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The Economic Times

Business

Ola Electric to invest Rs 2,000 crore in EV, battery cell units

Ola Electric Ola Electric Mobility electric vehicle

Ola Electric Mobility’s board on Friday approved investments worth Rs 2,000 crore into its wholly owned subsidiaries focused on electric vehicles and battery cell manufacturing, as the company looks to strengthen its EV ecosystem and scale operations.

The company said it will invest Rs 1,500 crore in Ola Electric Technologies, which is engaged in electric vehicle manufacturing and services across the EV value chain, and Rs 500 crore in Ola Cell Technologies, which manufactures and distributes battery cells.

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