Ola to deploy 10000 electric vehicles in 12 months

Electric rickshaw

Taxi aggregator Ola on Monday announced its "Mission: Electric", in partnership with Mahindra & Mahindra, with a commitment to place 10,000 e-rickshaws and electric auto-rickshaws in its service in the next 12 months.

The Bangalore-based startup, which is backed by major investors such as Japan's SoftBank, did not elaborate on how it plans to grow its electric fleet so rapidly.

Ola now has more than a million drivers across 110 Indian cities, so its plan would mean electrifying the vast majority of the vehicles available via its app. The company is also in talks with multiple OEM partners and EV innovators from around the world to bring electric vehicles in a more planned and phased manner. The company launched a trial EV program a year ago in the city of Nagpur, but has reportedly run into some recent road bumps.

Ola plans to have 1 million electric vehicles on offer by 2021, it said in a statement, adding that it will work with various state governments, vehicle manufacturers and battery companies to meet its target.

Ola had launched its first electric vehicle pilot on May 26, that included electric cabs, electric auto rickshaws, electric buses, rooftop solar installations, charging stations, and battery swapping experiments. It says the program has delivered knowledge into effectively managing vehicles, batteries and operations. Electric rickshaws have already shown to be popular in India, with over 100,000 battery powered three wheelers being operated in Delhi.

Electric rickshaw
Asia India’s Electric Rickshaw Revolution

Around the same time, it was also reported that a number of Ola drivers wanted to return their vehicles due to long waiting times at charging stations and higher operating expenses.

The company is planning to develop a stronger business model with Mission Electric for the deployment of EVs in the country.

India wants to ensure that by 2030 all new vehicles will be electric, though it has failed to back up this ambition with any explicit policy or roadmap.

With a mission for nearly 100 percent electric mobility by 2030, the government is trying out different models to give EV a push in the country.

With the latest amendment in Electricity Act of 2003, there is no need for a license to set up an electric charging station anymore. Ola will partner with vehicle manufacturers and state institutions to help deliver its promise. They are expensive and the infrastructure to charge the vehicles is inadequate.

Two die in separate domestic stabbings in London
A man in his 20s was attacked with a knife in Zenith Close, Colindale, north London, just before 6pm on Sunday. He said there "were loads of police officers" and an ambulance remained outside the house for over an hour.

Related:

  • Study shows regular drinking shortens lifespan

    Study shows regular drinking shortens lifespan

    The research was conducted by the Centre for Addiction and Mental Health. There was no increased risk of death for light drinkers.
    Russian and foreign airlines suspend flights over Syria

    Russian and foreign airlines suspend flights over Syria

    It comes as Russian Federation last night vetoed a United States proposal for an investigation into an alleged chemical weapons attack in Syria.
    Moto G6 Plus Geekbench listing reveals key specs

    Moto G6 Plus Geekbench listing reveals key specs

    Now, the Moto G6 Plus has been spotted on a benchmark site revealing some specifications of the upcoming smartphone. It will be joined by the Moto G6 and the Moto G6 and Moto G6 Play when Motorola announces its 2018 roster this week.
  • Sony India extends its Headphone and Speaker line-up for 2018

    Sony India extends its Headphone and Speaker line-up for 2018

    Both the headphones offer up to 20 hours of backup while the WH-CH300 with a neckband design promises eight hours of battery life. The speakers as well as the headphones will be available across all Sony Center and major electronic stores in India.
    Google's AI Can Quickly Pick Out Voices From a Crowd

    Google's AI Can Quickly Pick Out Voices From a Crowd

    Despite the craziness, the AI generated clean audio track for a single person by isolating their face. This will boost up the voice of the person you are talking to, even if they are in a crowded room.

    Monsanto (MON) Position Lowered by HM Payson & Co

    The basic materials company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.09). It also reduced its holding in Cl A by 325 shares in the quarter, leaving it with 6,285 shares, and cut its stake in Cl A.
  • The JM Smucker (SJM) Earns Media Impact Rating of 0.23

    Marketfield Asset Management Ltd Liability Corporation reported 2.2% of its portfolio in Microsoft Corporation (NASDAQ:MSFT). The stock has a market cap of $13,931.79, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.89 and a beta of 0.62.
    Celtic into Scottish Cup final, on course for another treble

    Celtic into Scottish Cup final, on course for another treble

    Rangers man Ross McCrorie was dismissed in the 51st minute, which essentially killed off all hope for them. We can really enjoy this last period of the season, today was a very good performance and a good win.

    BB&T Securities LLC Has $673000 Stake in HollyFrontier (HFC)

    The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. Gabelli Funds Llc has 0.35% invested in American Electric Power Company, Inc. (NYSE:TISI) for 3.84 million shares.
  • Meadow Creek Investment Management LLC Grows Holdings in Fluor Co. (FLR)

    Plante Moran Financial Advisors Limited Liability Corporation reported 248 shares. 599,610 were reported by Prudential Financial. It worsened, as 156 investors sold CELG shares while 478 reduced holdings. 67 funds opened positions while 192 raised stakes.
    Anto, Khloe and Lolu Leaves Big Brother Naija in Final Eviction Show

    Anto, Khloe and Lolu Leaves Big Brother Naija in Final Eviction Show

    Some of the viewers who were expecting the duo to make it to the finals, expressed dissatisfaction with her game strategy. They deliberately stirred the waters for trouble.
    Multiple departments called to Sun Prairie apartment building fire

    Multiple departments called to Sun Prairie apartment building fire

    Two people were displaced in a small fire in a three-story apartment Saturday afternoon in northwest suburban Palatine. Upon arrival, all occupants were out of the residence, and the fire was in the rear unit of the first floor.

Comments

Latest news

AMD's new Ryzen 2000 CPUs - South African pricing
The 2600X and 2600 in the Ryzen 5 range are priced at United States dollars 229 (INR 14,932) USD 199 (INR 12,975), respectively. The 2700 model will come with single-color Spire LED cooler, while the 2600X and 2600 will come with regular "Wraith" coolers.

Joe Willock makes his Premier League debut for Arsenal against Newcastle
The 18-year-old followed Reiss Nelson's top-flight starting debut from the previous week by putting in an admirable display at St. Willock starts in a wide attacking midfield role against Newcastle alongside Alex Iwobi and Pierre-Emerick Aubameyang.

On May, 2 Analysts See $0.37 EPS for Vishay Intertechnology, Inc. (VSH)
The consensus rating is 1.9, indicating analysts in general look favorably on the company's future prospects. Among 2 analysts covering Vishay Intertechnology (NYSE:VSH), 0 have Buy rating , 1 Sell and 1 Hold.

Deepika Padukone isn't shooting now. But this is what's keeping her busy
The onscreen chemistry of Deepika Padukone and Ranveer Singh has always worked well at the box office, leaving producers happy. The report further revealed that Deepika wants to be associated with interesting and content-driven films.

GSA Capital Partners LLP Has $935000 Holding in Applied Materials, Inc. (AMAT)
Therefore 91% are positive. 24 are the (NASDAQ:AMAT)'s analyst reports since October 19, 2017 according to StockzIntelligence Inc. Putnam Investments Limited Liability Company has invested 0.05% in Pinnacle Foods Inc. (NASDAQ:FB) for 311 shares. (NASDAQ:FB).

Junto Capital Management LP Has Lifted Adobe Sys INC (ADBE) Holding
Moreover, State Of Alaska Department Of Revenue has 0.23% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 53,899 shares. The institutional investor owned 100,000 shares of the software company's stock after selling 10,000 shares during the quarter.

Jane Street Group LLC Takes Position in Ritchie Bros. Auctioneers (RBA)
Auctioneers from $35.00 to $37.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 28th. The stock has a market capitalization of $4.80 billion and a P/E ratio of 43.46. (NASDAQ:AAPL) rating on Wednesday, July 27.

Manchester City crowned champions as United crash
Vincent Kompany delivered an emotionally charged speech to Manchester City fans and players after the club's title triumph. City will now be looking to break the Premier League points record in their remaining five fixtures.

Extra Space Storage Inc. (EXR) Analysts See $1.09 EPS
In other news, VP P Scott Stubbs sold 9,250 shares of the company's stock in a transaction that occurred on Thursday, March 15th. It improved, as 26 investors sold EXR shares while 125 reduced holdings. 69 funds opened positions while 101 raised stakes.

Former FBI director James Comey makes shocking claims about Trump
He said he thinks it's possible the Russians have something that could compromise Trump. "He is morally unfit to be president". After Clinton's loss, many Democrats blamed Comey, and Clinton herself has said it hurt her election prospects.

UN Security Council Refuses to Condemn US Attack on Syria
The US-led strikes were the biggest global attack on President Bashar al-Assad's regime since the start of Syria's seven-year war. In telephone calls before the Saturday airstrikes, Macron said he had persuaded Trump not to pull out of Syria.

Analysts' Weekly Ratings Updates for Scripps Networks Interactive (SNI)
AMP Capital Investors Ltd's holdings in Scripps Networks Interactive were worth $2,031,000 at the end of the most recent quarter. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.17.

Taiwan Semiconductor Mfg. (TSM) Upgraded at Zacks Investment Research
The stock of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has "Buy" rating given on Tuesday, October 10 by J.P. HSBC raised Taiwan Semiconductor Mfg. from a "hold" rating to a "buy" rating in a research report on Tuesday, January 16th.

Whitbread Confirms That Elliott Advisors Holds 5.3% Interest (ALLISS)
That sparked a near 7% jump in Whitbread's share price on Monday to £41.97, the highest the stock has been in almost a year.

Mourinho Speaks On West Brom Loss
He also conceded it was sweet to triumph in a country where some critics claimed his purist principles couldn't flourish. While they did it at a time when the game was still in its infancy, their record around that period was astounding.

Other news