Ola Electric has been in news recently. With its electric scooters launched this month, it had expanded its EV vision in the Indian market. Now it is reported that the company is in talks to plan another financing round. It expects to raise over $500 million in this round scaling up the company’s valuation to $2.5 billion. The company has extensive plans to expand in the South Asian market.
Talks with Falcon Edge Capital on investments are progressing. If it goes well, Falcon Edge Capital will lead the financing round. The company is also in talks with Singapore’s Temasek. In the previous fundraise the company was valued at $1 billion. It is also reported that the parent firm of Ola Electric, Ola is planning to file for an initial public offering. It had recently raised $500 million. It expects to collect funds worth $1 billion with the matters but it is not officially reported yet.
Ola Electric’s first scooter Ola S1 came out earlier this month. It is priced at Rs. 99,999. On a complete charge, it offers up to 121 kilometers range. Analysts from Bernstein had compiled a report for their clients that said Ola is currently the best among its peers. The report also mentioned that the features of the Ola product significantly performed better than that of both Bajaj and TVS. They added that the product is perfectly priced unlike the products from startups like Ather. Such startups also disappoint customers with their untimely delivery and limited service. The scooters from Ola also perform better in software-based features, range, maximum speeds, acceleration, boot spaces, and up to ten different colour options. It is also currently the fastest EV scooter.