Mobility

The development comes a few days after Ola’s electric mobility business Ola Electric raised a USD 200 million funding round.

Spacecraft will power communication and navigation networks for self-driving vehicles.

Oyo’s net income nose-dived 69% to USD 558 million in the financial year ended March 31, 2021, from USD 1.8 billion in FY 2020—the year before the pandemic hit.

With the new funding, Ola Electric plans to accelerate the development of electric scooters and motorbikes as well as electric cars.

PeduliLindungi, a COVID-19 tracking app, has at least 15 problems that must be fixed, according to the Indonesian internet governance forum.

Smart glass developer Gauzy has partnered with LG Display to bring smart, dynamic, transparent displays to various types of vehicles.

Oyo has reportedly been gearing up to file documents for a mega IPO of USD 1–1.2 billion by next week, targeting a valuation of USD 12-14 billion.

EV unit was expected to use funds for auto development and working capital.