What is Ola Electric's investment in Store Dot?
The investment was part of our Series D round, that in total comes to around $80 million (approximately Rs 610 crore). While we do not give the internal breakdown, what is important is that we have signed a strategic collaboration agreement, regardless of the equity component. Store Dot is already a high-valued company where it is difficult to acquire a lot of equity. Our aim is to grab a significant market share of a fast-charging batteries in India through this collaboration in the coming years.
As far as investment goes, Ola is the only Indian company and one of the five companies globally, which participated in our Series D round. The others include VinFast from Vietnam, bp Ventures and China's EVE Energy, among others. Till date, we have raised $200 million (approximately Rs 1,532 crore).
StoreDot's strategic collaboration with Ola is part of its $80 million Seried D funding that involves five companies globally including VinFast from Vietnam, bp Ventures and China's EVE Energy.
So far you indicated that two-and three-wheelers were not on the top of your priority list. If you could explain the rationale for the collaboration with Ola Electric in that perspective?
I think it is an alignment of our vision. India in the EV space is a bit behind in terms in the passenger vehicle segment. If we want to achieve significant market share in the four-wheeler space, we need to start as early as possible with partners who share our vision such as Ola Electric. Currently, we are starting with the two-wheeler segment which is the requirement for the Indian market. Ola has already begun to design four-wheelers and these will be on the roads in the future. At that time, we will align with the roadmap.
Will StoreDot provide batteries for Ola's two and four-wheeler EVs?
この記事は Autocar Professional の 1st April 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Autocar Professional の 1st April 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Spain's Fersa Group invests in India-based Delux Bearings
Besides theRs100 croreinvestment, the Indian company gets access toadvanced technologies and bearings with arange of applications that willhelpinits global growth strategy, writes Manobhava Baruah.
Tata Autocomp to open compact dual-clutch transmission plant
Amidthe country’s growing need for personal mobility with easy manoeuvrability, comes the demand for vehicles with automatic transmission. Tata AutoCompisready tomovein writes Shruti Mishra.
Pankaj Munjal-backed Hero Motors raises equity from GEF Cap
The company willinvest Rs1,500 crore over thenextthree years andit expects 60 percent ofits turnover to come fromelectric vehicle parts. Itaims to becomea Global EV Solutions Company from India
New age thermoplastics for next-generation EV batteries
Saudi-based global materials major SABIChas developed cutting edgein fire-resistant polymers and flame-retardant materials that comply with various EV battery safety standards across the world.
Switch Mobility to meet growing e-bus demand with fresh capex
Oncourse for abillion-dollar business, the company is exploringa possibility of operating satellite factories across the country to serve different geographies, write ShahkarAbidi and Ketan Thakkar.
Kia India to invest Rs 2,000 crore in EVS, to introduce new e-RV in 2025
New investmentto drive R&D, infrastructure development and manufacturing capabilities. The company willlocally produce EVsin India with possibility of exports as well, writes Mayank Dhingra.
"The government has given enough time for indigenisation but the industry has not taken it seriously"
Amitabh Saran, Founder and CEO, Altigreen, shares his views on problems inthe EV industry and battery localisation solutions with Amit Vijay M.
TATA MOTORS SEES ONE INTWO CARS SOLDAS EVS BY 2030
The company aims to offer wider choices withnew EVs that may straddle a pricebracket of Rs20to 40lakhinthe coming years, writes Ketan Thakkar.
MG Motor India in expansion drive, to invest $100 million
The investment willbe usedtoramp up existing production capacity from1.2to1.4-15lakh units per annum atthe automaker's Halol plantin Gujarat, writes Ketan Thakkar.
"Technology and its multiplier effect are driving business transformations and customer experiences"
Technical Centre India is one of Continental’s largest research and development centres in the world, andasa Centre of Competence’ it also develops customised products for the BRIC countries.
