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Huge Number of Electric Vehicles To Be Launched By OLA soon

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Ola enters UK, rides in South Wales.

Ride-hailing major Ola on Monday said it would roll out about 10,000 electric rickshaws and e-auto-rickshaws in cities and towns across the country over the next 12 months for shuttle services.

“We intend to launch one million electric vehicles by 2021 as part of our commitment to sustainable mobility,” said the city-based firm in a statement here.

As three-wheeler cycle rickshaws and auto-rickshaws are a common transport mode in cities and towns across the country, the company said their electric version would improve outcomes for drivers and commuters alike.

Ola's electric vehicles
Electric vehicles from Ola to be launched soon.

“We will work with driver-partners, cities, manufacturers and battery firms to make cost-effective and sustainable mobility,” noted the statement.

The company will use its app-based hailing and leverage its scale to offer cleaner, comfortable and safer service to its customers.

“As three wheelers are a vital commuting mode and source of livelihood for people daily, the electric version provides an opportunity to improve the service to all stakeholders and reduce pollution in cities and towns,” asserted Ola co-founder and Chief Executive Bhavish Aggarwal on the occasion.

Ola launched its first e-vehicle project at Nagpur in central Maharashtra in May 2017 on a pilot basis to offer accessible and affordable mobility.

Also Read: Ola offers free rides in Melbourne

The company has urged state governments to draft an environment policy for deploying electric vehicles, including three-wheelers for mobility.

The seven-year-old cab hiring provider operates in 110 cities and towns with about 10,000 drivers as its partners nationwide.  IANS

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Hyundai, Kia Invest $300 mn in India’s Ride-hailing Giant Ola

The nine-year-old firm had set up in 2018 Ola Electric Mobility Ltd to use battery-run cabs as a pilot project at Nagpur in Maharashtra

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Ola Cabs. Image source: Flickr

In their single biggest investment ever, Hyundai Motor Co and its affiliate Kia Motors Corp on Tuesday announced an investment of Rs 2,068 crore ($300 million) in India’s leading ride-hailing cab aggregator Ola.

The agreement will see the three companies collaborate on building India-specific electric vehicles and infrastructure and developing unique fleet and mobility solutions, Hyundai said.

“This partnership will also significantly benefit driver-partners on our platform, as we collaborate with Hyundai to build vehicles and solutions that enable sustainable earnings for millions of them, in the time to come,” said Bhavish Aggarwal, Co-founder and CEO of Ola.

Hyundai Motor and Kia Motors will invest $240 million and $60 million respectively in Ola.

As part of the strategic collaboration, the companies have agreed to co-create solutions to operate and manage fleet vehicles, marking the Hyundai Motor Group’s first foray into the industry, as they expand operations from automobile manufacturing and sales to total fleet solutions.

Ola Cab. Facebook

The partnership will offer Ola drivers various financial services, including lease and instalment payments, while vehicle maintenance and repair services are expected to enhance customer satisfaction, Hyundai said.

Hyundai, Kia and Ola also agreed to coordinate efforts to develop cars and specifications that reflect the needs of the ride hailing market.

Also Read- Tech Giant Apple Updates its iMac Line-up

Ola earlier this month raised Rs 400 crore from its early investors, including Tiger Global and Matrix India, to fund its electric mobility business.

The nine-year-old firm had set up in 2018 Ola Electric Mobility Ltd to use battery-run cabs as a pilot project at Nagpur in Maharashtra. (IANS)