“Restarting Ola Bike in Blr today This time, all electric and our own S1 scooters!” he tweeted.
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Aggarwal added that Ola bike rides will cost Rs 25 for 5 km and Rs 50 for 10 km ride. “Lowest cost, very comfortable and great for the environment! Will scale across India over next few months,” the Ola CEO tweeted.
Ola, which makes electric scooters and is backed by SoftBank, plans to raise between $600 million and $1 billion in its initial public offering (IPO), which is planned for late 2023 or early 2023.
Aggarwal is looking to bring a CEO for cab business, ET reported earlier this month. However, it is still not clear whether the new CEO will lead ANI Technologies, the incorporated entity that runs Ola Cabs and its subsidiaries including Ola Financial Services or just the core cab hailing business.
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ET reported on September 7 that Ola Electric closed a $140 million funding round led by Singapore’s sovereign fund Temasek, valuing the electric scooter manufacturer at $5.4 billion.