Ola Electric
Founded Year
2017Stage
IPO | IPOTotal Raised
$1.569BDate of IPO
8/9/2024About Ola Electric
Ola Electric focuses on sustainable mobility solutions within the electric vehicle industry. The company offers a range of electric scooters and motorcycles designed for energy-efficient transportation. Ola Electric primarily caters to consumers looking for eco-friendly personal transportation options. It was founded in 2017 and is based in Bengaluru, India. Ola Electric operates as a subsidiary of Ola.
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Expert Collections containing Ola Electric
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Ola Electric is included in 3 Expert Collections, including Auto Tech.
Auto Tech
3,971 items
Companies working on automotive technology, which includes vehicle connectivity, autonomous driving technology, and electric vehicle technology. This includes EV manufacturers, autonomous driving developers, and companies supporting the rise of the software-defined vehicles.
Unicorns- Billion Dollar Startups
1,244 items
Bike & Scooter Tech
544 items
We define bike and scooter technology startups as companies working on shared vehicle networks, vehicle design, and charging infrastructure for bicycles, scooters, mopeds, and other compact vehicles for one to two passengers.
Ola Electric Patents
Ola Electric has filed 7 patents.
The 3 most popular patent topics include:
- computer network security
- wireless networking
- automotive safety technologies
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
2/25/2021 | 9/17/2024 | Random number generation, Pseudorandom number generators, Battery electric vehicle manufacturers, Statistical randomness, Battery shapes | Grant |
Application Date | 2/25/2021 |
|---|---|
Grant Date | 9/17/2024 |
Title | |
Related Topics | Random number generation, Pseudorandom number generators, Battery electric vehicle manufacturers, Statistical randomness, Battery shapes |
Status | Grant |
Latest Ola Electric News
Sep 20, 2024
Sep 20, 2024 Ola Electric has taken a significant step to address the rising number of service-related complaints by forming a new service team. With an influx of around 80,000 customer complaints per month, the company is struggling to keep up with the demand for service, leading to long wait times and growing dissatisfaction among customers. Addressing Service Challenges Bengaluru-based Ola Electric is overwhelmed with service complaints, which can reach 6,000 to 7,000 on peak days . This has strained its service centers, leading to overworked staff and slow resolution times. The mounting customer frustration became particularly evident after a recent incident in which a dissatisfied customer set fire to an Ola showroom. The customer claimed that their electric bike repeatedly developed issues, and the service team failed to address the problem in a timely manner. Stock Surge Following Announcement Despite these challenges, Ola Electric Mobility Ltd saw a surge in its stock price, with shares rising by 10%, reaching the upper circuit limit. The stock increased by 9.71%, settling at INR 118.10 on the BSE, and peaked at INR 118.40, the highest permissible trading limit for the day. On the NSE, shares also surged to INR 118.36, marking a 10% increase. Ola Electric’s market valuation now stands at INR 52,091.90 crore. Strong IPO Performance Ola Electric’s initial public offering (IPO), valued at INR 6,145 crore, was a success, receiving 4.27 times subscription last month. The share sale was priced between INR 72 and INR 76 per share. Since its listing on August 9, 2024, the company’s stock has risen by 55.39%, starting from an issue price of INR 76. Ola Electric’s Growth in the EV Market As a manufacturer of electric vehicles and components such as battery packs, motors, and vehicle frames, Ola Electric continues to be a prominent player in India’s growing electric vehicle market. The company is focusing on improving customer service and expanding its capabilities as it navigates both the challenges and opportunities within the EV industry.
Ola Electric Frequently Asked Questions (FAQ)
When was Ola Electric founded?
Ola Electric was founded in 2017.
Where is Ola Electric's headquarters?
Ola Electric's headquarters is located at 100 Feet Road Koramangala, 4th Block, 17th Main, Bengaluru.
What is Ola Electric's latest funding round?
Ola Electric's latest funding round is IPO.
How much did Ola Electric raise?
Ola Electric raised a total of $1.569B.
Who are the investors of Ola Electric?
Investors of Ola Electric include Alteria Capital, EvolutionX Debt Capital, State Bank of India, Tiger Global Management, Tekne Capital Management and 23 more.
Who are Ola Electric's competitors?
Competitors of Ola Electric include River and 7 more.
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Compare Ola Electric to Competitors
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VIOMA MOTORS specializes in the development and manufacturing of smart electric scooters within the e-mobility sector. Their flagship product is a self-charging electric scooter equipped with features like regenerative braking, an integrated touchscreen dashboard, and adaptive LED headlights. The company primarily caters to the eco-conscious consumer market seeking sustainable and technologically advanced transportation solutions. It was founded in 2020 and is based in Mumbai, India.
Hero Electric is a company that focuses on the production of electric two-wheelers, operating within the electric vehicle industry. The company's main offerings include electric bikes and scooters, providing eco-friendly and cost-effective modes of personal transportation. It was founded in 1993 and is based in Delhi, India.
Pure Electric is a company focused on revolutionizing urban travel, operating within the electric micro-mobility industry. The company offers electric scooters and e-bikes, designed to reduce pollution, travel time, congestion, and expensive fares in cities. These products are primarily targeted towards urban dwellers seeking sustainable and efficient transportation solutions. It was founded in 2018 and is based in Bristol, England.
BattRE is a company that focuses on the production of electric scooters in the automotive industry. The company offers a range of electric scooters that are designed to be affordable, efficient, and convenient for urban commuting, with features such as quick charging, detachable batteries, and various color options. The scooters are primarily targeted towards urban commuters. It was founded in 2017 and is based in Jaipur, India.
Cowboy specializes in connected electric bicycles designed for urban riders within the mobility industry. The company offers a range of e-bikes that provide automatic assistance, theft detection, and mobile service for at-home repairs, aiming to enhance urban commuting. Cowboy's products target individuals seeking efficient, sustainable, smart transportation solutions in urban environments. It was founded in 2017 and is based in Bruxelles, Belgium.
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