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Ola Electric Raises Massive Rs 1,500 Crore Funding


The latest round of funding has pushed the brand’s valuation to $5 billion

 

Ola Electric has recently acquired massive funding of $200 million (approximately Rs 1,500 Crore) and is now reportedly valued at $5 billion. The latest round of funding comes from investors like Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, and others.

This should be a major shot in the arm for Ola as the company follows through with its plans of ramping up production, setting up a second manufacturing facility, and establishing the Hypercharger network. The company is already working on installing charging points across India and will offer free charging to customers till June 2022.

Ola Electric has currently stepped up production of the S1 e-scooter to 1,000 units per day. The second lot recently went on sale a few days ago. And if you haven't booked one, fret not; Ola will reopen the sales portal very soon. But understand the buying procedure first.

Apart from the Ola S1, you have many other electric two-wheeler options in India, including the Ather 450X, Bounce Infinity E1, Revolt RV400 and the TVS iQube Electric.

 

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