Ola Electric pumps Rs 2,000 cr into EV, battery cell subsidiaries to defend turf
Board approved Rs 1,500 cr into Ola Electric Technologies (EV manufacturing) and Rs 500 cr into Ola Cell Technologies (battery cells) via CCPS, with deployment by May 2027. Move comes as FY25 turnover hit Rs 4,717.48 cr but competition from TVS, Bajaj and Ather intensifies.
Ola Electric's board approved Rs 2,000 crore investment into wholly-owned subsidiaries—Rs 1,500 crore into Ola Electric Technologies (EV manufacturing) and Rs 500 crore into Ola Cell Technologies (battery cells)—via compulsory convertible preference shares to scale its EV ecosystem amid rising competition.