Ola becomes 1st to launch ride-hailing operations at Ayodhya Airport
Ride-hailing company Ola on Monday launched cab operations at Maharishi Valmiki International Airport in Ayodhya.
Ratan Tata, Chairman Emeritus of Tata Sons, has invested in Ola Electric Mobility Pvt Ltd (Ola Electric) as part of its Series A round of funding. Tata was also an early investor in ANI Technologies Pvt Ltd, Ola’s parent company.
In a statement, Ola said the investment would bring Ratan Tata’s “deep experience and mentorship to the company’s ambitions to make electric mobility viable at scale”.
“Mr. Tata’s investment in Ola Electric is a significant endorsement of the company’s approach to developing an electric mobility ecosystem, including innovations in charging infrastructure, swapping models, and market-appropriate products. Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments,” the company said in a statement.
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Speaking on the development, Tata said, “The electric vehicle ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development.”
Bhavish Aggarwal, Co-founder & CEO, Ola said, “Mr Tata has been an inspiration and a mentor to me personally in shaping Ola’s journey over the years. I’m very excited to welcome him on board Ola Electric as an investor and a mentor in our mission of building sustainable mobility for everyone on our planet. He is a visionary who has inspired a generation of entrepreneurs and we are privileged to have his guidance and support once again, as we work towards our goal of a million electric vehicles in India by 2021.”
The company statement said Ola Electric Mobility Pvt Ltd raised a sum of Rs 400 crore led by several of Ola’s early investors, Tiger Global and Matrix India and others, as part of its first round of investment.
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