Ola Electric Raises Massive Rs 1,500 Crore Funding

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.

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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.