Ola Electric gets investment of Rs 1164 crore from Singapore’s Temasek

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New Delhi : Ola Electric, a start-up making electric two-wheelers in India, has received a major investment from Singaporean investment firm Temasek. According to the report of English website Live Mint, Ola Electric has received an investment of $ 140 million led by Singapore investment firm Temasek. The EV maker has reportedly received the investment at a valuation of $5.4 billion. This investment is more than Rs 1,164 crore in Indian currency. Ola Electric has secured this investment ahead of its planned initial public offering (IPO).

You will get the investment amount within a week

The report claims that electric vehicle manufacturer Ola will receive this investment amount within a week. The report also said the EV maker will need to raise more money to file its documents for an IPO worth up to $1 billion planned in late 2023. It is not only that Singapore investment firm Temasek has invested in Ola Electric for the first time, but this firm has also invested in this start-up before. Other investors in the Bhavish Aggarwal-backed electric two-wheeler maker also include Japan’s SoftBank Group.

Ola is going to launch new electric scooter and motorcycle

Interestingly, the new investment for Ola Electric comes at a time when the EV maker has announced its product strategy to introduce a range of new vehicles in both the electric car and electric motorcycle segments over the next few years. A few days ago, Ola Electric had revealed its strategy to penetrate the Indian electric motorcycle market. It is planning to launch four different electric motorcycles, which will be targeted at different segments. Besides, the company is also working on its first electric car.

Ola has 32 percent share in the electric scooter market

The report claims that Ola Electric is currently the market leader in the Indian electric scooter market with 32 percent market share. The company competes with rivals like Ather Energy, TVS Motor Company and Hero Electric. The report further claims that Ola Electric sold around 95,000 electric scooters between April and June this year. The company reportedly recorded an operating loss of $136 million on revenue of $335 million in the last financial year.

How much do Ola scooters cost?

Ola Electric is an Indian electric two-wheeler manufacturing company. Popular models of Ola Electric include three scooters and three electric bikes. The price of Ola electric scooter starts from Rs 79,999. The cheapest scooter is Ola Electric Ola S1 X, which is priced at Rs 79,999. The most expensive scooter is the Ola Electric Ola S1 Pro, which is priced at Rs 1.47 lakh. Booking of Ola electric scooter can be done on Ola’s website.

Who is the owner of Ola Electric?

The owner of Ola electric scooter is Bhavish Aggarwal. He along with Ankit Bhati founded Ola Electric in 2010. Ola is an Indian electric two-wheeler manufacturer, headquartered in Bengaluru. Ola is providing services in more than 250 cities of India and four other countries of the world. Ola Electric Scooter sells three electric scooters under the S1 series which include S1 Air, S1 and S1 Pro. Ola recently launched its cheapest electric scooter, Ola S1X. The company claims that this scooter can give a driving range of up to 151 km on a single charge.

Features of Ola scooter

  • High Speed: Ola scooter can reach a speed of 0-40 km in 3.3 seconds.

  • long distance : The battery range of Ola scooter can be up to 181 km.

  • Multimedia: Ola scooter has a 7-inch touch screen display, 2.2 GHz 8 core processor, 4 GB RAM, Bluetooth, LTE-WiFi connectivity and GPS.

  • Top Speed: The top speed of Ola scooter can be up to 116 km per hour.

  • battery pack : Ola scooter has three battery packs 2.5kWh, 3kWh and 4kWh.

  • Charging: The battery of Ola scooter can be fully charged at home in 6.5 hours.

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