early-stage firms, rapid commerce venture Blip and AI startup subtl.ai, have both recently ceased operations.
Wider Pattern: Are Indian EV Startups Running Out of Charge?
The auto industry in India is confronted with a transitional challenge: how to construct the future without halting the present. The majority of established manufacturers still operate ICE and EV programs concurrently, frequently sharing resources for engineering, validation, and procurement. It is now anticipated that these overlapping structures, which were intended for gradual development, will bring about revolutionary upheaval.
An extremely disjointed execution chain is the end outcome. According to Vector’s research, more than 60% of Tier-1s are involved in over ten programs at the same time, spanning several OEMs, with no insight into volume projections or design maturity.
This article has been contributed by Sravan Kumar Appana, Co-founder & Chief Executive Officer of iGowise Mobility.
The electric vehicle industry has made tremendous progress in the past 4 years in India, especially in the affordable 2-wheeler segment built for the middle class. During the same time, the e-commerce sector also made notable advancements in India and is currently growing at a rapid pace. According to publicly available data, the e-commerce industry will be responsible for 3.5% of India’s GDP by 2030.
In today’s time, each quick commerce company is looking for ways to surpass its competitors, whether in terms of quality, speed, or other evolving demands of modern consumers. Major quick commerce players have shifted their focus from traditional ICE vehicles to advanced and innovative electric vehicles to overcome these challenges. Data shared by Stand.earth suggests that 50% of total carbon emissions are produced by last-mile deliveries.
Given the push towards e-mobility and sustainability, players like Zepto and Zomato are transitioning towards EV solutions to mitigate the environmental issue. In fact, the recent EV100 Annual Disclosure Report shows that Zomato and Flipkart took the top spots among global businesses that have shifted to electric fleets as their mode of delivering goods. In this regard, let’s discuss how EVs are changing the e-commerce delivery landscape one step at a time.
Shifting from TCO to TPO
In the early stage of EV production, the product was popular due to its lower Total Cost of Ownership (TCO) compared to traditional vehicles. However, now businesses have started focusing on solutions that impact the environment and their pocket in positive ways. As a result, industries are focusing on Total Profit Ownership (TPO), which includes a broader market perspective, including delivery speed, comfortability of the rider, and reduced upfront cost.
To achieve this goal and help e-commerce businesses, the Indian government launched various initiatives such as the FAME-II scheme and PM E-Drive scheme. Such schemes aimed at reducing the additional upfront cost of the vehicle through subsidies and financial support.
In India, around 14 cities are considered to be the most polluted ones, and transportation happens to be a key reason for this. Data shows that Indian transportation accounts for nearly 13.5% of the nation’s carbon emissions, majorly from vehicles running on roads.
However, the wide adoption of EVs can mitigate this problem and curb the issue of navigating densely populated regions. To achieve this, the government is targeting to increase EV penetration by 2030. The latest data shows that in FY23, sales of EVs increased by 50% compared to the previous year, highlighting the increasing shift towards sustainable mobility.
Balancing Cost Efficiency and Rider Comfort
To make the busy lifestyle of urban people easier, e-commerce has updated new features like quick 10-minute delivery. This new feature has transformed the consumer’s experience to another level. For instance, platforms like Blinkit, Bigbasket, and Swiggy Instamart prioritize speed and convenience with the best quality, making it important for logistic levels to transform.
Today, India is the most populated country in the world, and due to the compact size and agility of light EVs, they are quickly emerging as the best logistics solution for the e-commerce sector. Data suggests that due to peak traffic in major cities like Delhi, Bengaluru, Kolkata, and Mumbai, the nation’s economy loses INR 1.47 lakh crore annually. However, integrating LEVs into businesses, particularly last-mile delivery services and logistics, will not only improve their model but also reduce the operation timeline, building customer trust.
Another challenge that riders often face is discomfort while riding bikes or scooters the whole day. Riding long hours could become comfortable if the vehicle is designed to prioritize comfort and agility. Modern light EVs are built for compactness, and narrow tilting trikes, in particular, boast of effective designs that can move effortlessly in congested areas. These user-centric designs make them ideal for quick pickup and last-mile deliveries.
In the last-mile delivery business model, women are putting their best foot forward to tap into the economic and livelihood benefits it could bring them. To make their participation more convenient, they are seeking EVs with comfortable design and efficient performance. In addition, many EV manufacturers in association with e-commerce companies are offering women users EV alternatives like LEVs.
In a progressive world, we can see women capturing all sectors with their talent and knowledge; whether it is a startup or owning a saloon, they are giving their best in showcasing their talent. However, in the delivery sector, they still have to rely upon their father or brother and to mitigate this issue, manufacturers have started innovating LEVs that offer the best stability and agility for carrying goods, reducing the risk of disbalance.
The convenient design and performance of the vehicles are in turn promoting women’s participation in the e-commerce logistics workforce. Road safety is another issue of concern for delivery executives. According to the reports of the Ministry of Road Transport and Highways, in 2022, 168,491 lives were claimed in road accidents. However, by incorporating innovative technologies like anti-topple stability, advanced battery management, skid-resistant brake systems, and ADAS and cruise control systems, EVs can bring about a change.
For instance, the world’s first twin-wheeler trike technology is inspired by the principles used in bullet train stabilization systems but adapted for road vehicles to enhance safety. This technology will reduce the risk of accidents during sharp turns or even on uneven turns, making them more convenient for riders, especially women riders.
How EV Logistics is Matching Sustainability Goals
India’s push for sustainability goals in logistics aligns with achieving net zero carbon emissions by 2070. To achieve this goal, the government has started working on models, including the low-carbon development of electricity systems.
In addition, it is putting efforts into promoting the wide adoption of urban designing and smart technology, the development of integrated and innovative transportation, the development of low-emission industrial systems, the development of carbon dioxide removal, and solving the financial needs of low-carbon developments. The government has also launched various schemes in all these sectors to achieve this goal and
According to reports, it is projected that EV sales can surge up to 35% by 2030. Reports also state that shifting toward EVs by 2050 could save India 70 million tonnes of oil, reducing the nation’s carbon emissions.
In these ways, EVs are changing the e-commerce delivery segment and encouraging a shift to a sustainable future. As India moves towards sustainable development, wide adoption of EVs will largely benefit the e-commerce sector, improving the overall GDP of the country.
Tarun Mehta is the face of innovation, sustainability, and India’s mobility future. He is the co-founder of Ather Energy, a company that is changing the EV narrative in a country that balances tradition with modernity.
Tarun was born in a Marwari family that believed in discipline and aim in Ahmedabad, Gujarat. Tarun’s story proves the power of vision resilience and leaves a lasting impression. Great ideas, when combined with hard work and grit, can transform this world.
We will explore the life of this visionary entrepreneur. Moreover, we will read about his early life, career milestones, education, controversies, and how he overcame challenges to help drive the EV revolution in India.
Tarun Mehta was born in Ahmedabad, Gujarat, on October 31, 1989, to a traditional Marwari family that advocated discipline, culture, and ambition. Tarun was a naturally curious creature and a man who was determined in all his work from an early age. His formative years in Ahmedabad were critical.
During his school years, Tarun was a sharp intellect and a relentless seeker of knowledge. His academic performance and ability to tackle challenges with determination and focus were always consistent.
After finishing his primary education, he took up the challenge of cracking the IIT-JEE with an open heart and prepared himself so that no stone was left unturned. With sheer hard work and laser-sharp focus, he overcame every obstacle.
His efforts paid off. He excelled at the IIT-JEE and secured a seat for himself at IIT Madras. Tarun opted for Mechanical Engineering there, attracted by innovations.
His interest in entrepreneurship began quite early. He was part of the Entrepreneurship Cell at IIT Madras during his second year and learned how to build and run businesses. This experience polished his skills and connected him with like-minded individuals.
That was when Tarun met Swapnil Jain, another engineering branch mate. The two loved problem-solving and sustainable technology, so they’d talk about starting something of their own. Moved by the same vision, they wanted to implement their ideas and create a startup to tackle the burning issues in sustainability and mobility.
The pair started to think of ideas and eventually hit upon Ather Energy, which means the Greek word ‘Ather’, which means pure. This name stood for their dedication to building clean and efficient technologies. Their first target was to develop cleaner engines, but as they got into the business of electric vehicles, that would become their life’s work.
Tarun’s professional journey began during his college years with internships that provided him with valuable industry insights:
National Institute of Design (NID), Ahmedabad (2009): Tarun researched the concept of open innovation and how companies use collaborative strategies to drive market innovation.
2010, Mercedes-Benz Research and Development, India: He worked on engine weight reduction for diesel engines in passenger cars, which led to insights into engine manufacturing and optimization.
Bharat Heavy Electricals Limited (BHEL, 2011): He designed, prototyped, and tested equipment for coal ash testing at BHEL and proved he could translate theoretical knowledge into real-world solutions.
Tarun did his degree and joined Ashok Leyland as Deputy Manager in 2012. He worked on campus, within the sprawling Chennai campus. Even with limited resources and slow onboarding processes—he didn’t have a dedicated computer for the first few months—this phase gave him a chance to contemplate his career aspirations.
Founding Ather Energy
When Tarun returned to IIT Madras, he and his college friend Swapnil Jain started looking for opportunities in electric mobility. The duo realized that electric vehicles (EVs) could change the game of the automotive industry, so they founded Ather Energy in 2013.
They started in an empty hostel room, with much work to improve battery packs and reimagine EV technology.
Launching an EV startup in India was not as easy as it seems. Tarun faced numerous challenges:
Talent Acquisition: Individuals with expertise in electric vehicles and new product development were particularly hard to find.
Technology Investment: A persistent hurdle was convincing investors to support significant upfront investments in technology.
But Tarun and his team were determined to create a fully indigenous product. So, they designed India’s first intelligent electric scooters, the Ather 450X and 450, with their advanced technology, exceptional design, and user-friendly features.
Ather’s philosophy was driven by Tarun’s belief that “electricity doesn’t mean some new invention; it’s a better product.” He even foresaw that electricity would eventually dethrone petrol, outclassing it in performance and the environment.
Hero MotoCorp: This partnership gave us great insights about the rigorous product testing and helped Ather get focused on customer experience.
Sachin Bansal: The advice of the Flipkart co-founder to prioritize customer love over cost reduction shaped Ather’s product development.
Scaling Ather Energy: Ather Energy, led by Tarun, has raised over $170 million and reached an $800 million valuation by 2023. Revenue was reported at INR 2,000 crore ($300 million) early in 2023, and the company hopes to reach $1 billion by year-end.
Advocacy for EV Ecosystems
Tarun Mehta believes that the adoption of EV technology will be successful only if an ecosystem for electric vehicles (EVs) is built comprehensively and sustainably. His advocacy extends across multiple facets of the EV ecosystem:
Developing Robust Charging Infrastructure
Tarun has emphasized the need for an accessible and widely spread charging station network. Ather Energy was the first to introduce Ather Grid, India’s first network of bright charging points for Ather scooters and other electric vehicles. These charging points are strategically placed in cities, so EV charging is as convenient as petrol vehicle refueling.
In a world where charging stations are just as common as fuel stations, Tarun sees a future of long-distance travel and reduced range anxiety among EV users.
Collaborating with Suppliers and Stakeholders
Tarun has been very active with suppliers and manufacturers to ensure that a localized supply chain is set up to ensure seamless operations and high-quality products. This would involve sourcing all Indian-made parts like batteries, motors, and controllers to decrease import dependency and manufacturing costs.
He works with stakeholders such as policymakers and industry leaders to create a space for fast-paced innovation in EVs.
Promoting Policies Encouraging EV Adoption
Tarun supports government policies that make EVs more attractive to consumers. His focus areas include:
Subsidies and Incentives: Tarun has said that EVs need financial incentives, such as tax breaks and subsidies, to be competitive.
Regulatory Support: He has also demanded stricter emission norms and fuel efficiency standards to motivate automakers to adopt cleaner technologies.
Battery Recycling and Disposal Policies: Tarun is actively developing practices to reduce the negative environmental impact of recycling and disposing of waste batteries from used EVs.
Tarun Mehta – Ather
Tarun Mehta’s career is a story of perseverance, innovation, and sustainability. From a hostel room in his early days to revolutionizing India’s EV landscape, his story is a testament to his vision, hard work, and relentless focus on delivering value to customers. Through Ather Energy, he continues to inspire a new generation of entrepreneurs and build a greener, more connected future.
Tarun Mehta and Swapnil Jain co-founded Ather Energy in 2013, and in a short time, it emerged as an EV market pioneer in India. IIT Madras alumnus Mehta embodies patience and precision, perfectly exemplifying how Ather has journeyed. He oversaw the company, spending five years developing its first electric scooter from the ground up, ensuring it was up to the highest standards before rolling onto the streets. Mehta’s keenness on the premium market means Ather also focuses on it.
Ather’s ethos is deep R&D; its scooters result from a decade of research into battery technology and design. The Ather 450 series, including the 450X and 450 Plus, showcases cutting-edge features, lightweight aluminum structures, and long-lasting batteries. Ather batteries are proudly durable, retaining 85-90% capacity even after years of use, cementing Ather’s reputation as the safest and most reliable EV on the market.
For Tarun Mehta, competition is a growth catalyst, and he is open to leading legacy players such as Hero and Bajaj into the EV space. “The more we have in the EV space, the more options we have for the consumer and us manufacturers,” he says. Mehta believes the industry’s united effort is the first step in speeding up the shift from internal combustion engines to electric vehicles and creating a better environment for consumers to become aware of and trust electric cars.
Ather Financials
Ather Energy made a revenue of INR 1,789 crore in the financial year 2024, which is about the same as the previous year. However, the company’s losses increased by over 22%, reaching INR 1,059 crore during this time.
Ather embodies India’s Aatmanirbhar Bharat vision. The company differentiates itself from the pack by designing and building its scooters domestically and with pioneering touchscreen dashboards, even before smartphones were made in India. With over 10,000 employees, the company has filed 60 to 70 patents. It is leading the EV industry in R&D. Mehta’s focus is now on manufacturing lithium-ion cells, using government incentives to reduce dependence on imports and build self-reliance.
Under Mehta’s guidance, Ather has scaled its monthly production to 35,000 units, consistently attempting to hit 30,000 units. Its Hosur plant, near Bangalore, is the backbone of its operations, and the company is already planning its next manufacturing facility. Mehta says profitability is a few years away. Still, he is confident Ather can reach $1 billion in revenues this year, putting the company on track to become a global EV leader.
Ather has changed the game on EV charging with its fast charging network, Ather Grid, which has more than 1,000 points across 80+ cities in India. Thanks to forward and backward compatibility, Mehta’s decision to offer chargers as optional accessories means that customers upgrading to newer models will enjoy a seamless and cost-effective experience.
The Ather philosophy is all about quality and innovation. The company improves user experience by adding features like Ather Stack 5.0 to its robust aluminum scooter frames. Mehta’s philosophy of remaining faithful to Ather’s vision, guided by early input from investor Sachin Bansal, means the brand can withstand the rapid change in the industry.
Tarun Mehta, now 35, has already etched his name in India’s EV landscape. Under his leadership, Ather Energy has become a symbol of innovation, self-reliance, and sustainability. Mehta’s visionary leadership is set to reframe the future of electric mobility for Ather Energy, which has ambitious plans for scaling production, upgrading technology, and entering the global market.
In August 2024, Ather Energy was criticized online for sharing pictures of its office’s Onam celebration. The images also showed employees feasting on an Onam Sadhya meal and co-founders Tarun Mehta and Swapnil Jain in traditional Kerala attire. However, including chapatti, a non-traditional Sadhya item, received widespread backlash online.
One of Kerala’s most significant cultural festivals, the Sadhya, traditionally served on banana leaves, is one of the most important parts of Onam. However, the addition of chapatti, a northern Indian staple, was a cultural faux pas that was criticized on social media platforms. Users were disappointed with the inconsistency in honoring Kerala’s traditions.
The incident turned controversial, though. Ather’s CEO, Tarun Mehta, posted the photos to show the company’s festive spirit. Later, Ather released a statement admitting the mistake and explaining that they didn’t want to mark Onam in a way that would hurt people.
Customer Service Complaints
Like many growing companies, Ather Energy has faced occasional criticism of its customer service. Social media has been filled with issues ranging from scooter delivery delays to worries about after-sales support. Some customers have complained that the service centers have been slow in resolving technical problems, resulting in frustration.
Ather has made quite some efforts to improve customer service by bringing in online responsive support channels and service camps; however, these incidents indicate the scale of operations and their service standards.
Tarun Mehta – Awards and Recognition
Listed on the Forbes 30 under 30 in 2018
He is also listed on the Fortune 40 under 40 list in 2017 & 2019 for the innovative product.
Received Jagdish Khattar Rising Star Award in 2023
AIMA India dedicated the Young Entrepreneur Award in 2023 to Tarun Mehta
He received the IBT CEO Awards 2024, which was recognized for his leadership at Ather.
Electric Two Wheeler of the Year Award from Zee News was received by Tarun Mehta in 2021 for Ather 450X.
FAQs
Who is Tarun Mehta?
Tarun Mehta is the co-founder and CEO of Ather Energy.
What is Tarun Mehta education?
Tarun Mehta completed his Bachelor’s and Master’s in Engineering Design from the Indian Institute of Technology (IIT) Madras. His education laid the foundation for his innovative work in the electric vehicle industry.
What is Tarun Mehta age?
Tarun Mehta is 35 years old. He was born on 31 October 1989.
Ola Electric, India’s largest mobility platform and one of the top ride-hailing companies globally, is leveraging its strong foundation in urban mobility to champion sustainable transportation. In this StartupTalky article, we will explore the journey of Ola Electric from its inception to how it became a key player in India’s EV revolution and growing innovation with the creation of the Future Factory, the world’s largest and most sustainable two-wheeler manufacturing facility.
The below article portrays Ola Electric’s success story, its history, growth, funding, business model, hardships, challenges, competitors, and more.
Ola Electric is driving India’s emergence as the global hub for the electric vehicle (EV) revolution. As a pioneering EV company, they are working towards a brighter, safer, and greener future by building an ecosystem of products, services, and cutting-edge technology that will shape the next frontier of innovation. Their focus is deeply rooted in research and development, with expertise in design, engineering, and manufacturing that is dedicated to creating high-quality and accessible EVs.
From concept to production, Ola Electric is committed to owning and developing all core EV technologies and components. This includes everything from battery cells to electric vehicles, making them central to the future of sustainable transportation.
Ola Electric’s R&D efforts extend beyond India, with facilities in the UK and the US, including their Battery Innovation Centre, where they are developing cutting-edge cell and battery technologies that will lead the industry into the future.
Ola Electric – Industry
India is setting an ambitious goal to boost the share of electric vehicle (EV) sales by 2030, targeting 30% for private cars, 70% for commercial vehicles, 40% for buses, and a massive 80% for two-wheelers and three-wheelers. This translates into a bold objective of having 80 million EVs on the roads by the end of the decade, all driven by a push for complete domestic production under the ‘Make in India’ initiative.
Globally, the electric vehicle market was valued at $255.54 billion in 2023 and is expected to skyrocket to approximately $2,108.80 billion by 2033, growing at a strong compound annual growth rate (CAGR) of 23.42% from 2024 to 2033.
India Electric Vehicle Market Size, 2022 to 2032
In India, EV sales have been on the rise. By May 2024, EV sales surged by 20.88%, reaching 1.39 million units. In 2023, EV sales in India saw an even bigger leap, growing by 49.25% to 1.52 million units. Though still in its early stages, the Indian EV market is gaining significant momentum. According to Fortune Business Insights, the Indian EV market is projected to expand from $3.21 billion in 2022 to a whopping $113.99 billion by 2029, growing at a rapid CAGR of 66.52%.
This global shift toward EVs is creating exciting new opportunities for automotive suppliers, particularly in the Indian EV battery market, which is forecasted to grow from $6.77 billion in 2023 to $27.70 billion by 2028. This highlights the massive potential of India’s EV sector as it continues to evolve and expand.
Ola Electric – Founders and Team
Bhavish Aggarwal is the Co-founder and CEO of Ola Electric.
Bhavish Aggarwal – Co-founder and CEO, Ola Electric
Bhavish Aggarwal, born on August 28, 1985, is a prominent Indian entrepreneur known for his remarkable contributions to the tech and mobility sectors. Aggarwal hails from Ludhiana, Punjab, where he was born and raised. He completed his bachelor’s degree in computer engineering from the Indian Institute of Technology, Bombay, in 2008. Early in his career, he worked with Microsoft Research India as a research intern, later becoming an assistant researcher. However, it wasn’t long before he ventured into entrepreneurship. During his time at Microsoft, he filed two patents and published three papers in international journals, demonstrating his strong technical expertise.
In 2010, he co-founded his first major company, Ola Consumers (ANI Technologies Pvt.), which quickly emerged as a strong competitor to Uber in India. What started as a ride-hailing app soon expanded into other sectors, including online payments and food delivery, establishing Ola as a versatile and powerful player in India’s tech ecosystem.
Aggarwal also founded Ola Electric, a venture dedicated to revolutionizing the electric vehicle industry in India. Most recently, he launched OlaKrutrim, a groundbreaking artificial intelligence (AI) company, which became India’s first AI unicorn in 2024, reaching a valuation of $1 billion.
Recognized globally for his influence, Aggarwal was named in Time magazine’s list of the 100 Most Influential People in 2018. With a net worth of $2.3 billion, he stands as one of the youngest self-made billionaires in the world.
Bhavish Aggarwal’s journey from tech researcher to founder of multiple successful ventures showcases his vision for the future of technology and mobility, both in India and on the global stage.
Ola initially started as Olatrip.com, a small website venture offering weekend trip packages. Founded by two IIT Mumbai graduates, Bhavish Aggarwal, and Ankit Bhati, it began as a startup aimed at selling online tour packages. After working at Microsoft for nearly two years, Bhavish shifted his focus to entrepreneurship. However, a frustrating experience with a car rental service led Aggarwal to encounter a significant gap in the transportation industry, which drove him to innovate and disrupt the market. Henceforth, the duo began to rethink the car rental system entirely, sparking the creation of Ola Consumers (formerly Ola Cabs). What began as a solution to improve car rentals soon transformed into a ride-hailing giant, now simply known as Ola.
As the company grew, it expanded beyond ride-hailing, eventually venturing into the electric vehicle space.
In a press conference in Mumbai in late July, Bhavish reflected on the EV journey, saying, “Three years ago, when we launched our product, I believe that’s when the EV story began.”
These words encapsulate the meteoric rise of Ola Electric, which quickly became a key player in India’s electric vehicle revolution. At a time when India’s green infrastructure was still developing, Bhavish’s ambitious vision to create the world’s leading “urban mobility EV company” drove Ola Electric’s rapid growth. His bold vision, coupled with Ola Electric’s innovative strides, has placed both the company and Aggarwal at the forefront of India’s EV transformation, powering the country’s shift toward a sustainable, electric-powered future.
Ola Electric – Mission and Vision
Ola Electric’s mission is to significantly reduce emissions and lower fuel dependency by transitioning Ola’s cabs and other vehicles to electric, promoting mass electric mobility for a cleaner and greener future.
While Ola Electric envisions:
Bringing together brilliant young minds to drive innovation
Shaping the future of electric vehicles on a global scale
Excelling in technology and engineering
Creating industry-leading products that set new benchmarks for electric mobility
Ola Electric – Name, Tagline and Logo
Ola Electric Logo
Ola’s tagline “All-electric Future. From India. For the world.”, perfectly captures the company’s mission of leading the electric vehicle revolution from India with a global perspective.
The word “Ola”, symbolizes the ease and friendliness that the company aims to bring to its customers. Ola strives to make hailing a cab and using their services effortless and user-friendly. This reflects their commitment to providing seamless, customer-centric experiences while driving the future of electric mobility.
Ola Electric – Business Model
Ola Electric’s business model operates on three core platforms:
R&D and Technology: Ola Electric takes charge of designing and developing its own electric vehicle (EV) technologies and components. This includes key areas like software, electronics, motors, batteries, and advanced manufacturing techniques. Their focus on in-house innovation allows them to maintain control over the quality and functionality of their products.
Manufacturing and Supply Chain: Ola Electric boasts a flexible assembly line, supported by a shared supply chain and a vertically integrated manufacturing ecosystem. This integration streamlines their production process, ensuring efficiency and scalability, from the components to the final product.
D2C Omni-Channel Distribution: Ola Electric embraces a direct-to-consumer (D2C) approach for selling and servicing its EVs. This includes an online shopping platform, a robust charging network, and company-owned sales and service centers. By handling distribution and services directly, Ola Electric ensures a seamless and consistent customer experience.
Ola Electric generates revenue from the following streams:
Selling Scooters: The main revenue driver for Ola Electric is the sale of its electric scooters, including popular models like the S1 Pro, S1 Airand S1 X+.
Selling Accessories: Ola Electric also generates income through the sale of accessories such as spare parts, chargers, and other related products that complement its EV offerings.
Services: Ola Electric provides a range of services, including maintenance, after-sales support, and other customer services to ensure the long-term satisfaction of its users.
Ola Electric – Challenges Faced
Ola Electric, the electric vehicle (EV) company headquartered in Bengaluru, has experienced several operational challenges that have impacted its business. Here’s a closer look at these issues:
Ola Electric Layoff
On November 21, 2024, a source revealed that Ola Electric plans to lay off about 500 employees as part of a restructuring effort to improve the company’s profits.
This comes a few months after its sister company, Ola Consumer (formerly Ola Cabs), also underwent restructuring in April, affecting 10% of its staff. During that time, CEO Hemant Bakshi stepped down after less than a year, and CFO Karthik Gupta also left, impacting around 200 employees.
Service Issues
Enhancing Customer Trust Amid Increased Complaints: With rising complaints about software glitches and hardware issues, Ola Electric faces the challenge of restoring customer confidence. The Hyperservice campaign and quick-service guarantee are aimed at improving service reliability and customer experience. Aggarwal’s commitment to doubling service centers to 1,000 by December presents a logistical challenge. Expanding infrastructure while ensuring consistent service quality will require efficient resource management, staffing, and training. Introducing a one-day quick-service guarantee, with backup Ola S1 scooters for delays, requires robust operations management. Ola Electric must ensure availability and streamlined service processes to meet this promise consistently.
Minimizing Impact of Service Challenges on Sales: The decline in sales, linked to unresolved service issues, places pressure on Ola Electric to stabilize sales by improving its service reputation. The effectiveness of the Hyperservice campaign and prompt delivery of promises will be critical in reversing this trend. Offering cab coupons through Ola Care+ adds value for customers, but ensuring adequate customer retention and satisfaction may require further enhancements to Ola Care+ plans and personalized support.
Market Share Decline
Ola Electric’s market dominance has seen a downturn, with its market share dropping from 40.4% to 32.4% in recent months. This dip indicates increased competition and possibly waning customer confidence in the company’s products or services.
Market Competition
Ola Electric, once dominating India’s electric scooter market, saw a significant drop in sales in September, marking its lowest monthly sales figure at 23,965 units. This decline led to a market share dip of 27%, a sharp fall from its commanding 50% share in April. As Ola Electric’s sales slumped, competitors like TVS Motor and Bajaj Auto capitalized, gaining ground with the introduction of newer models and stronger service networks.
This shift suggests increasing competition and growing consumer expectations for product quality and after-sales service, areas where Ola may need to focus to regain its footing in the market. The decline also raises questions about its long-term dominance, as rivals continue to innovate and expand.
Technological Advancements
Ola Electric, once a fierce competitor to Uber in the ridesharing market, has now shifted its strategy towards tackling a new giant—Tesla. As Tesla eyes the Indian EV market, Ola Electric is aggressively aiming to undercut Tesla by offering more affordable electric vehicles.
Their contribution to India’s mobility landscape is primarily through two-wheeled mopeds, which have made Ola Electric the country’s largest manufacturer of electric scooters. Expanding beyond scooters, the company has intensified its focus on electrification. It is actively developing its lithium-ion battery technology and building Asia’s largest battery R&D facility. This cutting-edge center will drive Ola’s ambitions to lead the EV revolution in India by advancing battery tech and maintaining a competitive edge in the global market.
By investing heavily in these areas, Ola Electric is positioning itself to dominate India’s EV market and compete internationally, with innovations that could reshape the future of electric mobility.
Ola Electric – Funding and Investors
Ola Electric has raised a total of $1.7B in funding over 15 rounds. Ola Electric has been making headlines with a series of substantial investments:
Date
Name
Investors
Money Raised
June 11, 2024
Debt Financing
Alteria Capital
INR 1 billion
April 1, 2024
Debt Financing
EvolutionX Debt Capital
INR 4.1 billion
Oct 26, 2023
Debt Financing
SBI
$240 million
Oct 7, 2023
Series E
—
INR 11.9 billion
Sept 7, 2023
Private Equity Round
Tamasek Holdings
$140 million
May 22, 2023
Private Equity Round
—
INR 25 billion
Jan 24, 2022
Series D
—
INR 15 billion
Dec 8, 2021
Series C
Tamasek Holdings
$53 million
Sept 30,2021
Series C
Alpha Wave Global, Softbank
$200 million
July 12, 2021
Debt Financing
Bank of Baroda
INR 7.4 billion
March 12,2020
Series B
Pawan Munjal family Trust
$1.0 million
July 02, 2019
Series B
Pawan Munjal family Trust,Softbank, Hyundai Motor Company,Kia
$267.0 million
May 06, 2019
Series A
RNT AssociatesAngel Investor: Ratan N. Tata, Gaurav Deepak
$2.1 million
Feb 26, 2019
Series A
Tiger Global Management, RNT Associates, Sarin Family Trust, India Internet Fund, Z47.Angel Investor: Gaurav Deepak
$57.0 million
Ola Electric – Investments
Ola Electric has invested in StoreDot, details of which are as below:
Name
Total Equity
Current Stage
StoreDot
$226 million
Series D
Ola Electric – Mergers and Acquisitions
Ola Electric made a single acquisition in 2020.
Acquisition
Date
Price
Etergo
May 27, 2020
$23.1 million
Ola Electric – Growth
Ola Electric has experienced significant growth in revenue, deliveries, and market share in the Indian electric vehicle market, specifically in two-wheeled EVs:
Revenue Growth: In Q1 2024, Ola Electric’s revenue rose by 32.3%, reaching INR 1,644 crore, up from INR 1,243 crore in Q1 2023.
Deliveries: The company delivered over 1.2 lakh electric scooters in Q1 2024, a substantial increase from 70,575 units in the same period the previous year.
Market Share: As of September 2023, Ola Electric captured approximately 47% of India’s two-wheeler EV market, marking it as a dominant player.
IPO Success: Ola Electric’s listing on the National Stock Exchange (NSE) on August 9, 2024, resulted in a stock surge to ₹126.21 by August 23, a 66% increase.
Ola Electric Financials
FY23
FY24
Operating Revenue
INR 2631 crore
INR 5010 crore
Total Expenses
INR 3883 crore
INR 6277 crore
Cost of Material Consumed
INR 2505 crore
INR 4391 crore
Employee Benefit Expenses
INR 427 crore
INR 439 crore
Total Loss
INR -1472 crore
INR -1584 crore
Ola Electric Financials
Ola Electric’s revenue grew by 90% from FY23 to FY24, going from INR 2631 crore to INR 5010 crore. However, its total expenses also went up by about 62%, from INR 3883 crore to INR 6277 crore. The cost of materials increased by 75%, and employee expenses rose slightly by 3%. Despite the revenue growth, the company’s losses grew by 8%, from INR 1472 crore in FY23 to INR 1584 crore in FY24.
Looking ahead, Ola Electric anticipates that electric two-wheeler adoption will reach 41-56% by FY28. Its vertically integrated model spans R&D, technology development, manufacturing, sales, service, and charging infrastructure, with plans to incorporate its cell technology by Q1 FY26.
While Ola Electric achieved strong operational growth, challenges persist. Its net loss widened 8% in 2024. Nevertheless, Goldman Sachs forecasts that Ola Electric’s revenue will expand at 2.5 times the rate of its peers, with volume growth expected to outpace competitors fivefold over the next three years, setting the stage for potential EBITDA breakeven soon.
Ola Electric – Advertisements and Social Media Campaigns
Ola’s marketing strategy has strategically leveraged its brand recognition and environmental messaging to boost its presence in the electric vehicle market. Here’s an overview of Ola’s promotional approach and targeted advertising efforts:
Eco-Friendly Brand Messaging: Ola Electric has centered its marketing around the eco-conscious benefits of electric scooters, emphasizing reduced emissions and cost-effectiveness. This approach appeals to the growing environmental awareness among consumers, especially younger audiences who value sustainable choices.
Targeted Advertising Campaigns: To reach potential customers, Ola Electric has launched focused ad campaigns that highlight the financial and ecological advantages of EVs. By showcasing lower operating costs, emission reductions, and ease of use, the campaigns effectively communicate the benefits of transitioning to electric scooters.
Influencer and Celebrity Partnerships: Collaborations with influencers and celebrities have helped Ola amplify its brand message and reach a wider audience. These endorsements, targeted at a youth-centric market, enhance the brand’s appeal and establish a relatable connection with potential customers.
Youth-Centric Advertising Campaigns: Ola’s 2017 campaign, which targeted young, ethically-minded consumers, emphasized the importance of tackling urban challenges like traffic congestion and pollution. This campaign resonated with socially aware young people who are interested in creating positive change in their communities.
World Environment Day Campaign #FarakPadtaHai: Launched on June 5, 2017, this campaign encouraged nationwide awareness of ride-sharing as a means of reducing pollution and traffic. Through a TV commercial and other offline activities, Ola fostered a sense of responsibility towards the environment, further solidifying its eco-friendly brand positioning.
The Shared Pass Initiative: Ola introduced a shared pass at an affordable rate of ₹1 to promote shared travel, overcoming initial reluctance among users about ride-sharing with strangers. This campaign successfully increased shared ridership, reflecting Ola’s ability to engage users and drive the adoption of shared transportation solutions.
Ola Electric’s achievements and recognition reflect its innovation and leadership in the electric vehicle industry.
IHS Markit Innovation Award (CES): Ola Electric received this award at CES for its groundbreaking design, performance, and smart features, setting new standards for electric scooters in India and globally.
German Design Award: Ola Electric was recognized for the sleek and innovative design of its scooters, reinforcing its appeal in both aesthetics and functionality.
Advanced Chemistry Cell (ACC) Battery Storage Capacity Allocation: Awarded in March 2022 under India’s Production Linked Incentive (PLI) scheme, Ola Electric received a 20GWh capacity allocation for ACC battery storage, entitling it to five years of incentives to advance EV battery development.
Electric Scooter of the Year – Car&Bike Awards 2023: The Ola S1 scooter won this category, prevailing over competitors like the TVS iQube S, Vida V1 Pro, and Okinawa Okhi-90 for its excellence in performance and design.
PLI-Automotive Certificate from ICAT: In March 2024, the International Centre for Automotive Technology (ICAT) awarded Ola Electric the PLI-Automotive Certificate, recognizing its pioneering contributions to electric mobility under the PLI scheme.
WomenIN Leadership Award at UK-India Awards 2024: Ola Electric was honored at the UK-India Awards for its commitment to diversity and leadership in the EV sector, emphasizing its role in promoting inclusivity within the industry.
These awards highlight Ola Electric’s dedication to innovation, design excellence, and sustainable mobility, positioning the company as a leader in the electric vehicle industry.
Ola Electric – Competitors
Ola Electric faces competition from several prominent players in India’s rapidly growing electric vehicle (EV) sector, particularly in the two-wheeler segment:
Ola Electric has positioned itself at the forefront of India’s electric vehicle (EV) transformation, with ambitions that extend beyond two-wheelers to broader electrification and energy independence. By leveraging new funding and strategic partnerships, Ola is scaling its operations and product lineup:
Recent Funding and Expansion
October 2023 Funding: Ola Electric secured INR 3,200 crores (~USD 385 million) from investors like Temasek and project debt from the State Bank of India. These funds will drive expansion into new product lines and support the setup of India’s first lithium-ion cell manufacturing facility in Krishnagiri, Tamil Nadu.
Gigafactory and Lithium-Ion Cell Manufacturing: As the first Indian EV company selected for the government’s Advanced Chemistry Cell (ACC) Production-Linked Incentive (PLI) scheme, Ola is building a pioneering lithium-ion battery cell manufacturing unit, with an eventual target capacity of 100 GWh, significantly boosting India’s local EV supply chain.
Product Portfolio Expansion
Scooter Range: Ola’s recent Gen-2 platform has allowed for an expanded lineup of electric scooters, including the S1 Pro, S1 Air, S1X+, S1X (3kWh)and S1X (2kWh), covering a broad range of price points from INR 89,999 to INR 1,47,499. This lineup enhances accessibility for various consumer segments.
Upcoming Electric Motorcycles: Ola has announced four models—Diamondhead, Adventure, Roadster, and Cruiser—designed to meet different consumer preferences and expected to launch by the end of 2024. These motorcycles reflect Ola’s commitment to style and advanced engineering in the EV segment.
Vision for India’s EV Ecosystem
Ola Electric aims to lead India toward energy self-sufficiency by strengthening domestic manufacturing of critical EV components and creating a robust battery supply chain. Through its diversified portfolio and pioneering facilities, Ola Electric is setting a high standard for innovation and scalability in India’s EV market, positioning the country as a central hub for future-ready technology and sustainable energy solutions.
FAQs
Who is the founder of Ola Electric?
Bhavish Aggarwal is the co-founder and CEO of Ola Electric.
What does Ola Electric do?
Ola Electric makes electric scooters and works on other electric vehicle technologies to reduce pollution and promote clean energy.
When was Ola Electric founded?
Headquartered in Bengaluru, Ola Electric was founded in 2017.
Who are the competitors of Ola Electric?
The main competitors of Ola Electric include Ather Energy, Hero Electric, Bounce Infinity, Ampere Vehicles, Greaves Electric Mobility, and more.
With the rise in Electric Vehicles around the globe the market has grown in the past decade. There is a lot of competition among brands to bring out the best Electric Vehicles. The race is both in the two wheeler and four wheeler sectors. Not to forget the bigger vehicles too in this competition! If you are planning to buy an EV or want some information about the trending EVs globally then here is a listicle. Let us dive into the world of EVs and check out the top 10 EVs in the world.
Tesla, Inc. is an American electric vehicle and clean energy company founded in 2003, known for its mission to speed up the world’s transition to sustainable energy through innovative products and solutions. The company was established by engineers Martin Eberhard and Marc Tarpenning, with Elon Musk joining shortly after as a significant investor and later becoming the CEO.
The company has pioneered several key innovations in the automotive industry. High-performance electric vehicles, advanced battery technology, and autonomous driving capabilities are their innovations. Their contribution to the evolution of electric mobility include:
Tesla Roadster
Model S
Model 3
Model X
Model Y
Tesla’s impact on the market has been profound, as it has spurred a global shift towards electric vehicles. This is after it only disrupted traditional automotive manufacturers. The company has reported increasing sales figures. Also, a significant growth in both production and delivery, reflects a rising consumer demand. Besides electric vehicles, Tesla has expanded its portfolio to include energy storage solutions. This diversification aligns with the company’s overarching goal of promoting renewable energy and reducing reliance on fossil fuels.
BYD Auto
Company
BYD Auto
Founded
1995
Market Cap (September 2024)
$99.06 Billion
Origin
China
Website
byd.com
Top EV Companies – BYD Auto
BYD Auto, established in 1995, originated as a rechargeable battery manufacturer. Then it diversified into the automotive sector. The company has evolved into a leading player in the electric vehicle market. It is driven by its commitment to innovation and sustainability. Its headquarters are located in Shenzhen, China. The headquarters has developed a robust infrastructure for research and development.
The company offers passenger cars, buses, and commercial vehicles. BYD’s electric vehicle range is characterized by:
advanced battery technology,
impressive driving ranges, and
a focus on environmental sustainability.
Models such as the BYD Han and BYD Tang have gained attention for their performance and features.
BYD Auto has made significant strides in global expansion. This has helped in establishing a presence in various international markets. The company has formed strategic partnerships and collaborations to enhance its market reach. It has invested in local manufacturing facilities to meet regional demand.
Established in 1908, GM is evolving through various phases of innovation and adaptation. The company has increasingly focused on electrification, recognizing the need to transition from traditional internal combustion engines to EVs.
The launch of the Chevrolet Bolt marked a significant milestone for GM, as it was one of the first affordable all-electric vehicles to offer a substantial driving range, thereby making electric mobility more accessible to the general public. Additionally, the introduction of the Hummer EV represents a bold step in reimagining a classic brand, showcasing GM’s capability to produce high-performance electric vehicles that appeal to both adventure enthusiasts and environmentally conscious consumers.
GM’s long-term vision is centered around achieving an all-electric future, with ambitious goals to eliminate tailpipe emissions from new light-duty vehicles by 2035.
Volkswagen AG
Company
Volkswagen AG
Founded
1937
Market Cap (September 2024)
$52.74 Billion
Origin
Germany
Website
volkswagen-group.com/en
Top EV Companies – Volkswagen AG
Volkswagen AG is undergoing a transformation. It has shifted from conventional manufacturing to electric vehicles (EVs). The company is reflecting a strategic response to the evolving automotive landscape. This transition involves large investments in R&D, and new production facilities.
The ID series represents an innovative approach to electric mobility. It features a range of models designed to cater to diverse consumer needs. This series includes vehicles such as the ID.3 and ID.4. These are equipped with cutting-edge features and sustainable design elements. Volkswagen AG is dedicated to sustainability, aiming to reduce its carbon footprint. The company has set ambitious future goals, thereby contributing to a more sustainable automotive industry.
Hyundai Motor Company
Company
Hyundai Motor Company
Founded
1967
Market Cap (September 2024)
$43.79 Billion
Origin
South Korea
Website
hyundai.com/worldwide/en
Top EV Companies – Hyundai Motor Company
Hyundai Motor Company has made significant strides in the EV sector, focusing on innovative technologies and sustainable practices. The company aims to expand its EV lineup. It looks at investing in R & D for improve battery efficiency and charging infrastructure. This in turn promotes a greener automotive future.
Among the notable electric models introduced by Hyundai are
Hyundai Ioniq
Kona Electric
The Ioniq series offers a range of options, including
The Ford Motor Company has undergone significant transformations in response to the evolving automotive landscape. This shift has necessitated a comprehensive reevaluation of their product offerings. In line with this transition, Ford has launched innovative electric models such as:
Mustang Mach-E: an all-electric SUV that combines performance with eco-friendliness,
F-150 Lightning: an electric version of their iconic pickup truck.
These vehicles not only reflect Ford’s commitment to electrification but also aim to capture the interest of a diverse consumer base seeking modern, sustainable transportation options. To solidify its position in the market, Ford has developed plans that encompass increased investment.
Rivian Automotive
Company
Rivian Automotive
Founded
2009
Market Cap (September 2024)
$13.60 Billion
Origin
USA
Website
rivian.com
Top EV Companies – Rivian Automotive
Rivian Automotive was established with a mission to revolutionize the automotive industry. It aimed at producing sustainable electric vehicles. Such vehicles were designed to cater to the needs of adventure-seeking consumers. The innovation involved environmental responsibility.
The company has concentrated its efforts on developing electric trucks and SUVs. It aims to capture a significant share of the growing market for electric vehicles. The emphasis is given to offering products that combine rugged performance with advanced technology and eco-friendly features. Rivian has attracted large investment from various sources. Such investments have positively influenced its market reception. This has led to heightened interest and anticipation for its vehicle offerings.
NIO Inc.
Company
NIO Inc.
Founded
2014
Market Cap (September 2024)
$10.96 Billion
Origin
China
Website
ir.nio.com
Top EV Companies – NIO Inc.
NIO Inc. is a prominent electric vehicle manufacturer established in 2014. The company was founded by William Li. He aimed to create high-performance electric vehicles.
NIO vehicles stand out in the crowd by their cutting-edge features, which include
advanced battery swapping technology,
autonomous driving capabilities, and
focus on user-centric design.
These attributes not only enhance the driving experience but also address concerns such as:
range
charging times
positioning
The company has experienced growth since its start. It is marked by increasing sales figures and expanding market presence. With an aim to solidify its market presence, NIO plans to:
innovate product lineup
enhance service offerings
explore international markets
Lucid Motors
Company
Lucid Motors
Founded
2007
Market Cap (September 2024)
$8.91 Billion
Origin
USA
Website
lucidmotors.com
Top EV Companies – Lucid Motors
Lucid Motors was established with the vision of redefining the luxury automotive experience. The company aims to create high-performance electric vehicles. These vehicles not only meet but exceed the expectations of discerning consumers. They emphasize a commitment to environmental responsibility and cutting-edge design.
The flagship model, the Lucid Air, exemplifies the brand’s dedication to excellence. It features impressive specifications such as
a range of over 500 miles on a single charge,
rapid acceleration capabilities, and
spacious, luxurious interior equipped with state-of-the-art technology.
The vehicle’s design integrates aerodynamics and efficiency, showcasing a sleek silhouette. The company differentiates itself from traditional luxury automakers by focusing only on electric powertrains, thereby appealing to environmentally conscious consumers who seek high-end vehicles without compromising on performance or style.
Xpeng Motors
Company
Xpeng Motors
Founded
2014
Market Cap (September 2024)
$8.26 Billion
Origin
China
Website
xpeng.com
Top EV Companies – Xpeng Motors
Xpeng Motors, founded in 2014, has emerged as a significant player in the electric vehicle industry. It is driven by a vision to create intelligent and connected vehicles. These vehicles enhance the driving experience. The company was established in Guangzhou, China.
The company is renowned for its cutting-edge technology and advanced smart features such as:
autonomous driving capabilities,
intuitive user interface,
robust suite of connectivity options.
Xpeng’s vehicles are equipped with proprietary software and hardware that enable over-the-air updates, ensuring that customers benefit from the latest advancements in automotive technology.
In recent years,it has expanded its footprint beyond the Chinese market. This expansion is characterized by:
establishment of local partnerships,
introduction of its flagship models,
commitment to meeting the diverse needs of global consumers.
The top EV companies are Tesla Inc., Ford Motor Company, Hyundai Motor Company, Lucid Motors, General Motors, NIO Inc., Rivian Automotive etc.
Who is the No. 1 EV company?
Tesla is considered the market leader in the EV sector. The American company was founded in 2003 by multi-billionaire Elon Musk.
Which country is leading in EVs?
The country which is leading in terms of the production of EVs is China. China produces more than 60% of EV batteries around the world.
What is the full form of BYD?
Build Your Dreams also known as BYD is a China-based multinational high-tech company. BYD Auto is one of the leading EV manufacturers around the world.
On August 22, 2024, Pralhad Venkatesh Joshi, Union Minister of Consumer Affairs, Food and Public Distribution, and New and Renewable Energy, will lay the foundation stone of the Electric Vehicle (EV) Testing Facility at the National Test House (NTH) RRSL Camp in Bengaluru.
A regional centre is being established in Bengaluru, Karnataka, at the RRSL Jakkuru campus in an effort to broaden its operational reach in southern India and to provide testing facilities in emerging fields such as electric vehicle (EV) battery and charger testing. As the electric vehicle (EV) sector grows, this new testing centre will be an invaluable asset, helping to meet industry standards while also advancing greener practices and cutting-edge automotive technology.
The Centre Will Be Equipped With State-Of-The-Art Facilities
Electric vehicle (EV) battery testing equipment in the lab will be able to perform a range of tests, such as electrical safety, electromagnetic compatibility (EMC), functional safety, environmental factors (IP test, UV radiation, corrosion), and mechanical and material tests (flammability, glow wire).
It will help the electric vehicle industry grow and is a huge benefit to the manufacturers in southern India. In keeping with India’s dedication to environmentally friendly energy solutions, the country has taken a significant stride forward in strengthening its electric vehicle infrastructure with the construction of this cutting-edge EV testing facility. The centre will be a one-stop shop for electric vehicle (EV) quality control, with tests covering everything from battery life to safety features to performance indicators, to guarantee that EVs are up to par before they hit the market.
National Test House
A leading scientific organisation that has been at the forefront of testing and quality assurance in a variety of sectors, the National Test House operates under the direction of the Department of Consumer Affairs, which is part of the Government of India. The NTH is a testing and quality assurance agency that has been empanelled for a variety of notable national projects, including the Jal Jeevan Mission, the Bullet Train project, the Metro projects, fertiliser testing, and energy projects, amongst others. Additionally, it is the only government agency in India that offers certified certification for drones. In the cities of Kolkata, Mumbai, Chennai, Ghaziabad, Guwahati, Jaipur, and Varanasi, NTH has testing laboratories that are equipped with the most advanced technology.
For the purpose of testing and calibrating weighing and measuring instruments, the Regional Standards Reference Standards Laboratory (RRSL) in Bengaluru is one of the Regional Standards Reference Standards Laboratory of Legal Metrology (Weights & Measures). One of the manufacturers of dispensing units (Petrol Pump) will be presented with an OIML-approved certificate that is recognised all over the world on the event. This certificate will be presented to M/S Tatsuno India Pvt. Ltd., Mumbai.
Ola is a Bengaluru-based ride-sharing company that only a few people are ignorant of. Ever since Ola cabs became operational in all the major cities throughout India, it has become our go-to option. Along with the US-based Uber, Ola is one of the most dominating ride-sharing companies that offers the users a wide range of vehicles and renting options to choose from!
India’s leading mobility platform, Ola has been operating since 2010, when it was founded and has already streamlined its ride-booking and car renting service and its different modes throughout these years with a focus on its users to add to its growth.
Now, Ola has also chosen to empower sustainable development and therefore, came up with its unique concept of “e-scooters” or what we term as “electric scooters”. With Ankit Jain, Anand Shah, Bhavish Aggarwal, and Ankit Bhati as Co-founders, Ola Electric was founded in 2017 and is set to conquer the world with its unique electric vehicles. However, except for Bhavish Aggarwal, everyone else has stepped down from being Co-founders and has also exited the firm eventually. The Founder and CEO of Ola, is also the CEO of Ola Electric, along with being its Founder.
If you have already heard about them and are curious to learn everything about electric scooters, then you can keep this article handy because here we bring you all that you would like to know about these vehicles, including Ola electric scooter booking, Ola E-vehicle price, Ola Electric scooter price Bangalore, Ola Electric scooter range, Ola Electric scooter specifications, Ola charging scooter, Ola Electric scooter helmet and more.
Why Ola Electric Scooter is much like a “Revolution on two wheels”?
Yes, coming up with Ola electric scooters will certainly help people lose track of the rising costs of fossil fuels and all the morbid thoughts about the exhaustion of our fossil fuel reserves and their likes.
Ola electric is certainly a revolutionary idea and even its tagline says so. The tagline for Ola electric scooter says, “Ready or not, a revolution is coming” along with a motivating hashtag #JoinTheRevolution.
Here are the 3 key features that the Ola Electric scooter boasts of:
Big on Acceleration – The Ola electric scooters would be furnished with acceleration to envy and will allow the users to stay ahead on the road.
High on handling – Along with providing a remarkable acceleration, these bikes are also slick and promise exceptional handling on any surface.
Larger boot space – Ola Electric vehicles also come with a large boot space that is capable of storing two helmets and more important things you would need along the ride.
Ola Electric – Birth of the Entity
Ola has announced that its electricity-powered scooter manufacturing company would be different from its ride-sharing wing. They are two different lines of businesses under ANI Technologies where the former will continue to be a ride-hailing business whereas the latter would be associated with the manufacturing and selling of electric scooters.
Ola Electric Scooters – Built, Colour Variants, Specifications, and Charging
Ola has disclosed that their electric scooters will be made available in 2 versions – the Ola Series S – Ola S1, and the top-of-the-line Ola S1 Pro. The company has already launched S1 and S1 Pro scooters with prices starting from Rs 99,999 and Rs 1,29,999, respectively.
Ola electric acquired Etergo BV back in 2020 and announced that the Ola electric scooter is based on the Etergo Appscooter. The company has already adopted the platform of Etergo to be used in India in order to deliver better performance.
Etergo Appscooter
Looking at the Ola Electric scooter specifications, it is great to announce that the Ola electric scooters paces on 12-inch black alloy wheels. Talking about the design of the vehicles, they are clean and sleek in appearance and devoid of any other redundancies. The Ola e-scooters also feature a twin-pod LED headlamp that has an LED strip running around it.
Ola electric scooter
Furthermore, these also have single-sided telescopic front suspensions and their rear shock absorbers are mounted horizontally, with the disc brakes slotted front and in the rear. The pillion footpegs of the scooter fold flush into the bodywork of the vehicles, and at the back, there are chunky pillion grab handles, ending in clear-lens tail-lights.
These scooters are also claimed to be launched with the largest boot space ever, which are capable of accommodating two half-face helmets and still have space for packing in more.
Ola Electric Scooter boot space
As per the batteries, Ola bikes’ batteries are not swappable types. It will rather run on a standard charging system. The Ola S1 Pro charging time, when charged at home is 6 hours and 30 minutes, while the Ola S1 will be fully charged at home in about 4 hours and 48 minutes.
Ola electric scooter’s riding range for the S1 model is 121 km and for its S1 Pro model, it is around 181 km per charge. The latter also includes the Hyper Mode, which is not present in the former model. However, as per the reports in December 2021, the Ola S1 Pro will have a range of 135 km at full charge, which is the true range of these scooters. The earlier mentioned range by the mobility giant was clarified as the range of the E-scooters only on test conditions.
Ola’s electric scooters are reportedly equipped with a 7.0-inch TFT colour display that will feature in-built navigation, onboard diagnostics, and other infotainment functions, and will be powered by an Android operating system.
Matte black, matte pink, and matte sky blue were some of the colour options that were disclosed by Ola initially. However, currently, the S1 Pro model comes in 10 different colours, which are:
Midnight Blue
Matt Black
Millenial Pink
Liquid Silver
Anthracite Grey
Porcelain White
Neo Mint
Marshmallow
Jet Black
Coral Glam,
On the other hand, the S1 model of Ola Electric scooters comes in 5 colours – Porcelain White, Midnight Blue, Coral Glam, Jet Black, and Marshmallow.
The owners of Ola Electric vehicles will be able to charge their scooters using a standard 5A socket by using the portable 750 W charger that comes with the Ola Electric scooter. Furthermore, you can also charge it at one of its ‘Hypercharger’ charging stations. The company has already announced that it will make the stations live for charging scooters in over 100 cities initially, which will eventually cover over 400 cities.
The first Ola Electric Hypercharger was launched on October 25, 2021, ahead of the planned test drives of the Ola electric vehicles scheduled for November 10, 2021. The S1 test rides of the vehicles have already started, and have received an encouraging response from all across the country, as per the reports of November 20, 2021. Furthermore, after witnessing the overwhelming response that Ola S1 scooters have received, Bhavish Aggarwal, Co-founder and CEO of Ola, has decided to extend the test rides to over 1000 cities by December 15, 2021.
Amazed and proud to see the strong response to our S1 test rides! Thousands of you have tried & loved it! We’re now expanding test rides to 1000+ cities across India by Dec 15. This is the largest direct to consumer outreach in Indian automotive history! #JoinTheRevolutionpic.twitter.com/ErxXkflQzO
Ola Electric has invested in StoreDot and thereby partnered with the Israel-based company that works on batteries to develop them for drones and electric vehicles and replace the lithium-ion component in the batteries. With this partnership, Ola Electric plans to equip its EVs with extremely fast-charging batteries that will be charged from 0-100% in just 5 minutes. The EV giant also happens to eye towards foraying into the battery-making space in India soon. Here goes the latest tweet from Ola Chief on March 21, 2022, when he spoke on the same:
We’re investing big into future cell tech. Excited to announce a strategic partnership with StoreDot of Israel. Will be working together to soon bring to market and manufacture its pioneering extreme fast charging cell tech, capable of charging 0-100% in 5 mins in India. (1/2)
The electric vehicles of Ola are currently manufactured in its electric scooter factory in Tamil Nadu, which has a capacity of producing 2 million vehicles annually and the numbers will rise to 10 million by the end of 2022.
Yes, Ola Electric is in process of building its factory, OLA FutureFactory in Tamil Nadu, which will cover an area of around 500 acres. Having 100 acres of forest cover, 2 acres of forest inside, and with negative carbon footprint, Ola FutureFactory is hailed as the world’s most sustainable two-wheeler factory.
The Ola factory boasts a production capacity of 10 million units per year and will operate with the help of over 3000+ AI-powered robots that will have precision robot welding, an advanced automotive paint shop, 100% in-house battery manufacturing, and more. The FutureFactory of Ola will assemble 25000+ motors per day, which will make it the world’s most advanced two-wheeler factory.
The Ola FutureFactory that is set up at Krishnagiri, Tamil Nadu, is believed to be the world’s largest 2-wheeler factory that is planned with the facilities to roll out 1 vehicle every 2 seconds. Phase 1 of the plant is nearly complete. The FutureFactory of Ola celebrated 1 year of its production facility on February 10, 2022.
Exactly a year ago we bought the Futurefactory land and did bhumi pujan. Yesterday we celebrated the foundation day with 2000 women.
Saluting the Girl power at the Futurefactory who showed what it takes to start a revolution. Inspired by their energy and enthusiasm! pic.twitter.com/o9CtkiP4ew
One of the most unique aspects of this FutureFactory is that the Ola factory’s workforce only consists of women, which is the first of such initiatives in the history of Indian automobiles. When it celebrated its 1 year of existence, the Ola FutureFactory had 2000+ women employed, which has a capacity of employing 10,000+ women. This initiative of Ola furthers the possibilities for women leading industries by a step.
Ola might install a solar rooftop to power its factory and cut down on the electricity bills.
What is the price of Ola Electric Scooters?
The website of the Indian multinational ride-sharing company initially declared that the Ola e-scooters would be competitively priced. According to sources close to Ola, these scooters were expected to be priced around Rs 1 lakh mark.
The prices, as unveiled, later on, are tagged at Rs 99,999 and 1,29,999 for S1 and S1 Pro models respectively. At this price segment, these vehicles will compete with the likes of the Bajaj e-Chetak, Ather 450X, and TVS iQube.
Here’s looking at the current prices as per the Ola Electric website:
Ex Showroom Prices in India
Ola S1
Ola S1 Pro
Gujarat
INR 79,999
INR 1,09,999
Delhi
INR 85, 099
INR 1,10,149
Rajasthan
INR 89,968
INR 1,19,138
Maharashtra
INR 94,999
INR 1,24,999
Other Indian States
INR 99,999
INR 1,29,999
Now, as we see, the Ola E vehicle price varies from state to state where Gujarat is apparently having them at the least available ex-showroom prices. Apart from the mentioned states, all other states like Karnataka, West Bengal, Bihar, Andhra Pradesh and more will have their Ola vehicles with starting prices of INR 99,999. Now, if you are looking for Ola electric scooter price in Bangalore, then it would also be starting from INR 99,999.
If you are eager to learn about OLA Electric bike booking and purchase one of such vehicles, then you don’t have to worry anymore because here are some easy steps that will help you with the Ola scooter booking without any hassles. Here’s answering “how to book an OLA scooter online?” with some easy-to-follow steps:
First, you need to visit the official website of Ola electric: www.olaelectric.com and then click/tap on the ‘Reserve for Rs 499’ button, which appears at the top-right corner of your screen.
Now, you need to enter your mobile number, click on the captcha verification box to verify the same, and then click/tap on the Next option.
You will then receive an OTP on your mobile number, which you will need to type in and then click/tap on the Next option.
Then you will get a dialogue box that says ‘Total Payable – Rs 499’ and will offer 3 payment options – Debit/Credit card, UPI, and Netbanking.
After that, you need to choose your preferred payment option, after which you will be redirected to the payment gateway.
After making the payment you will see the final screen, which will confirm your Ola booking by saying “Congrats, you are now part of the revolution.”
As soon as you have completed making the payment, you will receive the order ID and other details via SMS or email to the mobile number and the email address provided.
Ola Electric – Founders and Team
Ola Electric had earlier listed Ankit Jain, Anand Shah, Bhavish Aggarwal, and Ankit Bhati as Founders, but later on, everyone else left the company, making Bhavish Aggarwal, the sole Founder of the company, as of May 12, 2022. Anand Shah was the first founder to leave the company, Ola Electric in 2019. This resignation was followed by Ankit Jain, one of the closest confidantes of Bhavish. Jain left the company in August 2020. Ankit Bhati also left the company in 2020.
Bhavish Aggarwal
Bhavish Aggarwal – Founder and CEO of Ola Electric
Bhavish Aggarwal is the brain behind Ola Electric and Ola, who founded Ola Electric with the other founders. The Co-founder and CEO of Ola and Ola Electric is a B.Tech engineer from IIT Bombay and has been a Research Intern and an Assistant Researcher at Microsoft before he founded Ola.
Ola has already roped in Wayne Burgess, a Jaguar design veteran who also served as the Design Director of Jaguar Production and SVO Vehicles, and plans to make their vehicles big on design, bringing in the global appeal to the vehicles.
Wayne Burgess
Besides, Ola is also planning to launch an indigenously built car in order to foray into the electric four-wheeler industry, which will also get a major boost in its design with Burgess leading their team as the VP of Design. The Ola electric cars are expected to be launched in the next 2-3 years and would be produced in a new Ola 4W factory, which will be a new factory that is yet to be built. The Ola Electric Futurefactory would only stay for 2-wheelers. According to the latest update by Ola chief Bhavish Aggarwal, the Ola electric 4-wheeler would be the sportiest car ever built in India. The 4W factory of Ola would need an additional 1,000 acres of land for its 4-wheeler factory and its proposed gigafactory, which will manufacture cells for both its 2-wheelers and 4-wheeler vehicles.
Funding received by Ola Electric Mobility
Ola Electric Mobility, the subsidiary of Ola responsible for manufacturing Ola Electric scooters, has raised a total funding of $1.5 billion to date over 12 funding rounds and is powered by 21 investors in total. The last Ola Electric funding round was raised on October, 26, 2023 when the company raised $240 million.
The lead investors of Ola Electric Mobility include big names like Softbank, Tata Sons Private Limited, Matrix Partners India, Tiger Global Management, Hyundai Motor Company, Kia Motors, and more.
Here’s a glimpse into all the prominent funding rounds that OLA Electric has seen so far:
Date
Stage
Amount
Investors
October 26, 2023
Debt Financing
$240 million
State Bank of India
September 7, 2023
Venture Round
$140 miilion
Temasek Holdings
May 22, 2023
Private equity Round
$300 million
–
January 24, 2022
Venture Round
$200 mn
Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, and others
December 8, 2021
Series C
$53 mn
Temasek Holdings
September 30, 2021
Series C
$200 mn
Alpha Wave Global, Softbank
July 12, 2021
Debt Financing
$100 mn
Bank of Baroda
March 12, 2020
Series B
$1 mn
Pawan Munjal Family Trust
September 16, 2019
Corporate Round
–
Kia Motors, Hyundai Motor Company
July 2, 2019
Series B
$250 mn
Softbank
May 6, 2019
Series A
–
Tata Sons
March 1, 2019
Series A
$53.58 mn
Matrix Partners India, Tiger Global Management
Ola ELectric – Growth
Ola Electric, which started taking bookings in July 2021, has already begun achieving some memorable milestones. Some of them can be summed up as:
Ola Electric has clocked sales worth Rs 1100 crore in just 2 days
It was hailed as the best-selling electric 2-wheeler after Hero Electric in March 2022, when it clocked the sale of 9000+ units.
With over 12689 units of Ola Electric scooters sold in April 2022, Ola Electric was recognised as the highest-selling electric two-wheeler company in India.
Ola has sold 41,024 units in 2022, as reported on June 25, 2022.
Ola Electric New Product
Ola Electric is up for a new product launch on the Independence Day of 2022. There are speculations that this new product is an Ola Electric car. It is on the 15th of August 2021 that the EV manufacturers launched the S1-series of electric scooters. So, we need to keep an eye on that for sure!
Here’s what the Ola chief tweeted with regards to the same:
Super excited to announce a new product this 15th August!
The Independence day launch of Ola Electric would be another Ola Electric scooter, at least as per the trailer that Bhavish launched on Twitter on August 7, 2022. The trailer had a scooter just like Ola S1 Pro, carved out as a silhouette, where he mentioned the “greenest scooter just got greener”.
On 15th August, we’ll be revealing the greenest EV we’ve made! Any guesses? 🇮🇳 😉 pic.twitter.com/aMFxToOSTo
Though there are only subtle mentions of the new launch, the Ola product might be an updated version of the S1 Pro model, or it might be an updated colour of the same. Besides, it might also be an affordable version of the Ola scooters. The launch event of the company will be livestreamed by Ola on the Independence Day.
Ola Electric Scooter Sales
After witnessing a noticeable decline in the number of registrations of EV companies MoM, in April and May, the registrations for EVs rose slightly in June 2022, which increased by 6.8% MoM. The situations or growth stories for big companies like Pure EV, Okinawa, and Ola Electric are a little different though. Ola Electric witnessed a 27.3% decline in May, and then again witnessed a 36.5% decline in June, the registration of which counted to 5874 units. This also resulted in Ola losing out its last month’s second position to Hero Electric, whose registration figures, after witnessing a decline over the last 2 months, sprung back again in June, rising by over 128% MoM. Entities like Ather, Ampere, and Revolt, all witnessed a rise in their vehicle registrations in June 2022 unlike Ola, as of July 2, 2022.
Ola, which peaked in its registrations by registering 12,705 units in April 2022, witnessed a prominent downfall, where the Ola Electric sales fell over one-third, to register 3856 units in July 2022.
Manufacturing Batteries
Ola Electric declared that it would be manufacturing batteries for its scooters, which is why it is in talks with numerous global suppliers to build a battery cell manufacturing plant in India. The battery manufacturing plant will have a capacity of up to 50 gigawatts (GwH) hours, as per reports dated June 8, 2022. The manufacturing expenses of such a plant will be around $1 bn. The capacity of the battery manufacturing plant might initially be 1 Gwh, which would eventually be further upgraded. Suppliers from Korea, Japan, Germany, and other countries might serve as the suppliers of Ola Electric. As per calculations, Ola Electric would be needing 40 GWh of battery capacity to successfully power 10 mn. The company has received incentives along with a few other companies, under the Production Linked Incentives (PLI) scheme, where the Indian government announced the investment of around $2.4 bn worth of funds. This government of India scheme aims to boost the local manufacturing of advanced chemistry cell (ACC) batteries.
The EV manufacturers revealed the first indigenously manufactured Li-ion cell, NMC 2170 on July 13, 2022. This cell is completely manufactured in-house, the mass-production of which is expected to begin in 2023 at its upcoming Gigafactory.
Ola developed the country’s first indigenously developed Li-ion cell, NMC 2170
Ola Electric announced on July 18, 2022, that it will invest $500 mn in its Battery Innovation Centre (BIC), which will be set up in Bengaluru. The BIC will serve as an R&D facility for electric vehicle battery cells. However, the electric vehicle manufacturing company hasn’t disclosed the funding round, and whether it will pour money by itself or depend on external funds.
The MoveOS 3 Firmware Update for Ola S1 and S1 Pro Revealed
The Ola S1 and S1 Pro electric scooters would be receiving the Move OS3 software. It is still being put together, as revealed by the automaker company on July 16, 2022, and would likely be released on October 24, 2022, during Diwali. This new firmware update would equip the scooters with advanced features like Hill hold, proximity unlock, moods, regen v2, hyper charging, calling, key sharing, and more.
Pre-Sale Bookings and Sales Records for the Ola Electric Scooters
Ola opened the option for pre-booking their customers on July 15, 2021. Therefore, everyone who was eager to buy the much-awaited e-scooters, and wanted to stay ahead of their peers could pay a refundable deposit amount of Rs 499.
Ola electric vehicles have witnessed pre-bookings of more than 1 lakh vehicles, as reported on July 17, 2021, the numbers of which increased each second.
The purchase for Ola electric bikes was geared to start from September 8, 2021, and the brand was set to kick start the delivery of the products from October 2021, as of the website status on August 2021. The brand also mentioned then that the purchase of the S1 Pro vehicles will be starting from September 8, 2021, and the Ola scooter delivery will tentatively begin from October 2021 onwards. The booking for Ola S1 and S1 Pro had already started back then and you can also find it live on their website as well as the Ola app even today.
However, Ola S1 scooters couldn’t be bought on the mentioned date due to technical glitches in the developer’s end of the website that failed to make it up and running. The website that would be a one-stop solution for digital purchases, which would also guide the customers with a fully digital loan process without any paperwork, wasn’t live on September 8, 2021. Ola co-founder and CEO Bhavish Aggarwal apologized on Twitter for the frustrating experience the customers had to go through and postponed the purchase date to September 15, 8 am. He further reassured that the reservation of the customers in the purchase queue will remain unchanged.
The purchase of the Ola e-scooters went live on the mentioned date, September 15, 2021, at the end of which it was declared by Bhavish Aggarwal that Ola Electric sold 4 scooters/second, which resulted in the sale of scooters worth Rs 600 crores+ in a single day. The total sale of Day 2 was even better as goes the Twitter post of the Co-founder of Ola Cabs, Bhavish Aggarwal:
Day 2 of EV era was even better than Day 1! Crossed ₹1100Cr in sales in 2 days! Purchase window will reopen on Nov 1 so reserve now if you haven’t already.
Ola is also looking to transport their electric scooters to the US by early 2022 as part of its international trade. The CEO of the company, Bhavish Aggarwal has mentioned,
“Yes soon! We will be shipping to the US by early next year,”
in a reply to Vivek Wadhwa, a US-based entrepreneur on Twitter, who earlier referred to the Ola Electric scooters as “the Tesla of Scooters,” further adding, “would love to get one here in Silicon Valley.“
Ola, however, had to postpone the deliveries of the e-vehicles from the month of October to November 2021 due to a global semiconductor shortage. However, the delay has further extended, as per the reports dated November 22, 2021, where the company has decided to defer the first batch of deliveries of its e-scooters to December 15 – 30, 2021, which was earlier expected to happen between October 25 – November 25, 2021.
Ola Electric – IPO
In order to be ready for its Initial Public Offering (IPO), Ola Electric has changed its status to that of a publicly traded corporation. Ola Electric Mobility Private Limited was the company’s previous name and now Ola Electric Mobility Limited before it underwent a corporate restructure in order to reach this noteworthy milestone.
Ola Electric – Partnership
Reliance General Insurance, a private general insurance business, announced a partnership with OLA Electric to offer an Extended Warranty Product in September, 2023.
Ola Electric – Acquisitions
Ola Electric has acquired 1 company to date that goes by the name Etergo.
Name of the Company Acquired
Date of Acquisition
Deal Value
Etergo
May 27, 2020
–
Ola Electric – Investments
Ola Electric has invested in StoreDot, a Tel Aviv-based battery innovating and developing startup that aims to replace the lithium-ion component on the batteries.
Name of the Company
Date of Investment
Funding Round
Lead Investor
StoreDot
March 21, 2022
Corporate Round
Yes
Ola Electric – Challenges
Aiming to transform the types of vehicles and the fuel that fuels them is itself a huge challenge that Ola has embraced with its e-scooters. Ola Electric has also faced many other challenges in its path of making EVs popular, and one of the major challenges is the fire incidents that the vehicle manufacturing company has seen in March 2022. Here are some of the prominent challenges faced by the EV giant so far:
Ola Electric Production Suspended in Tamil Nadu Futurefactory
Ola Electric has paused its production at Tamil Nadu’s Krishnagiri plant, as of July 30, 2022, for nearly a week. It has piled up 4000+ units at the same factory. Though an ET news previously reported that the company has decided to shut down the factory, an OLA Electric spokesperson refuted the reports, and stated that like all factories need annual maintenance, the Ola Futurefactory did too!
Ola’s Change of Payment Model Reduces Sales
Ola Electric initially used to set multiple payment windows for the customers, which opened on 4 specific dates and helped them pay in 4 instalments. However, on May 28, 2022, the Electric vehicle manufacturer changed that payment model to a one-time full payment model, where the customers will have to pay for their vehicles in full on a single occasion. This change has been impacting Ola Electric sales ever since. In the past 2 weeks, Ola has sold only 130-200 units, as per news dated June 25, 2022. Though this model is allowing the company to offer INR 10,000 discounts to its employees, the total vehicle sales were down by 27.3% MoM in May to 9230 units. The total vehicle sale of Ola stood at 41,024 units on June 25, 2022, so far in 2022.
Fire Incident in Pune
An Ola Electric vehicle set itself on fire in Pune in March 2022. This caused widespread fear and anxiety among all and has also led the company to recall 1441 bikes in order to diagnose them and check their overall health including their batteries, thermal, and safety systems.
Guwahati Accident
Amid the fire incident woes, Ola Electric has faced another criticism involving the son of Balwant Singh, a Twitter user, who alleged that he bought an Ola S1 Pro for his son, which met with an accident on March 26, 2022. This accident, he alleged, was due to a fault in the regenerative braking system. However, Ola Electric, in response to this, posted the telemetry data to prove that there were no issues with their scooter and that the accident was purely due to overspeeding and panic-braking. It also revealed the telemetry data in the form of an official statement on its Twitter handle.
As soon as Ola Electric posted the detailed telemetry report along with relevant graphs, proving that the son of Balwant Singh was overspeeding, and met with an accident, Ola Electric started facing huge backlashes for tracking customer data and publicising the same without the consent of the customers. This led Balwant Singh immediately mail Ola Electric and its authority to take down the personal telemetry data of Balwant’s son that was shared. Any further action taken by Ola was not known, but the fact whether the telemetry data can be considered as a customer’s own private data is debatable truly.
Balwant Singh’s son’s case was shot into the spotlight once again on May 12, 2022, when, as per the reports, Ola Electric responded to Singh, asking him to delete the negative reviews on social media within 24 hours or else, he would be facing legal action. The company’s response was backed by its earlier claim that it hasn’t breached data privacy.
Ola Electric Resignations
Ola witnessed another top-profile resignation on May 8, 2022. After Arun Sirdeshmukh, the CEO of Ola Cars, Dinesh Radhakrishnan is the next person to follow. Radhakrishnan was the CTO of Ola Electric who handled critical engineering functions of the company.
Ola Electric – Marketing, Brand Ambassadors and More
Ola Electric has already been a grand pre-booking success and is innovating its marketing strategies to attract the present generation of customers. The company is targeting all the available forms of media including traditional media, print media, and online media to empower the Ola scooter marketing strategy. The company has already roped in Bhuvan Bam, singer, songwriter, actor, and one of the most popular YouTubers of India, famous for his Youtube “BB ki Vines,” as its brand ambassador to hook in the young generation of buyers.
Bhuvan Bam was hired on August 27, 2021, on a contractual basis, the agreement of which declares that the popular Youtube personality would collaborate with the electric scooter manufacturers to create entertaining and eccentric content revolving around the new-age Ola Electric scooters.
Bhuvan Bam seemed thrilled to be an Ola Electric brand ambassador and said,
“I am really happy that Ola Electric considered me as one of their ambassadors. It’s truly exciting to be a part of this green revolution, something I’ve always wished for. The scooters are sleek, attractive, and are designed as per the Indian electric vehicle market. I have joined the green revolution already and I can’t wait for everyone to get their hands on it.”
Ola Electric – Future Plans
Ola Electric has plans to launch its electric car in 2024. Ola Electric is currently looking to establish its battery manufacturing plant in India that will have a capacity of 50-gigawatt hours. Furthermore, along with that, the electric two-wheeler manufacturing company will also be investing in advanced cell and battery manufacturing.
FAQs
How much does Ola electric scooter cost?
The Ola electric scooter has 2 models –
Ola S1 is priced at Rs 99,999.
Ola S1 Pro is priced at Rs 1,29,999.
The Ola e-vehicle prices, as mentioned above, are for all other states excluding Delhi, Gujarat, Maharashtra, and Rajasthan, where people will find the Ola Electric bikes even cheaper.
What is the Ola S1 Pro boot space?
Talking about the Ola S1 Pro boot space, it is safe to conclude that Ola promises to bring you the largest boot space currently available in the market, which will have the capacity of accommodating two half-face helmets, with space for packing in more.
How is the Ola Electric bike booking process?
The Ola Electric scooter booking in India or the Ola Electric bike booking is an easy process where the users would just have to go to the Ola Electric official website and book them online.
What is the range of Ola electric scooter?
The ranges of Ola Electric scooters on a single charge are-
Ola S1 – 121 km
Ola S1 Pro – 181 km
Though Ola has advertised that the Ola Electric scooters would have a range of around 181 km, the true range of Ola bikes is 135 km, as disclosed later on.
What is the top speed of Ola Electric scooter?
The top speed of Ola Electric S1 is 90km/hr whereas for the S1 Pro model the top speed is 115 km/hr.
What are the Ola S1 Pro and S1 charging times?
The Ola s1 pro charging time is around 6 hours 30 minutes, while the S1 variant of the Ola e-scooter will be fully charged in around 4 hours and 48 minutes when charged at home.
How to charge OLA electric scooters?
The Ola Electric scooters can be charged using a 750 W charger that comes with the Ola Electric scooter that needs to be plugged into a standard 5A socket. Besides, the users can also charge their scooters at the nearest Hypercharging stations.
Who is the Ola brand ambassador?
The Ola brand ambassador is none other than the founder of “BB ki vines” Bhuvan Bam.
The concern for the environment had led people to increase their interest in electric vehicles. Not only this, but the cost of fuel can also decrease as all it needs are electric-drive components. As per reports, the worth of the electric vehicles market would be INR 475 Billion by 2025.
The coming decade is anticipated to be the ultimate decade for the future of electric cars in India. With battery amounts reportedly falling up to 73%, electric-powered vehicles are anticipated to be as reasonably priced as gas-powered vehicles within the foreseeable future. The International Energy Agency cites that there would be 70 million electric vehicles by 2025. Till 2026, the EV market is scheduled to grow at a CAGR of 36%.
Nations such as the UK, France, Norway, and India are about to undertake e-mobility on a bigger scale. India has loads to the advantage of the massive adoption of e-mobility. Under the Make In India program, the production of e-cars and their related additives is anticipated to increase the percentage of production in India’s GDP by up to 25% by 2022. On the monetary front, large-scale adoption of electrical cars is projected to assist save $60 billion on oil imports by 2030.
In this article, we will talk about the future of Electric Vehicles in India. So, let’s get started.
Current Situation of the Electric Vehicle Market in India
Currently, 84% of India’s oil name is fulfilled through imports. The price of gas might also additionally need to fall, assisting an electric-powered car owner can save as much as Rs20,000 for each 5,000km traversed. Finally, electrification will lessen vehicular emissions, a key contributor to air pollutants which reasons an average of 3% GDP loss each year.
The electric vehicles industry in India debts for 22% of the country’s overall production output and is the sixth-biggest industry in the world. Reports suggest that EVs can play an essential position in growing the percentage of production in India’s GDP from 15% (currently) to 25% through the year 2022.
Indian Electric Vehicle Market by Vehicle Type
Future of Electric Vehicles in India
Globally, the cost for lithium-ion batteries is approximately $250/kWh, this amounts approximately to Rs5.7 lakh in battery charges alone. Currently, lithium-ion batteries account for 50% of the price of an electric-powered car, making them costly as compared to conventional automobiles.
Safety of the batteries from explosion act as a spanner for Li-ion batteries. A predominant hurdle for EVs in India is charging, or the shortage of charging stations can also be considered, thereby making them impractical or tons less possible for lengthy distance drives. Furthermore, some EVs aren’t as speedy as traditional gas-powered motors.
Most purchasers in India might purchase an electric-powered car by 2022, however majority of them additionally trust that it may also now no longer be available till 2025. Consumers in India are searching for a decreased amount for EVs than purchasers in different nations, with the worldwide common tipping amount for EVs being $36,000 (around Rs27 lakh). Castrol took over 1,000 purchasers, fleet managers and enterprise professionals throughout India.
At a critical juncture, while all nations are engaged in liberating Mother Earth from the claws of carbon emissions, and CO2, India can play a leadership position by switching over to EV mobility to make the country a greener and cleaner ecology.
Impact of COVID-19 on the Electric Vehicle Industry
During the pendency of COVID-19, we watched how the surroundings progressed due to the fact of lesser emissions from petrol and diesel-run motors and industries in India. In many cities, the smog absolutely vanished. In many components of India, people should even view remote mountains that were now no longer possible for them to look for years due to the fact of the atmospheric stumbling blocks created due to the emission of the smoke from fossil-gas run motors. By switching over to clean-inexperienced electricity run EVs, we will make skies crystal clear, permitting us to study remote places. EVs keep the critical thing to everlasting answers of a better, cleanser India for the sustainability of its populace.
Range is the key factor here ie.15km on average, whilst a city taxi also can additionally do 300km daily. In an excellent world, we might have a smaller battery percentage and definitely need to recharge periodically. In practice, taxi and fleet motors can earn money overnight, or even personal customers can also additionally have limits on charging options, without fast charging.
An infrastructure for fast charging an EV calls for a remarkable deal of extra strength than 15 amp sockets, which may provide approximately 3 kW of strength, so 35 kWh takes nearly 12 hours. Unlike the US, maximum Indians don’t have a private garage. Hence, full-size and company-agnostic public charging infrastructure will become a key coverage choice.
Indians are famously price-conscious. This is why clients love diesel cars, notwithstanding their better MRP and pollutants relative to their petrol counterparts. The value of EVs is based upon power price, which varies significantly. At Rs7/kWh (kilowatt-hour) of strength, they value approximately Rs1.1/km This saves clients riding 5,000km steadily over Rs20,000 annually, and ensures a remarkable deal. With the Make In India initiative, there is a chance we will see an increase in the making of EVs.
The capture is the advance value. EVs are expensive, ordinarily due to the battery. A single kWh of power is sufficient to head approximately 6 km, so a 200km “complete tank” variety calls for approximately 35 kWh of battery. Today’s charges for lithium-ion batteries are approximately $250/kWh globally, which involves Rs5.7 lakh in battery prices, with the exception of import duties. Even with an eight-year lifespan and a 12% interest rate, justifying the battery prices on steady with kilometre economic savings. However, whilst battery charges fall to $100/kWh, as projected some years out, EVs can emerge as a recreation changer.
Conclusion
The electric vehicle market will definitely see a surge in the coming years. With the concern for the environment and the surging price of fuel, the need for electric vehicles has increased and will do the same in the future. If proper infrastructure is provided and if it becomes affordable and has access to every consumer group, the EV market might become one of the biggest industries in the country.
FAQs
Who is leading the Electric Vehicles sector in India?
Tata Motors is currently leading the EV sector in India.
Is EV will be successful in India?
Electric vehicles will grow at a CAGR of 36% till 2026.
Are electric cars faster than petrol cars?
Electric cars can accelerate faster than petrol cars but they lack the top speed.
As we all know, two-wheelers constitute a considerable part of the Indian motor vehicle ecosystem and are an integral mode of transportation in some regions. Though two-wheelers have been around since the early 20th century, it is only a decade old that they have started to make their way into the daily lives of millions of Indians.
The number and types of two-wheelers available in India have expanded to include scooters, motorcycles, mopeds, and motorcycles that are mostly fuel-driven. On the other hand, there is a relatively small but fast-growing segment of electric two-wheelers, also known as e-two-wheelers.
These are gaining popularity and have been making headlines due to the apparent benefits they bring with them. But how long will these e-two-wheeler companies sustain? Well, this must be a question that every potential buyer has in his mind when he or she decides to buy one.
In the recent past, though, India has made it clear that they want nothing less than 7 million EVs on their roads by 2030. This seems like a tall order, and India will have to exert a lot of effort towards making it possible. Let’s check out what Indian Electric Two-Wheeler Industry looks like and is it able to survive;
The electric two-wheeler industry has been growing steadily over the last few years, but it still remains a niche market. The first electric scooter was introduced in 2013 by a startup called Ather Energy, and since then, there has been no looking back.
The company sold 1,000 units of its Thunderbird in 2016 and manufactured over 3,000 units of this model in 2017. The company also plans to launch an electric motorcycle in the next couple of years and plans to sell around 100,000 units of this model. This is just one of many brands that have begun manufacturing electric two-wheelers in India.
The electric two-wheeler industry is at its nascent stage in India. The Government has recently announced a plan to make all vehicles driven by electricity by 2030.
Support by the Government
The electric two-wheeler industry has been the center of attention for quite some time. The main reason for this is the rising pollution and the need to reduce it. The move toward electric vehicles is a step in the right direction. However, many factors need to be taken into account before making a decision on which vehicle to buy.
It has been announced that the Indian Government will invest $60 billion in electric vehicle production by 2025 as part of their “Make in India” campaign. This is expected to boost sales by 50% over the next five years.
The number of electric two-wheelers sold per month has steadily increased since 2013, when they first hit the market, with only 1,000 units being sold that year. Still, this figure has now climbed to over 20,000 units per month, according to recent reports published by SIAM (Society of Indian Automobile Manufacturers).
The Indian Government aggressively pushes the electric vehicle (EV) agenda to reduce pollution and boost green energy. It plans to achieve the target of 100% electric mobility by 2030. The Government has also announced several incentives, such as reduced GST and better infrastructure for EVs, among others.
The industry is still at its nascent stage in India, and the demand for electric two-wheelers is mainly driven by e-commerce companies like Flipkart, Amazon, etc. However, growth in demand for electric vehicles has been slow due to poor infrastructure, lack of awareness, high cost, and customer preference toward conventional bikes over electric bikes.
Growth of Electric Two-Wheeler Companies in India
Electric two-wheelers are gaining momentum in the Indian market. Several companies have entered the electric two-wheeler segment in the last two years. These include Hero Electric, Ather Energy, Zoomcar, Ola Electric and TVS Motor Company.
Some of these companies have already launched their products, and some others are about to launch them soon. This has led to increased competition in the industry which will benefit customers in terms of better products at lower prices. However, there are still some challenges that these companies need to overcome before they become profitable entities.
What Is Propelling the Growth of Electric Two-Wheelers?
Electric two-wheelers are a relatively new concept in India. The idea is not new, though, with countries like China have been using electric scooters and bikes for a few years now. Indian cities have been witnessing a surge in the number of people opting for public transport due to traffic congestion and pollution levels, which has led to the increased usage of electric vehicles.
The need for an alternative method of transportation has gained more importance than ever before. The number of people opting for electric two-wheelers as their primary mode of commute has grown manifold over the past few months, especially after the Delhi government announced its plan to buy 10,000 battery-operated bikes from BSF to be used by its security personnel.
The major factors driving this growth are:
Increase in disposable income
Government support and subsidies
Increasing awareness about pollution and climate change.
What Is Restricting the Growth of the Electric Two-Wheelers?
Electric two-wheelers are gaining popularity in India. The electric two-wheeler industry is anticipated to grow at a healthy pace in India and is expected to become a USD 3 billion market by 2025. However, some factors are restricting the growth of the industry in India:
High Manufacturing Cost
The manufacturing cost of an electric two-wheeler is high compared to conventional bikes due to the use of expensive lithium-ion batteries and other electronic components. The cost of manufacturing an electric scooter or bike is around USD 1,600 while manufacturing a conventional motorbike is around USD 500-600.
Experts believe that if the cost of raw materials used in making electric bikes comes down, then it can help reduce the overall manufacturing cost significantly.
Limited Availability of Charging Infrastructure
There is limited availability of charging stations for electric two-wheelers in India which will restrict their growth in the next few years unless considerable investments are made by manufacturers and government bodies to build charging infrastructure across cities and towns across India.
There were only about 1,000 charging points across India as of December 2018, which means that there is only one charging point per every 100 km, making it difficult for users to charge their batteries while commuting between cities or towns.
Low Battery Life
Another challenge facing this industry is that its batteries do not last long enough before they need charging again; often, they only last 10 kilometres or less before needing recharging again.
The Hype Surrounding the Two-Wheeler Industry
The hype surrounding the industry is more than just a marketing gimmick. The Government has been actively promoting the use of electric vehicles in India. The Government believes that if many commuters adopt these vehicles, it will help reduce pollution. It also hopes that this will lead to economic benefits by reducing fuel imports and improving job creation.
The Government has set up several incentives for such purchases to encourage people to make this switch. For example, buyers get an additional income tax deduction under Section 80EE of the Income Tax Act.
This gives them a deduction of Rs 1 lakh on an electric car and Rs 50,000 on an electric scooter or motorcycle. Thus, if you bought a new two-wheeler that costs over Rs 2 lakhs after March 31st, 2022, you can claim as much as Rs 50,000 as a deduction from your taxable income for each vehicle purchased during the financial year 2021-2022; this is double what you could claim in FY2020-2021.
Future Trends of the Two-Wheeler Industry
The electric two-wheeler industry is growing at a fast pace. Many companies are trying to come up with new products and services. The future trend of the electric two-wheeler industry is that it will continue to grow and become more popular in the future.
The following are some of the promising trends that can be expected in the next few years:
Increase in the Number of Electric Bikes
The number of electric bikes and scooters will increase in the coming years as more people are interested in them because they want to save money on fuel, reduce pollution, and many other reasons.
More People Will Use Electric Scooters or Bikes for Commuting Purposes
Commuting is one of the major drivers of why people are using electric scooters instead of cars or public transportation. They do not have to worry about intense traffic jams or finding parking spaces when they commute using an electric bike.
Increasing R&D Investments
The major players across the globe are investing millions of dollars in R&D activities to develop new technologies and improve existing ones. For instance, Shimano Inc., a Japan-based company, has focused on developing new products such as electronic shifting systems, road bikes, and mountain bikes since 1984. It also acquired Cannondale Bicycle Corporation in 1988, which provided it with an opportunity to strengthen its position as a leading player within the biking industry.
Steps That Should Be Taken to Sustain the Growth of the Two-Wheeler Industry
The Indian two-wheeler industry has been expanding at a healthy rate of around 20% year over year. This growth has been supported by increasing urbanization and increasing disposable income. A rising preference for automobile ownership is also driving the demand for two-wheelers. However, this growth may not be sustained in the long run if we do not take certain steps immediately.
The first step would be to improve the infrastructure of roads, highways, and other modes of transportation in India. As a result, this will significantly improve the movement of goods and people across cities and states, thereby creating job opportunities for millions of people.
The second step would be to create an environment conducive to innovation and research & development. This will ensure that new technologies are developed to help reduce pollution levels in our cities and towns.
Thirdly, we need to encourage the use of electric vehicles (EVs) as they can play an important role in reducing pollution levels in our cities and towns, as well as bring down costs associated with transportation systems due to reduced maintenance costs on EVs compared with conventional internal combustion engine vehicles (ICEVs).
India needs to focus its attention on developing a strong manufacturing base for electric two-wheelers. If we develop that, then the market will indeed thrive…
The electric two-wheeler industry has a realistic chance for growth in India. The Government needs to foster the market through reduced taxes and incentives for manufacturers and suppliers of electric two-wheelers. This will allow more competition among manufacturers and easier access to parts by consumers. The Government should also focus on minimizing the cost of creating infrastructure that can support electric two-wheeled vehicles (i.e., charging stations, electricity reinforcement, etc.), as it will significantly impact the demand for such vehicles.
The market will quickly pick up, with the launch of new manufacturing facilities accelerating the transition from fossil fuels. One day, soon, we will see the day when switching to an e-bike or a car powered by electricity will be an easy choice for people in India and around the world.
FAQs
How many electric two-wheelers are there in India?
In 2021 there were nearly 1.4 lakh two-wheeler units were sold in India.
Which is the best electric two-wheeler in India?
Ola S1, Bajaj Chetak, TVS iQube, and Okinawa iPraise are some of the leading electric two-wheeler brands in India.
Which is the largest selling electric scooter in India?
Hero Electric is the largest selling scooter brand in India.
Every week, it seems like a new startup wants to be a leader in the autonomous driving sector. Interestingly, most startups that want to lead this industry don’t have an option to buy their technology from companies like Waymo and General Motors. This means that these new startups need to develop the technology themselves. This is why so many startups are entering the autonomous driving market and why the sector is growing so quickly. Quite a few companies are creating autonomous driving technology, and they certainly aren’t all going to survive, though. Instead of trying to persuade you about who the best companies are, We’ve narrowed down our list of the most prominent autonomous driving startups in the US. Here you go!
Headquarters: Mountain View, California, United States
Waymo – Top Autonomous Driving Startups in The US
In the race to develop a self-driving car, it’s hard to talk about autonomous driving startups without mentioning Waymo. Waymo is not a car company. It’s a self-driving technology company. And it’s the most well-funded of all the autonomous vehicle startups out there. The company started life as an independent entity named Google Self-Driving Car Project before becoming a subsidiary of Alphabet, Inc. in December 2016.
Waymo is the undisputed leader in autonomous vehicles, with over 3 million miles driven on public roads and another 5 billion miles driven in computer simulations every year. In 2016, the company introduced its first fully driverless car prototype — a Chrysler Pacifica Hybrid minivan equipped with Waymo’s proprietary sensors and software.
The company maintains that its objective is building a self-driving car that can operate safely, reliably, and successfully. As part of this effort, Waymo has made its software and hardware stack open source and is working with partners such as Jaguar to bring new self-driving cars to market.
Waymo Driverless Car
Cruise
Headquarters: San Francisco, California, United States
Cruise – Top Autonomous Driving Startups in The US
Cruise is one of the most well-known autonomous vehicle startups in the US. The startup has raised nearly $6 billion in funding and is currently valued at almost $20 billion.
The Cruise was founded in 2013 in San Francisco, California, by Daniel Kan and Kyle Vogt. It began as an autonomous vehicle company specializing in self-driving car hardware and software. Still, it evolved into a company that exists to develop autonomous vehicles for mass production and use.
The startup’s mission is “to bring safe, clean, and affordable transportation to everyone, everywhere.” Cruise has developed a self-driving system that can be applied to multiple vehicle platforms to achieve its mission. It also created a Cruise Anywhere app that allows users to summon self-driving cars from their smartphones. GM acquired Cruise Automation in 2016 for over $1 billion.
In 2018, General Motors invested another $2.25 billion into Cruise Automation to increase its equity stake to 75%. In February 2019, Honda announced it would invest $2.75 billion into the startup and take a 5% stake in Cruise Automation.
Zoox
Headquarters: Foster City, California, United States
Zoox – Top Autonomous Driving Startups in The US
This startup is a pioneer in the autonomous vehicles space. It is developing a self-driving ride-hailing service using its driverless electric vehicle. The vehicle doesn’t have a steering wheel or pedals and is designed to carry up to four passengers and travel 75 mph. The company envisions its autonomous driving service as an on-demand mobility solution that provides consumers with safe, low-cost urban transportation around the clock.
Zoox has a different objective from other autonomous driving companies. It’s not just making “an SAE Level 4 self-driving car.” Instead, it is building a fully autonomous, zero-emissions vehicle designed for ride-hailing that seats four passengers in a way that makes them face each other.
Unlike traditional self-driving cars, Zoox’s vehicle is bi-directional. As a result, it can drive forward and backwards in the same direction, enabling it to do more efficient U-turns.
Zoox was founded by Tim Kentley-Klay and Jesse Levinson in 2014 and has raised $290 million from investors including DFJ, Lux Capital, Greylock Partners, Draper Fisher Jurvetson, and Blackbird Ventures.
May Mobility – Top Autonomous Driving Startups in The US
One of the first movers in autonomous vehicles for public transportation, May Mobility is a startup already operating a fleet of driverless shuttles in downtown Detroit. The company’s primary focus is “first- and last-mile” transport — connecting people who live or work on the outskirts of a city with public transit hubs like train stations or bus stops.
The company first raised seed capital in 2017 and has since raised an additional $11.55 million — including a Series A round led by BMW Ventures in 2018 and a follow-on round led by Toyota AI Ventures and Maven Ventures in 2019.
May Mobility launched its first commercial service this summer, carrying passengers between two parking lots at the University of Michigan’s Mcity facility for autonomous vehicle testing. In addition, it partnered with the Detroit Department of Transportation to launch a shuttle service that moves commuters from the city’s QLINE rail line to their nearby offices each morning.
Aurora
Headquarters: Pittsburgh, Pennsylvania, United States
Aurora – Top Autonomous Driving Startups in The US
Aurora is the only company on this list that’s not actively pursuing a product. Instead, it’s building the tools used to build self-driving cars. Aurora aims to create an open platform for self-driving tech, which it will license to other companies. That means Aurora isn’t aiming to compete with any of the companies on this list. Instead, its goal is to help them all succeed in their efforts.
Aurora is on a mission is to deliver the benefits of self-driving technology safely, quickly, and broadly. Self-driving technology could save hundreds of thousands of lives and remake cities.
Their safe and pragmatic approach is to build self-driving technology that will move people and goods worldwide one day. They bring together an incredible team with diverse backgrounds and experiences with a singular objective – to deliver on the promise of self-driving technology.
Aurora is working with several partners, including VW Group and Hyundai, and ride-hailing companies like Lyft and Uber. The company’s biggest claim to fame came in 2019 when it acquired Uber’s ATG division in a deal worth $4 billion.
Aurora has raised more than $1 billion in funding from investors like Sequoia Capital and Greylock Partners.
Nuro
Headquarters: Mountain View, California, United States
Nuro – Top Autonomous Driving Startups in The US
Nuro is one of the most prominent autonomous driving startups in the US. The startup was founded by two former Google engineers, Dave Ferguson and Jiajun Zhu, in 2016. In June 2018, the company was granted a permit to test self-driving vehicles on California’s public roads in June 2018.
Nuro aims to build a self-driving vehicle that can help people with their daily tasks. Unlike most other autonomous driving startups, Nuro doesn’t aim to revolutionize personal mobility; instead, it tries to enhance the efficiency of delivery services. The company demonstrated its prototype in 2017, which didn’t have a driver’s cabin as any human operator would have limited the vehicle’s potential.
Nuro’s mission is to make local commerce more convenient for everyone through the instant delivery of goods and groceries.
Lyft
Headquarters: San Francisco, California, United States
Lyft – Top Autonomous Driving Startups in The US
Lyft is perhaps the most aggressive startup in autonomous driving technology.
The company put down a $300 million investment in the self-driving car startup Drive.ai to put the startup’s technology in Lyft cars by 2022. The two companies expect to launch test programs over the next three years as they work to integrate the technology into Lyft’s fleet.
Lyft also partnered with Waymo, Alphabet’s subsidiary developing self-driving cars, back in 2017 and has been allowing Waymo’s autonomous vehicles on its ride-hailing platform since then.
Lyft’s objective is to build an open-source autonomous driving system that will allow any car manufacturer to integrate it into their vehicles for free. To achieve this goal, Lyft has been working on gathering the necessary data and building a high-definition map that will help self-driving cars understand the roads they travel on.”
The company said it extends the program across more cities and even allows riders to hail vehicles without a safety driver.
Autonomous driving tech will be advancing rapidly over the next few years. These companies are among the leaders in this field.
There are a lot of companies poised to do something big in the world of autonomous driving. As with any major technological trend, it’s important to keep a close eye on the companies in this space. As they grow, they could emerge as some of the most powerful players in the massive field of autonomous driving. The next decade will likely see many of them launch exciting new products and services and maybe even be acquired by some big tech giants. Don’t be surprised if Apple or Google snaps up one or more of these companies, although there’s no reason to believe that they won’t continue growing on their own just as well. In any case, it’s important to keep your eye on these startups to see how they’re faring in years to come.
FAQs
Which are the top autonomous driving startups in the US?
Most prominent autonomous driving startups in the US are:
Cruise
Zoox
May Mobility
Aurora
Nuro
Waymo
Lyft
Which company is leading autonomous driving?
Top companies that develop AI for self-driving cars are:
Cruise
Waymo
Agro.ai.
Is self-driving market growing?
According to researched data, the self-driving market is projected to grow from $54.23 billion to approximately $555.67 billion in 7 years.
What company makes chips for self-driving vehicles?
Companies that make chips for self-driving vehicles are:
