Ola, one of the largest cab hailing service in India will be raising at least $1 billion soon. The reason to raise these funds will be to introduce 10,000 electric autos in the Indian market over the next 12 months.
Ola, as part of its Mission: Electric initiative, will deploy 1 million electric vehicles on the roads by 2021. So far, electric vehicles have not taken off in a big way in India. This has been because of the high cost of manufacturing and the lack of sufficient infrastructure such as battery-charging stations.
Ola will be looking to curb all these issues and more as it develops and nurtures an Electric India.
So, as we slowly shift to a better, less polluting mode of transport, you can read more about this initiative here.
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