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ola Electric significantly reduced its net loss to Rs 500 crore in the March quarter by sharply cutting expenses, despite a continued decline in revenue due to slowing electric scooter demand and increased competition. The company's total expenses nearly halved year-on-year, driven by reduced material and employee costs, as it focuses on automation and in-house manufacturing amidst market pressures.

The Indian electric scooter market is heating up with the TVS iQube S 4.7 kWh entering as a rival to the ola S1 Pro 4 kWh. While the TVS boasts a larger battery, the ola claims a higher IDC range.

Investment part of broader $730 million round; valuation up 30% since last secondary transaction.

SoftBank's Indian investments took a hit in the January-March quarter, with its portfolio losing over $600 million. Major companies like Swiggy and ola Electric saw value dips, though Lenskart provided a small gain. This comes as many of SoftBank's recent Indian IPOs face investor concerns about profitability and growth.

Commercial vehicle drivers in Delhi-NCR are striking May 21-23, demanding an immediate taxi and auto fare hike. Unions cite 15 years of stagnant fares despite soaring fuel and operational costs, and allege exploitation by app-based aggregators. A protest is planned for May 23, with threats of further escalation if demands aren't met.

Uber CEO Dara Khosrowshahi is in India to solidify investment plans amidst fierce competition from Rapido. He met with key ministers, discussing EV transitions and dark patterns, and was urged to submit audit reports. Khosrowshahi also highlighted a quadrupling of drivers on Uber's platform since 2022, signaling significant growth.

Uber is set to open two new technology centers in Bengaluru and Hyderabad by the end of 2027, significantly expanding its engineering and infrastructure presence in India. These facilities will focus on AI, backend systems, and global product development, reflecting Uber's long-term commitment to the Indian market and its growing role in solving mobility challenges worldwide.

New rules under the Code on Social Security mandate gig and platform workers to work 90 days with one aggregator for social security benefits. Those working with multiple platforms need 120 days. Aggregators must register workers and face a 12% annual interest for delayed contributions.

Bengaluru's Ultraviolette Automotive is launching its first electric scooter, the Tesseract, in Q2 2026. Priced at Rs 1.45 lakh, it boasts a 261 km range, 125 kmph top speed, and 0-60 kmph in 2.9 seconds. Key features include a 7-inch touchscreen, dual dashcams, and India's first radar-based rider assistance system for e-scooters.

The Calcutta High Court has overturned the Election Commission's 48-hour ban on motorcycle riding for the April 29 polls. Pillion riding will be prohibited for 12 hours, with exceptions for essential travel and emergencies. The court emphasized that blanket restrictions are not justifiable, while upholding the ban on motorcycle rallies.

ola Electric is launching a 'Sona Weekend' sale with up to Rs 50,000 in benefits and a chance to win a gold-themed scooter. Special pricing on S1 X and Roadster X models, plus discounts and extended warranties, are available for a limited time. A unique gold-plated S1 Pro Sona edition is also featured.

India's electric scooter market sees a fierce battle with Simple Energy's Ultra and ola Electric's S1 X+ 5.2 kWh. The Ultra boasts a 400 km range and 115 kmph top speed, while the S1 X+ offers 320 km range and a higher 125 kmph top speed.

App-based cab drivers are launching an indefinite hunger strike at Azad Maidan, Mumbai, starting Monday. They demand strict action against illegal bike taxis and enforcement of government-approved fares on aggregator platforms. Drivers allege authorities have failed to act against companies like ola, Uber, and Rapido, despite repeated protests.

A 15-year-old survivor bravely came forward to record her statement in the Amravati sexual abuse case. This is a significant breakthrough for the special investigation team. Police are actively searching for seven other identified survivors. The main accused and others are already named in the FIR. Authorities are urging anyone with information to come forward to ensure justice.