Tesla on two wheels? India’s Ola Electric feels the strains of success  | Reuters News Agency

Share This Post

AutomotiveBusiness & Finance

Reuters reported that Bhavish Aggarwal, India’s answer to Elon Musk, is racing to roll out millions of electric scooters and speed his nation to a cleaner future. Some of his mechanics can’t keep up, though. Aggarwal’s Ola Electric, which he likens to Tesla in the West, is zipping towards a stock-market listing after going from zero to 338,000 e-scooter sales in about two years. The tech entrepreneur vows to banish the internal combustion engine (ICE) from India, where two-wheel vehicles rule the roads. 

Market Impact

Two years since Ola’s first e-scooter rolled off the line, the startup has established itself as the leader in India’s two-wheeler EV market, with about a third of sales by volume. It has attracted marquee investors including Japan’s SoftBank (9984.T) and Singapore’s Temasek and is gearing up for a $700 million Indian IPO. 

Article Tags

Topics of Interest: AutomotiveBusiness & Finance

Type: Reuters Best

Sectors: Business & Finance

Regions: Asia

Countries: India

Win Types: Impact (Long Term)

Story Types: Special Report / Insight

Media Types: Text

Customer Impact: Significant National Story

Source link

spot_img

Related Posts

UK inflation falls as meat and crumpet prices drop

It was still slightly higher than economists expected, and...

Rawalpindi weather update ahead of Pakistan-New Zealand T20Is – SUCH TV

The initial matches of Pakistan’s home T20I series...

Caitlin Clark becomes first pick in WNBA Draft in $17K dress

Caitlin Clark sported a a pricey Prada outfit for...

Telecom fights price caps as U.S. spends billions on internet access

AT&T, Charter, Comcast and Verizon are quietly trying to...

‘Ishq Murshid’ final ever episode out in cinemas on May 3 | The Express Tribune

According to local media and eagle-eyed fans who have...

Goldman Sachs reports earnings before market open — here’s what the Street expects

David Solomon, Chairman & CEO Goldman Sachs, speaking on CNBC's...
- Advertisement -spot_img