Ola Electric funding

Bengaluru, 27th Oct 2023: Ola Electric, a leading player in the electric vehicle (EV) industry, has recently secured an impressive funding amount of Rs 3,200 crore. This substantial investment comes from prominent investors, including Temasek and State Bank of India (SBI). In an official statement, Ola Electric proudly announced the successful conclusion of this funding round, led by Temasek and SBI. The company plans to allocate these funds towards the expansion of its EV business, as well as the establishment of India's inaugural lithium-ion cell manufacturing facility. This facility will be situated in Krishnagiri, Tamil Nadu. Looking forward, the Bangalore-based firm is eager to accelerate its growth trajectory in the EV market. Ola Electric aims to achieve this by ramping up it...

Ratan Tata, Chairman of Tata Sons, has invested in EV business of Ola called Ola Electric Mobility (OEM). The investment is a part of OEM's series A round of funding. Ratan Tata invests personally in Ola Electric, the statement said. But the details of the funding were not disclosed. "His investment in Ola Electric will bring his deep experience and mentorship to the company's ambitions to make electric mobility viable at scale," it added. Tata is also an early investor in ANI Technologies, Ola's parent company. He had invested in ANI Technologies in July 2015. In March this year, OEM had announced raising Rs 400 crore in a funding round led by Tiger Global and Matrix India. The electric vehicle ecosystem is evolving dramatically every day, and I believe Ola Electric will p...

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