Ola Electric, a startup in the EV industry, is facing financial challenges, with reports indicating it is losing money on every scooter sold. The company's founder, Bhavish Aggarwal, is seeking equity capital, turning to the public market after exhausting private funding options. This move has raised concerns about the company's financial sustainability. Additionally, a Wall Street Journal analysis revealed that several EV and battery startups that went public are at risk of running out of cash by the end of 2024, highlighting the financial strain in the industry. The struggles of EV startups reflect the challenges in the market, with many companies fighting to survive amidst intense competition and financial pressures.
"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
Many EV startups are struggling to stay afloat. @WSJ Climate Finance Reporter @AmrithRamkumar reports. https://t.co/uKZS6fTuWp
“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
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
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
In Memoriam: The tech that died in 2023 https://t.co/JfESfo9cxh