Hero MotoCorp, Bajaj Auto, TVS, Ather Energy, Ola Electric Mobility, and Kinetic Green have been approved to sell two-wheelers and claim subsidies under the Electric Mobility Promotion Scheme (EMPS), 2024. The scheme, which aims to support 372,000 electric vehicles, is a fund-limited initiative from April 1 to July 31, 2024.
Ola Electric Mobility raised Rs 410 crore from EvolutionX Debt Capital, supported by DBS and Temasek. Founder Bhavish Aggarwal is pitching the IPO to global investors, aiming for a $7-8 billion valuation.
Ola Funding: Ola Electric Mobility raised INR 410 crore from EvolutionX Debt Capital, supported by DBS and Temasek. Founder Bhavish Aggarwal is pitching the IPO to global investors, aiming for a USD 7-8 billion valuation.
IPO-bound Ola Electric retains its market leader tag with 328,785 units registered in FY24, the Vahan portal shows. The number has more than doubled from FY23 at 152,741. In the March quarter, the company saw 119,310 registrations, as against 84,133 units in the previous quarter.
Ola Electric Mobility Ltd. is leading the electric vehicle (EV) market in India and creating waves in the drive towards a greener future. A strategy shift has been shown by recent developments as the company raises money and prepares for its initial public offering (IPO).