{"id":2030,"date":"2023-07-17T17:02:57","date_gmt":"2023-07-17T11:32:57","guid":{"rendered":"https:\/\/www.eqwires.com\/tutorials\/?p=2030"},"modified":"2023-07-17T17:02:59","modified_gmt":"2023-07-17T11:32:59","slug":"ola-advances-plan-for-ipo-as-electric-scooters-take-off-in-india","status":"publish","type":"post","link":"https:\/\/www.eqwires.com\/tutorials\/ola-advances-plan-for-ipo-as-electric-scooters-take-off-in-india\/","title":{"rendered":"Ola advances plan for IPO as electric scooters take off in India"},"content":{"rendered":"\n<p>\u201cI thought it would take me four to six years of revenue to go public,\u201d Founder and Chief Executive Officer Bhavish Aggarwal said in an interview while sipping iced Vietnamese coffee in New Delhi\u2019s bustling Connaught Place.<\/p>\n\n\n\n<p>Ola Electric\u2019s scooter business has also been affected by delivery delays due to chip shortages, and issues with quality and fire.<br>Ola Electric Mobility Pvt. is in line for an initial public offering sooner than its founder previously imagined, reflecting the Indian startup\u2019s whirlwind pace of growth since it started selling electric scooters in late 2021.<\/p>\n\n\n\n<p>\u201cI thought it would take me four to six years of revenue to go public,\u201d Founder and Chief Executive Officer Bhavish Aggarwal said in an interview while sipping iced Vietnamese coffee in New Delhi\u2019s bustling Connaught Place. \u201cNow I can feel that it will be much earlier. Ola Electric has grown and matured faster than I had initially planned because the market response has been very strong.\u201d<\/p>\n\n\n\n<p>The company, whose backers include SoftBank Group Corp. and Tiger Global Management, has become leader in India\u2019s electric-scooter market with a 38% share. It has sold more than 239,000 electric scooters since December 2021, according to data from the Society of Manufacturers of Electric Vehicles.<\/p>\n\n\n\n<p>While demand initially came from first-time scooter buyers, most of Ola Electric\u2019s customers now are already fully-fledged converts, said 37-year-old Aggarwal, dressed in a black Nehru jacket, popularized by India\u2019s first Prime Minister Jawaharlal Nehru and later, The Beatles.<\/p>\n\n\n\n<p><strong>Branching Out<\/strong><\/p>\n\n\n\n<p>Aggarwal has ambitions to expand, with plans to unveil a motorbike by the end of this year and a battery-powered car in 2024, though the timelines may change. He also continues to consider exporting scooters to Southeast Asia, Latin America and Europe, a proposition that got waylaid because demand at home was so strong, according to Aggarwal, whose first startup, ANI Technologies Pvt., runs Ola ride-hailing operations.<\/p>\n\n\n\n<p>Ola Cabs got as far as selecting banks for a $1 billion IPO in Mumbai, Bloomberg News reported in August 2021, but that never materialized. The company, which competes against Uber Technologies Inc., is a \u201cprofitable business for us now,\u201d Aggarwal said in last week\u2019s interview in Delhi. He didn\u2019t comment on any renewed attempts to list, nor did he mention a date for a possible Ola Electric IPO.<\/p>\n\n\n\n<p>Aggarwal is building a 115-acre battery factory in southern India, pitting him against billionaire Mukesh Ambani\u2019s Reliance Industries Ltd., with the aim of making lithium-ion cells primarily for Ola Electric vehicles, as well as potentially offering energy storage and home energy solutions.<\/p>\n\n\n\n<p>Manufacturing EV components in-house will help Ola Electric sell cars on a bigger scale and increase margins, said Aggarwal, who graduated from the Indian Institute of Technology in Mumbai. Designing vehicles from scratch will give the company more control of quality and costs in a market where most EVs are converted from gasoline models, he said.<\/p>\n\n\n\n<p>Achieving success in electric cars won\u2019t be easy. Combustion-engine vehicles remain the favored mode of personal transport in India and dominate the country\u2019s roads. EVs have been held back by the country\u2019s lack of charging facilities and their high price tags. Nationwide sales reached 49,800 last year, just 1.3% of the 3.8 million passenger vehicles sold, according to Bloomberg NEF.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-dark-red-color has-text-color\"><strong><a href=\"https:\/\/www.eqwires.com\/tutorials\/who-is-the-best-sebi-registered-investment-advisor-in-i\">Eqwires Research Analyst<\/a><\/strong><\/h3>\n\n\n\n<p class=\"has-dark-gray-color has-text-color\"><strong><a href=\"https:\/\/www.eqwires.com\/\">Top-notch SEBI registered research analyst<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-dark-gray-color has-text-color\"><strong><a rel=\"noreferrer noopener\" href=\"https:\/\/www.eqwires.com\/\" target=\"_blank\">Best SEBI registered Intraday tips provider <\/a><\/strong><\/p>\n\n\n\n<p class=\"has-dark-gray-color has-text-color\"><a href=\"mailto:info@eqwires.com\">info@eqwires.com<\/a><\/p>\n\n\n\n<p class=\"has-dark-red-color has-text-color\"><strong><a href=\"https:\/\/t.me\/eqwires\">Telegram&nbsp;<\/a>|&nbsp;<a href=\"https:\/\/www.facebook.com\/eqwires\/\">Facebook&nbsp;<\/a>|&nbsp;<a href=\"https:\/\/twitter.com\/EqwiresRA\">Twitter<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-medium-brown-color has-text-color\"><strong>Call: +91 9624421555 \/&nbsp;<em>+91 9624461555<\/em><\/strong><\/p>\n\n\n\n<p><strong><a href=\"http:\/\/www.eqwires.com\/\">www.eqwires.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cI thought it would take me four to six years of revenue to go public,\u201d Founder and Chief Executive Officer Bhavish Aggarwal said in an interview while sipping iced Vietnamese coffee in New Delhi\u2019s bustling Connaught Place. Ola Electric\u2019s scooter business has also been affected by delivery delays due to chip shortages, and issues with quality and fire.Ola Electric Mobility Pvt. is in line for an initial public offering sooner than its founder previously imagined, &hellip; <a href=\"https:\/\/www.eqwires.com\/tutorials\/ola-advances-plan-for-ipo-as-electric-scooters-take-off-in-india\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ola advances plan for IPO as electric scooters take off in India&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":1976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201,172,136,138,134,164,217,368,139,140,324,106,272,266,98,72,97,184,73,268,135,137,133,330,104,141,299,161,160,159,74,75,210,158,166,311,228,227,103,254,102,224,257,298,300,101,105,301,165,327,329,76,77,78,79,247,365,308,361,363,215,216,174,80,81,99,218,82,340,339,320,183,168,167,170,251,83,84,85,86,87,108,88,202,155,154,273,89,100,90,91,92,93,94,95,236,255,385,232,231,250,96,3,260,252,248,249,322,107,192,220,360,275,223,156,157,341,246,238,207,177,176,175],"tags":[4,5,267,6,200,7,12,116,19,149,147,173,145,14,118,11,150,153,265,120,9,271,190,191,13,188,18,318,8,185,316,10,17,269,148,151,146,15,331,319,16,122,144,162,23,41,25,24,27,21,194,50,312,229,226,124,33,253,126,225,119,20,258,28,297,49,127,315,121,230,295,125,115,22,113,29,328,333,317,332,334,314,52,123,131,348,366,357,309,310,359,362,354,349,351,364,213,26,182,111,130,31,62,34,30,42,219,57,112,186,169,56,171,64,132,206,59,53,264,128,43,336,242,237,51,110,32,187,35,55,44,270,288,196,47,37,195,45,39,36,40,203,38,143,152,129,142,46,48,63,67,60,61,65,234,71,235,54,256,117,386,233,68,193,241,335,205,261,263,209,262,337,244,66,204,70,109,259,221,291,274,222,163,69,58,342,239,208,114,178,181,179,180,290],"class_list":["post-2030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accurate-stock-tips-provider-in-india","category-best-advisory-service-provider-for-beginners","category-best-bank-nifty-future-calls","category-best-bank-nifty-options-tips-provider","category-best-bank-nifty-trading-tips-provider","category-best-equity-advisory-services-in-india","category-best-ethical-investment-advisor-in-india","category-best-financial-advisor-websites-in-india","category-best-index-future-services","category-best-index-options-services","category-best-intraday-advisor-in-india","category-best-intraday-call-provider","category-best-intraday-jackpot-calls","category-best-intraday-research-company","category-best-intraday-tips-for-tomorrow","category-best-intraday-tips-provider-in-india","category-best-intraday-tips-site","category-best-intraday-tips-website-in-india","category-best-investment-advisor-in-india","category-best-jackpot-tips-provider","category-best-nifty-future-calls","category-best-nifty-options-tips-provider","category-best-nifty-trading-tips-provider","category-best-option-trading-telegram-channel","category-best-options-tips-provider-in-india","category-best-options-trading-tips-provider-in-india","category-best-paid-stock-recommendation-sites-india","category-best-performing-pms-in-india","category-best-pms-in-india","category-best-portfolio-management-services-in-india","category-best-sebi-registered-advisory-company","category-best-sebi-registered-investment","category-best-sebi-registered-investment-advisor","category-best-sebi-registered-research-analyst","category-best-sebi-registered-stock-tips-provider","category-best-sebi-registered-telegram-channel","category-best-share-market-advisor-in-india","category-best-share-market-advisory-company-in-india","category-best-share-market-consultants-in-india","category-best-share-market-tips","category-best-share-market-tips-provider-in-india","category-best-share-tips-provider-in-india","category-best-stock-advisor","category-best-stock-advisor-websites-in-india","category-best-stock-advisory-service-in-india","category-best-stock-market-advisory-services-in-india","category-best-stock-market-tips-provider-service","category-best-stock-recommendation-service-in-india","category-best-stock-tips-provider-in-india","category-best-stock-tips-provider-in-telegram","category-best-telegram-channel-for-stock-market-tips-in-india","category-business","category-commodity-market","category-currency","category-equity-market","category-equity-research-analyst","category-eqwires-best-investment-advisor-in-india","category-eqwires-best-sebi-registered-investment-advisor-in-india","category-eqwires-best-stock-advisor-websites-in-india","category-eqwires-most-successful-stock-advisors-in-india","category-ethical-sebi-registered-investment-advisor","category-ethical-sebi-registered-research-analyst","category-fact-about-operator-based-calls","category-fii-based-calls","category-foreign-markets","category-free-intraday-stock-tips-for-tomorrow","category-genuine-intraday-tips-provider","category-genuine-stocks-tips-provider","category-googles-highest-ranking-sebi-registered-research-analyst","category-googles-highest-ranking-sebi-registered-stock-advisory-company","category-high-accuracy-intraday-tips","category-how-can-i-make-profit-in-intraday-trading","category-how-to-earn-profit-from-intraday-trading","category-how-to-invest-in-stock-market","category-how-to-make-profit-in-intraday-trading-in-share-market","category-intraday-tips","category-intraday-tra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