The electric car ecosystem is evolving dramatically every single day, and I believe Ola Electric will play a key role in its expansion and advancement. I have always admired the vision of Bhavish Aggarwal and I’m confident this will be part of yet another important tactical move into this new business area.
Ratan Tata, Chairman Emeritus, Tata Sons has Invested in Ola Electric as part of the thing’s Series A financing. Ola Electric had increased Rs 400 crore in March this year.
Ola Electric from Ola Cabs – Ratan Tata Invested
Ola’s Ancient investors, Tiger Global and Matrix India and others, had spent in Ola Electric within its first round of investment. In 2018, Ola then announced ‘Mission: Electric’ to deliver 1 million Electric Vehicles on Indian roads by 2021.
Ola Electric is currently running several Pilots involving charging solutions, battery swapping channels, and deploying vehicles over two, three, and four-wheeler sections.
What made Ratan Tata to Invest on Ola Electric Cars ?
“Mr Tata has been an inspiration and a mentor for me personally in shaping Ola’s journey over recent years. I am very eager to welcome him Ola Electric as an investor and a mentor at our mission of building sustainable mobility for everybody on our planet. He’s a visionary who has motivated a generation of entrepreneurs and we are privileged to have his guidance and support once more, as we work towards our goal of a million electric vehicles in India by 2021.”
Ola Electric plans to make electric freedom a reality in scale. Ola Electric plans to work closely with the automotive industry to make seamless solutions for electrical vehicle operations.
The Ride hailing aggregator has already raised $74 million directed by Steadview Capital within the larger $2 billion around. Two years after Ola established a programme to build an electric mass transit ecosystem in Nagpur in partnership with Mahindra, the firm now intends to expand this across the country. Last April, in addition, it announced Mission: Electric, committing to put within 10,000 e-rickshaws and electrical auto-rickshaws on the road in the next 12 months.
Ola Is currently found across over 11 categories in 110 cities in India, and claims to have over 125 million consumers in the country. The Aggregate basis, claims to function as many as a billion rides yearly Through its platform.