Introducing the Ola S1 I Ola Electric

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Climate change is real and so is the need to reverse it. This is not news to any of us. And I know we all want to make a difference. But the question is how do we reverse climate change and also advance our development as a nation, together.&nbsp;80% of the vehicles sold in India today are two wheelers and despite that only 12% of India owns a two wheeler. These vehicles consume 12,000 cr liters of fuel every year and are responsible for 40% of air pollution.&nbsp;

S1 details Climate change is real and so is the.

Ola Electric was established in 2017 as a wholly-owned subsidiary of ANI Technologies, the parent entity of&nbsp;<a href="https://en.wikipedia.org/wiki/Ola_Cabs" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">Ola</a>&nbsp;The company was started to reduce emission and fuel dependency of Ola's cab fleet, and shift to mass electric mobility; a pilot program was launched in&nbsp;<a href="https://en.wikipedia.org/wiki/Nagpur" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">Nagpur</a>&nbsp;in May 2017 by setting up&nbsp;<a href="https://en.wikipedia.org/wiki/Charging_stations" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">charging stations</a>&nbsp;across the city and procuring&nbsp;<a href="https://en.wikipedia.org/wiki/Electric_car" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">electric cabs</a>,&nbsp;<a href="https://en.wikipedia.org/wiki/Electric_bus" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">e-buses</a>, and&nbsp;<a href="https://en.wikipedia.org/wiki/Electric_rickshaw" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">e-rickshaws</a>&nbsp;from&nbsp;<a href="https://en.wikipedia.org/wiki/OEM" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">OEM</a>&nbsp;partners.<a href="https://en.wikipedia.org/wiki/Ola_Electric#cite_note-5" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">[5]</a><a href="https://en.wikipedia.org/wiki/Ola_Electric#cite_note-6" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">[6]</a>&nbsp;In April 2018, it announced that it aims to have 1 million electric vehicles in its fleet by 2022.<a href="https://en.wikipedia.org/wiki/Ola_Electric#cite_note-7" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">[7]</a>Between December 2018 and January 2019, founder&nbsp;<a href="https://en.wikipedia.org/wiki/Bhavish_Aggarwal" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">Bhavish Aggarwal</a>&nbsp;bought a 92.5% stake in Ola Electric from ANI Technologies at a valuation of&nbsp;₹1 lakh&nbsp;(US$1,300), and Ola Electric was&nbsp;<a href="https://en.wikipedia.org/wiki/Corporate_spin-off" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">spun-off</a>&nbsp;as a separate entity. ANI Technologies continued to hold a 7.5% stake in Ola Electric for allowing the use of "Ola"&nbsp;<a href="https://en.wikipedia.org/wiki/Brand_equity" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">brand name</a>.<a href="https://en.wikipedia.org/wiki/Ola_Electric#cite_note-8" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">[8]</a>In February 2019, Ola Electric raised&nbsp;US$56 million from&nbsp;<a href="https://en.wikipedia.org/wiki/Tiger_Global" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">Tiger Global</a>&nbsp;and&nbsp;<a href="https://en.wikipedia.org/wiki/Matrix_Partners" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">Matrix India</a>.<a href="https://en.wikipedia.org/wiki/Ola_Electric#cite_note-9" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">[9]</a>&nbsp;The company announced on 6 May 2019 that&nbsp;<a href="https://en.wikipedia.org/wiki/Ratan_Tata" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">Ratan Tata</a>&nbsp;had invested an undisclosed amount in Ola Electric as part of its Series A round of funding.<a href="https://en.wikipedia.org/wiki/Ola_Electric#cite_note-10" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">[10]</a>&nbsp;It raised $250 million from SoftBank during Series B round funding in July 2019, at a valuation of over $1 billion.<a href="https://en.wikipedia.org/wiki/Ola_Electric#cite_note-ol5-11" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">[11]</a>Ola Electric raised more than $200 million from Falcon Edge,&nbsp;<a href="https://en.wikipedia.org/wiki/SoftBank_Group" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">SoftBank Group</a>&nbsp;and others at a valuation of $3 billion valuation in September 2021.<a href="https://en.wikipedia.org/wiki/Ola_Electric#cite_note-12" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">[12]</a>&nbsp;In December the same year, it raised $53 million in an investment round led by Singaporean holding company,&nbsp;<a href="https://en.wikipedia.org/wiki/Temasek_Holdings" rel="noopener noreferrer" target="_blank" style="color: rgb(6, 69, 173);">Temasek</a>.

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