Connect with us

Hi, what are you looking for?

CleanTechnica
Ola Electric Mobility, a subsidiary of India’s Uber-competitor, Ola Cabs, recently announced a fresh round of funding from one of the most famous and influential industrialists in India.

Clean Transport

EV Subsidiary Of Indian Cab Aggregator Ola Raises Fresh Funding

Ola Electric Mobility, a subsidiary of India’s Uber-competitor, Ola Cabs, recently announced a fresh round of funding from one of the most famous and influential industrialists in India.

Ola Electric Mobility, a subsidiary of India’s Uber-competitor, Ola Cabs, recently announced a fresh round of funding from one of the most famous and influential industrialists in India.

Ratan Tata, the chairman emeritus of Tata Group, invested, in a personal capacity, in the Ola Cabs venture in the electric mobility segment. While a number of media agencies covered the news, none managed to extract the actual value of investment made by Tata.

Ola Electric plans to bring 1 million electric vehicles to the streets of India by 2021. In early 2018, the company had also announced a plan to launch 10,000 electric vehicles over a one-year period under this medium-term plan. These vehicles are expected to be mostly three-wheeler vehicles that represent a very popular mode of public transport in the India.

The company is believed to have an operational fleet of over 200 electric cars plying as cabs in the city of Nagpur, and claims that the fleet has already traveled 4 million kilometers. This fleet operates as a pilot project launched jointly by Ola Electric and Mahindra Electric, a manufacturer of passenger electric cars in India and subsidiary of auto group Mahindra and Mahindra.

Ola’s major competitor and global leader in cab aggregation services Uber has also entered into a partnership with Mahindra Electric. Last month, the two companies announced a plan to operate 50 electric vehicles as a pilot in the city of Hyderabad.

Passenger electric vehicles in India are not popular for private mobility and are currently only being used by government agencies, under mandate from the central and state governments. Three-wheelers and electric bikes and scooters are much more popular than cars. Electric rickshaws are currently the most preferred means of intra-city travel among all electric mobility offerings. These rickshaws are well-suited for very short-distance travel with small batteries that can be easily charged or replaced.

Cab-hailing services like Ola and Uber can very well prove path-breaking for electric cars to become popular private transportation options, as is envisaged by the Indian government. While several policy initiatives and broad-based incentives have been announced by the government, nothing announced directly for car buyers has so far attracted the attention of the masses.

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

An avid follower of latest developments in the Indian renewable energy sector.

Comments

You May Also Like

Clean Transport

Moove, the world’s first mobility fintech, launches in India as a part of its global expansion. According to its website, Moove is a Nigerian-born...

Cars

Log kya kahenge? (What will people say) This is the mindset that Jothi Viknesh, a 32-year-old from Tamil Nadu, sought to defeat when he...

Cars

Lack of charging infrastructure can give a Tesla Uber driver the blues. By Adam Nelson, as told to David Waterworth For over 6 years,...

Clean Transport

BILITI Electric recently announced plans to set up the world’s largest electric 3-wheeler manufacturing facility in India’s Telangana state. The plant will have a...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.