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Indian industrialist Ratan Tata to invests in Ola electric mobility

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Mumbai: Indian industrialist and businessman Ratan Tata, the Chairman Emeritus of Tata Sons, has invested in domestic ride-sharing company Ola’s newly-launched electric vehicle (EV) arm Ola Electric Mobility Pvt Ltd (OEMPL) as part of its Series A round of funding, the cab aggregator announced on Monday.

A leading investor in startups, Tata was also an early investor in Ola’s parent company ANI Technologies Pvt Ltd.

 

Ratan Tata, Ola, Ola newly launched electric vehicle, Tata Sons, Ola Electric Mobility, Ride-sharing company, Automobile news, Car and Bike news, Business news

 

“The electric vehicle ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development. I have always admired the vision of Bhavish Aggarwal and I’m confident that this will be part of yet another important strategic move into this new business area,” Tata said in a statement.

OEMPL is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments.

“Mr. Tata has been an inspiration and a mentor to me personally in shaping Ola’s journey over the years. I’m very excited to welcome him on board Ola Electric as an investor and a mentor in our mission of building sustainable mobility for everyone on our planet,” said Bhavish Aggarwal, Co-founder and CEO, Ola.

 

Ratan Tata opts to invest in Ola’s newly launched electric vehicle:

 

“He is a visionary who has inspired a generation of entrepreneurs and we are privileged to have his guidance and support once again, as we work towards our goal of a million electric vehicles in India by 2021.”

OEMPL has raised Rs 400 crore, led by several of Ola’s early investors, including Tiger Global and Matrix India, as part of its first round of investment.

 

Ratan Tata, Ola, Ola newly launched electric vehicle, Tata Sons, Ola Electric Mobility, Ride-sharing company, Automobile news, Car and Bike news, Business news

 

In 2018, the company announced “Mission: Electric” to bring 1 million EVs on Indian roads by 2021. The company was initially established to enable Ola’s electric mobility pilot program in Nagpur.

Tata’s investment in OEMPL is a significant endorsement of the company’s approach to developing an EV ecosystem, including innovations in charging infrastructure, swapping models, and market-appropriate products.

 

Automobile

India to sale only three wheel electric vehicles by 2023

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Three wheel electric vehicles, Electric vehicles, Air pollution, Automobile industry, Vehicular pollution, Auto mobile sector, Car and Bike

New Delhi: The Government of India has taken initiative to reduce air pollution with idea of manufacturing three wheel electric vehicles. Orders have been given to auto mobile industry to start sale of three wheel electric vehicles by 2023.

Two wheeler with engine capacity of 150cc, which are coming out of showroom has to come in power by electricity from April 2025.

 

Three wheel electric vehicles, Electric vehicles, Air pollution, Automobile industry, Vehicular pollution, Auto mobile sector, Car and Bike

A high level government panel is willing to reduce vehicular pollution for bringing major changes in the country. More than two crore units of vehicles are sold annually, which creates traffic of more than 3 quarter in India.

This decision will not impact the registration of vehicles up to cut-off date as they would already be in action.

 

Only three-wheeler electric vehicles to play on roads by 2023:

 

The Government will provide 4-6 years transition window during which they will provided auto industry some time so that they can recover large amount of money which they will be spending in manufacturing BS-VI complaint vehicles from April next year.

Inter ministerial steering committee Niti Aayog and CEO Amitabh Kant is giving deadline to auto industry for delivering vehicles, school and city buses.

 

Three wheel electric vehicles, Electric vehicles, Air pollution, Automobile industry, Vehicular pollution, Auto mobile sector, Car and Bike

Though, auto mobile industry will find it difficult to complete their work within given time limit.

The committee is putting all their efforts to double subsidy and to make electric three wheelers to Rs 20000 per kilo watt hour so that it could become as affordable as fossil fuel.

Government is contemplating to give strict fuel efficiency rules for petrol and diesel vehicles. The government is also providing financial and other concession for electric segment.

 

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