Team-BHP
(
https://www.team-bhp.com/forum/)
Ratan Tata has invested in Ola Electric Mobility as part of the Series A funding. However, the company has not disclosed the exact investment figure.
Ola Electric has raised Rs. 400 crore from Tiger Global, Matrix India and others. The company is running several pilot programs in country, which include charging solutions, battery swapping stations as well as deploying e-bikes, electric 3-wheelers and cars.
In 2018, Ola had announced its 'Mission: Electric' plan that aims to bring 1 million electric vehicles on Indian roads by 2021.
Ratan Tata has also invested in Ola's parent company - ANI Technologies Pvt. Ltd.
Link to Team-BHP News
Investment by Ratan Tata (or in fact by any other investor), does not mean the entity would be a success.
In fact, since Ratan Tata has invested, I'd be a wee bit wary of Ola Electric now.
He invested in Snapdeal, now the website is almost history.
His flagship investments - Nano, Tata-Corus, etc. have all fumbled. Also, the Tata Motors stock is now battered due to its JLR subsidiaries.
Lets see how this turns out to be. Again, there seems to be no dearth of investors with money willing to invest on new things.
Ola is onto something here. IMHO, fleet operators & commercial vehicles will be the first adopters of electric vehicles. We're already seeing that in the rickshaw segment -
link.
Not just because of the money in the bank, but Ola also has access to a vast pool of data & well as vehicles on the road. Do note that Ola Electric isn't simply about electric cabs in its fleet. The company is looking at infrastructure (charging, batteries etc.). Other than the government & some OEM vendors, there are no large players in this segment. Period. Could make money. Plus, this infrastructure could be a competitive edge over Uber when EVs go mass-market.
| All times are GMT +5.5. The time now is 19:38. | |
