Is Ola Electric Part of Ola or A Separate Entity?
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Is Ola Electric Part Of Ola Or A Separate Entity?

“Entrepreneurs are not driven by fear; they are driven by the idea to create impact.” - Bhavish Aggarwal

Everyone is akin to how Ola is cost-effective, and it also fulfils the desire of those who do not like to travel by vehicle by offering a car drive. Additionally, they are expanding their services - they now offer bike rentals, which are quite convenient for those travelling alone or in a hurry and ones who want to escape traffic. Ola's big success is well-known, and we all admire how it has become an integral part of our daily lives. Ola's entry into the EV market signalled the start of progress in the same field, but is Ola Electric an affiliate of OLA? Let's get into the nitty-gritty of this.

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On target to meet the Government's goal of a zero-emissions transportation system in India by 2030, Ola is working on a project to establish an electric mobility ecosystem that includes charging infrastructure and a wide variety of vehicle fleets ranging from the e-rickshaw to the electric auto-rickshaw. The vehicles were acquired from a variety of major OEM partners, including Mahindra, Tata, Kinetic, BYD, and TVS.

Ola Electric is Redefining India's electric scooter market

An array of manufacturers are presently supplying electric scooters to the Indian market. Indian automaker Hero Electric, along with Okinawa and Ampere Electric, are the most prominent participants in the market.

Ola, India's leading ride-sharing service, knows the country's mobility industry characteristics. This expertise is being applied to the company's electric scooter venture. There is already a lot of talk around Ola, not just because of its service but also because of its environmental and ambitious goals.

Ola Electric, which began as a subsidiary of Ola Cabs, has now established a separate business entity of its own. It became a unicorn in 2019 thanks to investment from Tiger Global, Matrix Partners, and SoftBank. Ola Electric, a start-up, plans to produce 10 million electric scooters a year by 2022, despite being a very new company. Industrial robots have been installed at a factory to aid in this endeavour.

Ola Electric's social initiatives will enable it to stay one step ahead of the competition.

Ola Electric has made significant contributions to sustainability. Its electric scooters are a viable alternative to two-wheelers powered by gasoline or diesel. They contribute to pollution reduction and answer worries about climate change.

Along with environmental sustainability, the corporation is adopting new social performance standards. Bhavish Agarwal, the founder, and CEO of Ola and Ola Electric has announced that Ola Electric's manufacturing will be all female-staffed. This will keep Ola Electric ahead of the established automobile companies, whose plants are manned primarily by males.

This is a positive step for a country that still has a long way to go in terms of inclusivity and gender diversity. Additionally, it will motivate competitors and industrial sector actors to develop an inclusive workforce.

Ola's ambitions are much more tedious

On 15 September 2021, Ola Electric began selling its electric scooters online, making INR11 billion ($200 million) in 48 hours. Additionally, the company's sustainability pledges are light years ahead of the competition.

Uber, the second-largest shared transportation company, has made no announcements about EVs. On the other hand, Ola Electric enjoys a first-mover advantage. The corporation has previously stated its intention to introduce electrified vehicles by 2023.

It will also deploy EVs for shared mobility and last-mile transportation as part of its sustainability objectives. Electric drones and even electric flying automobiles are part of the company's long-term ambition.

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