Ola Electric, led by Bhavish Aggarwal, is struggling financially and seeking equity capital from public markets after exhausting private funding options. The company faces challenges in sustaining its operations due to the high capital requirements of auto manufacturing. This comes amid a broader trend of EV startups facing financial difficulties, with at least 18 such companies at risk of running out of cash by the end of 2024. The industry's struggles reflect the significant financial pressures and uncertainties in the EV market, with concerns about the sustainability of EV sales and the challenges of dealing with used EV batteries.
Hundreds of thousands of EVs will soon fall out of use in China. Dealing effectively with their batteries is shaping up as a crucial green challenge. https://t.co/A9vM4AgPzW
Hundreds of thousands of EVs will soon fall out of use in China. Dealing effectively with their batteries is shaping up as a crucial green challenge. https://t.co/0JZRmEF5nQ
This is the third time the Environment Ministry has admitted to not caring about internal carbon expenditures while imposing a carbon tax, which is one of the leading contributors to Canada's inflationary crisis. FULL REPORT by @SheilaGunnReid: https://t.co/hDKSEwRDsR
🧵Let's take a look at the real cost of Trudeau Govt mandating electric vehicles. Please stick to the end and see the apocalyptic impact of the Trudeau Govt Electric vehicle mandate to Canada and Canadians (I don't even factor the $44Billion in handouts) https://t.co/tiV9dGHOWv
.@karlbrauer says he sees a few obstacles for EV companies heading into 2024 like tax incentive issues and macroeconomic factors slowing down demand: https://t.co/w6lS98c2oG
"Tesla Wannabe" EV Names Have Run Out Of Cash, As SPAC-Crazed Bubble Bursts https://t.co/nrd8BXRebT
Here we’ll take a look at the small and low(er)-priced EVs that didn’t make it — the flops, the failures to launch, the u-turns and holdouts of North America’s size- and range-obsessed EV market. https://t.co/OFvfd6p28q for @TechCrunch
EV sales are failing now as the expense of owning/operating one is crushing. Going to 100% EVs means billions in new costs for generation/transmission of electricity. We are guaranteed blackouts so don't get rid of your gas car just yet. We can avoid this looming government led… https://t.co/xYMZ4FuI3N
Darren Raddysh looking comfortable running the PP2 point. He was great on the power play last season in Syracuse. His right-side shot is a different look with lefties Hedman and Sergachev typically there, but he's definitely a presence there. #gobolts
Many EV startups are struggling to stay afloat. @WSJ Climate Finance Reporter @AmrithRamkumar reports. https://t.co/uKZS6fTuWp
It's going to be a catastrophe folks. Guilbeault is out of control and his EV policy is going to screw the economy for years to come along with contributing to energy poverty. Click the image fo the column. https://t.co/gyoqXZhVNz
“At least 18 EV and battery startups that went public in recent years were at risk of running out of cash by the end of 2024 as of their most recent filings, according to a WSJ” 140 years of battery scams… 🤦♂️ 🔋 🪫 https://t.co/NkXtdWCvfS https://t.co/DI1AHey3TX
Building out this page right now, utilizing the new Audiences feature from @resendlabs. When signing up, the user’s email gets added to an audience so that I can send a mass email later. The progress bar uses the Resend API to check how many people are already on the list! https://t.co/1Jc8UOws1K
The small and affordable EVs we lost in 2023: https://t.co/C7eWfMwpfQ by TechCrunch #infosec #cybersecurity #technology #news
The small and affordable EVs we lost in 2023 https://t.co/OFvfd6p28q @TechCrunch https://t.co/EYToHkvOq6
The small and affordable EVs we lost in 2023 https://t.co/0Bf2RlHmyt
Ola might have beaten everyone in the short term, but the way it has been going, the company needs a large pool of capital to keep going, writes @sahaprd. https://t.co/GfFFCGPs8l
Electric-vehicle startups were flying high just a few years ago. Now many are focused on survival https://t.co/wBRDYUtA81
(WSJ) - At least 18 EV and battery startups that went public in recent years were at risk of running out of cash by the end of 2024 as of their most recent filings, according to a Wall Street Journal analysis. @WSJ https://t.co/mpEboXRGtz
After shaking all the trees in the private market—venture capital, private equity, rights issue, even debt, Ola Electric's Bhavish Aggarwal wants to fund his venture using money from public market investors. Playing with fire tbh, both him and investors. https://t.co/HxTl8ylm1Y
“Ola Electric is losing at least 15-20% on every scooter.” @sahaprd on why Ola Electric desperately seeks equity capital. https://t.co/GfFFCGPZXT
"If auto suppliers invest for a large volume of EV tooling, it's not going to pay itself off quickly. If the suppliers were planning on every EV promise the manufacturers gave them, they're over-capacitized now and have to figure out what to do with these plants, tooling and…
So Ola founder Bhavish Aggarwal, after shaking all the trees in the private market—venture capital, private equity, rights issue, even debt—has come knocking on the public market. Why? @sahaprd answers with some startling numbers. @MorningContext https://t.co/PJEU6IlLtw
Ola Electric is losing money on every scooter sold. Building an auto manufacturing business is a capex-intensive exercise and Ola Electric is learning this the hard way. @sahaprd explains why it is desperately seeking equity capital. Read more here: https://t.co/6iOJ5em6kB https://t.co/vPOYQAyPR7