Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
Technology

Ola Electric infuses Rs 2000 crore in EV and cell manufacturing

EV maker Ola Electric Mobility on Thursday approved a Rs 2,000 crore investment into its wholly-owned subsidiaries focused on electric vehicle and battery manufacturing. The company is looking to double down on localisation and vertical integration amid rising competitive pressure and profitability concerns.

The board cleared a Rs 1,500 crore infusion into Ola Electric Technologies (OET) and Rs 500 crore into Ola Cell Technologies (OCT) through compulsory convertible preference shares, according to a stock exchange filing.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.