From Mutual funds becoming net sellers of Indian equities first time in 7 years to Ola Electric planning to set up Li-ion battery plant, here are the top headlines this morning
Ola Electric's scooter: Pricing would be critical as cost is the biggest deterrent at present
Bhavish Aggarwal-led Ola Electric's Rs 2,400 crore unit is being built at record-breaking speed to become the world's largest two-wheeler plant
The world's largest two-wheeler factory is expected to create 10,000 jobs.
The manufacturing facility is coming up in Tamil Nadu
The network is for electric two-wheelers
The MoUs were signed in the presence of Tamil Nadu Chief Minister K Palaniswami
Earlier this year, Ola announced plans of hiring over 2,000 people for its electric business
In May, Ola had announced laying off 1,400 employees, or over 33 per cent of its workforce, as Covid-19 continued to pound the transportation industry
Deal will bolster Ola Electric's engineering and design capabilities with Etergo's extensive vehicle development experience with leading auto firms Tesla, General Motors, Ferrari, Jaguar and BMW
Business Standard brings to you the top headlines of the day
Etergo's scooters use swappable, high energy density batteries that give it a range of up to 240 km.
The Ola-backed company, which operates in Bengaluru, Hyderabad and Mysore, is also betting on electric mobility and aims to have 20 per cent of its fleet as EVs
The agreement, valid for a period of three years, will hasten adoption of electric vehicles in the city
B V R Subbu currently manages a boutique strategy-consulting firm, advising global PE funds. He is also on the boards of various automotive and tech firms
I look forward to working closely with the team at Ola Electric on their mission to electrify mobility at scale, for the masses," said Jaime Ardila
Experts say Ola is wooing top industry veterans whose experience of building global businesses and understanding of emerging markets will be valuable to Ola Electric
Evolution of successful business models in electric mobility, as electric vehicles gain ground and BS VI norms for internal combustion vehicles come into place, will separate men from boys in sector
Firms like SmartE or Bengaluru-based Lithium Urban Technologies, giants like Ola that helps e-commerce companies deliver products, are playing a key role in kicking up sales of electric vehicles
The company, according to sources, is diverting a part of its manpower from teams which mainly manage Foodpanda and Ola Play