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BENGALURU (Reuters) -India's top e-scooter maker Ola Electric reported a bigger quarterly loss on Wednesday, hurt by subsidy cuts and a surge in depreciation costs, but said it was inching closer ...
India's electric scooter market is small but growing, with e-models accounting for 5% of total scooter and motorcycle sales in the last fiscal year against a government target of 70% by 2030.
BENGALURU (Reuters) -Ola Electric's $734 million initial public offering (IPO) was fully subscribed on the second day of bidding, reaching the target amid a sharp sell-off in global equity markets.
The government introduced its Go Electric campaign in early 2021 to encourage the adoption of electric mobility vehicles and electric cooking appliances and to ensure energy security. Road Transport and Highways Minister Nitin Gadkari launched the campaign, saying that Go Electric is a future for India which will promote low-cost ...
Ola Electric was established in 2017 as a wholly-owned subsidiary of ANI Technologies, the parent entity of Ola Cabs. [10] [11] The company was started to reduce emission and fuel dependency of Ola's cabs, and shift to mass electric mobility; a pilot program was launched in Nagpur in May 2017 by setting up charging stations across the city and procuring electric cabs, e-buses, and e-rickshaws ...
As of November 2020, the number of electric scooters in China had reached around 300 million, with annual sales of more than 30 million units. [80] There were only 31,338 electric scooter sales outside the Asia-Pacific region including Europe. The US market is comparatively small, with an estimated 2,000 sold in 2012. [81]
Ola Electric Mobility's shares surged 20% on their trading debut in Mumbai on Friday, valuing the company at $4.8 billion, as investors bet on increasing adoption of electric vehicles in the world ...
In November 2010, the Government of India (GoI), through the Ministry of New and Renewable Energy (MNRE), announced a subsidy of ₹950 million for electric vehicles. The subsidy provided benefits up to 20% on the ex-factory price, with a maximum benefit of ₹100,000 on electric cars, ₹4,000 on two-wheelers, ₹5,000 on high speed two ...
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