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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Despite concerns around the battery overheating, the company is pressing hard to meet the 15 December delivery deadline.
Editor's note: Tomorrow, 15 December, is the day Ola Electric has promised to start delivering its S1 and S1 Pro scooters to its customers. The scooters, however, are nowhere near complete. The main problem is with the batteries. They are overheating, in a factory test environment. Ola Electric’s manufacturing facility in Tamil Nadu has produced nearly 100 scooters every day but many failed the quality assurance test, forcing Ola to stop production for three to four days last week, according to three former executives. Finally, on Friday, 10 December, the company began production again, at full throttle. “It seems they will deliver the scooters, but Bhavish [Aggarwal] is taking a huge risk,” says one of the former executives, all of whom requested anonymity. “A battery malfunction can put passengers at risk and run the entire EV sector to the ground.” Battery science is at the heart of an electric vehicle. It deserves and demands patience. The one thing that Ola and CEO Bhavish Aggarwal do not have right now. Ola Electric appears to be in a tearing hurry to get the scooters …
The kingdom is moving to tighten the rules around public listings, algorithmic trading, trading in foreign securities and company disclosures—all in an effort to chase transparency.
The EV maker is back for fresh capital as its businesses fail to generate enough to sustain themselves.
As Rapido and Uber pull ahead, falling traction and mounting financial stress leave Ola with few options.
