Ola, the biggest rival of Uber in India has formed an independent business called Ola Electric Mobility to double the strength of Ola in the electric vehicles which will be backed by Ola. Powered by Ola the new business has been backed by a string of investors who have invested Rs. 400 crore ($56 million) notably Tiger Global and Matrix India who are also investors of Ola.
While in countries like US automotive companies and ride-hailing services focusing on bringing autonomous vehicles to the road. In countries like India challenged by the diverse geographies and other factors, automotive companies are moving into electric. The Indian government has said that it’s intended to make 30 percent of vehicles run by electric till 2030, but there are no official policies made yet.
Ola, on the other hand, is more focused and has promised last year that it will add 10,000 electric rickshaws and is also focused on the goal of offering one million EVs to the ground by 2022.
Ola is moving forward not to just deploy electric vehicles but it is also moving forward to EVs.
The new Ola company is focused on areas that include charging solutions, EV batteries, and developing feasible infrastructure that permits commercial EVs to operate at large scale, as per the announcement. Led by the Ola executives Anand Shah and Ankit Jain who also led Ola’s connected car platform strategy and the team includes former executives of BMW.
At Ola Electric, our mission is to enable sustainable mobility for everyone. India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity, and lead the world.
Ola CEO and Co-founder Bhavish Aggarwal
