Founded in 2017 under the name Ola Electric Mobility Pvt Ltd, the company offers operations in the Electric Scooter Manufacturing and distribution, charging, and EV Batteries.
From OLA Cabs to acquiring Etergo
Previously Ola Electric was a subsidiary of ANI Technologies (OLA Cabs), which is an Indian multinational company dealing in transportation (ridesharing).
In 2019, the ownership of the company was transferred to the Founder Bhavish Aggarwal with a 92.5% stake but later on more companies invested in it, and also eminent personalities like Ratan Tata have invested in it.
After receiving multiple rounds of funding, the company 2020 acquired an Amsterdam-based electric scooter manufacturer named Etergo.
Ola S1 and Ola S1 Pro
After acquiring Etergo, in 2021 the company started delivering two variants of Electric scooters named Ola S1 and Ola S1 Pro electric which were inspired by the Scooters produced by Etergo.
Must Read: Meet Ola Electric Scooters Ola S1 and S1 Pro
After the launch of the vehicle around 500,000 bookings were made in the first month of availability and were also sold in huge numbers.
Ola Electric has also invested in an Israel-based battery technology company named StoreDot to incorporate and produce its XFC (Extreme Fast Charging) battery technology for the upcoming vehicles in India.
Apart from this, the company has also set up its own manufacturing unit (named Ola Futurefactory) in Tamil Nadu. Both the variants (S1 and S1 Pro) received a very good response in the market but there have been a lot of fire incidents witnessed with the Scooter due to which Ola Electric has also called a batch of 1400+ scooters.
Ola Company Profile
| Founded in: | 2017 |
| Owner Company: | Ola |
| Main Headquarter: | India |
| Area Served: | Asia |
| Manufacturer of: | Two Wheelers |
| Communication: | Official Website |
