"Some 70% of the vehicles on India’s roads are mopeds and scooters, and Bhavish Aggarwal is leading the path to electrifying them," said TIME.
17 Nov 2023 | 4046 Views | By Autocar Professional Bureau
Bhavish Aggarwal, Founder and CEO, Ola, has been named by TIME in its inaugural TIME100 Climate list, recognising the 100 most innovative leaders driving business climate action.
Referring to Bhavish’s inclusion in the list, TIME mentioned, “India is thought to be the world’s most populous country, and likely the ...
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Bhavish Aggarwal, Founder and CEO, Ola, has been named by TIME in its inaugural TIME100 Climate list, recognising the 100 most innovative leaders driving business climate action.
Referring to Bhavish’s inclusion in the list, TIME mentioned, “India is thought to be the world’s most populous country, and likely the most vital to transition to sustainable transportation. Aggarwal is CEO of Ola Electric, India’s largest maker of electric two-wheel scooters, and a market leader in micromobility generally, from taxis to ride-sharing. This year, Ola launched its most affordable electric scooter ever, priced at 79,999 INR (about $960 US)”.
To assemble the list, TIME's editors and reporters fielded nominations and recommendations from industry leaders and partner organisations like Global Optimism and The B Team, as well as TIMECO2’s Advisory Council, then worked to assess the candidates on a variety of factors, including recency of action, measurable results, and influence, noted the press release.
Last month Ola raised Rs 3,200 crore from Temasek, SBI and others, as a part of its equity and debt round raised from Temasek-led investors and project debt from State Bank of India respectively.
The funds will be used for the expansion of its EV business and setting up India's first lithium-ion cell manufacturing facility in Krishnagiri, Tamil Nadu.