Ola

Propelled by the two-wheeler and three-wheeler segment, EV adoption in India is on the rise. But there are still challenges to overcome.

Sprawling network will power ride-hailing company’s two-wheelers.

Ola is building the world’s largest two-wheeler manufacturing plant, which plans to churn out ten million EVs by 2022.

Vanguard Group, that slashed Ola’s valuation is a minority investor with less than 1% in the firm.

In May 2020, Ola Electric turned its focus to become a full-stack manufacturer of two-wheeler EVs.

In May, Ola Electric acquired Amsterdam-based electric two-wheeler OEM Etergo BV to make an entry into this market.

The clean energy driven facility is expected to churn out over two million units annually.

Payment services startup Paytm, cab-hailing major Ola, and hospitality giant Oyo have seen their valuations fall over the last few quarters.