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.
Ola Electric share price turned positive after the announcement, it was last trading 0.1% higher at Rs 36.02, as of 2:11 p.m.
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The investments will be made through compulsory convertible preference shares issued at par and are expected to be completed by May 14, 2027, according to a regulatory filing. Both subsidiaries will continue to remain wholly owned units of the company after the capital infusion.
The investment comes as Ola Electric sharpens focus on strengthening its electric vehicle and battery manufacturing ecosystem amid rising competition in India’s EV market and the government’s push for localised cell production under its clean mobility plans.
Ola Electric Technologies reported turnover of Rs 4,717.48 crore in FY25, while Ola Cell Technologies posted revenue of Rs 73 crore during the year, reflecting the company’s continued push into battery and cell manufacturing capabilities.
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The filing said the investment is aimed at supporting the business requirements of the two subsidiaries. Ola Cell Technologies, incorporated in 2022, handles battery and cell manufacturing operations, while Ola Electric Technologies, incorporated in 2021, oversees EV manufacturing and related services.
