Ola Electric announces ₹2000cr for EV and battery cell manufacturing
Ola Electric just announced it's investing a huge ₹2,000 crore to boost its electric vehicle (EV) and battery cell manufacturing game.
The cash will go to its two wholly owned subsidiaries, Ola Electric Technologies and Ola Cell Technologies, to help ramp up production and strengthen Ola's EV ecosystem.
Ola Electric splits ₹1500cr/₹500cr EVs/cells
Most of the funds (₹1,500 crore) are headed to Ola Electric Technologies for making more EVs and improving services, while ₹500 crore will power up battery cell manufacturing at Ola Cell Technologies.
Both companies are fully owned by Ola and have shown solid growth (in FY25 (the 2024-25 financial year), the EV arm reported turnover of ₹4,717.48 crore).
This investment is set to wrap up by May 2027 and shows Ola doubling down on its electric future.