India gets an EV booster
Indian ride-hailing outfit Ola is upping its electric vehicle game. The company has launched a dedicated EV business, Ola Electric Mobility, funded to the tune of $55m with the help of a number of financial backers, among them Tiger Global and Matrix India.
Ola Electric has been running the company’s trial EV programme in Nagpur and is operating several pilots to deploy electric vehicles and charging solutions, including battery swapping stations, along with electric two-wheeler and three-wheeler services. The business is partnering with a number of OEMs and battery manufacturers.
Ola plans to have 1m EVs by 2021, including e-rickshaws, as part of its Mission:Electric strategy.
“India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity,” says Bhavish Aggarwal, Ola CEO.
The Indian government recently announced plans to deploy electric vehicle charging stations every 25kms along highways and roads.