July 21, 2017

Softbank-backed Ola ramps up electric vehicles push in India

Ola logo
Image Courtesy of Ola

Bhavish Aggarwal, CEO and co-founder of Ola, an app-based cab service provider, poses in front of an Ola cab in Mumbai March 3, 2015. Indian ride-hailing firm Ola, backed by Japan’s Softbank Group, is preparing for a large-scale rollout of electric vehicles by next year even as it runs trials on the viability of the business model, Chief Executive Bhavish Aggarwal said.

Ola will pilot a few thousand electric vehicles in several Indian cities this year and, "after that we will be scaling it up in a major way," Aggarwal said in an interview on Friday.

The company will also invest in setting up charging stations in the pilot cities, he said, without saying how much Ola would invest in its electrification drive.

Ola’s push comes as sales of electric vehicles in India have remained slow, despite government incentives to curb pollution.

In the year ended March 2016, 22,000 electric vehicles were sold in India, whereas sales of conventionally fueled vehicles crossed 20 million units in the same period.

India is targeting 6 million electric vehicles on the road by 2020, but high battery costs, a lack of charging stations and the limited range of the vehicles is still a deterrent.Aggarwal, however, has the […]

From Around The Web

Sponsored Content by AdNow
About NGE Staff 9458 Articles
The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

Be the first to comment

Leave a Reply

Your email address will not be published.