Ola: The rise and wobble of India's EV pioneer Ola

Ola, once a rising star, is facing falling sales amid rising competition and regulatory scrutiny.

British Broadcasting CorporationWatch LiveHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingAudioPodcastsRadioAudio FAQsVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveWeatherNewslettersThe rise and wobble of India's EV pioneer Ola17 hours agoShareSaveArchana ShuklaBBC NewsReporting fromMumbaiShareSaveGetty ImagesSales of Ola's electric scooters have fallen sharplyIt was once the Indian start-up world's shining star, but Ola is now battling a multitude of crises.

Founded in 2010, it quickly became a household name, expanding from ride-hailing to electric vehicles and battery cells, challenging Uber along the way.

The company jumped on the AI bandwagon in 2023 with Krutrim, India's first AI company valued at over $1bn.

Marquee global investors such as Japan's SoftBank, US-based Tiger Global and Singapore's Temasek bankrolled this expansion. Last year, Ola's electric vehicles (EV) arm raised close to $734m (£567m) in a blockbuster initial public offering (IPO), India's biggest in 2024.

But this ambitious rise has been accompanied by a series of controversies lately, particularly at its EV arm.

https://www.bbc.com/news/articles/c15vgegl7pjo

---