- Ola Electric on Thursday said it has raised Rs 3,200 crore from Temasek-drove financial backers and the State Bank of India (SBI).
- Ola Electric was chosen by the public authority under its aggressive cell PLI plot, getting a most extreme limit of 20 GWh.
Ola Electric on Thursday said it has raised Rs 3,200 crore from Temasek-drove financial backers and the State Bank of India (SBI).
The organization declared the effective conclusion of the financing round from Temasek-drove financial backers and the State Bank of India.
Ola Electric Raised Fund for EV Business
The assets raised would be used towards the extension of Ola’s EV business and setting up India’s most memorable lithium-particle cell-producing office at Krishnagiri, Tamil Nadu, the organization said in an explanation.
The Bengaluru-based firm intends to speed up its development by sloping up its bike-producing limit, sending off electric cruisers followed by electric vehicles, and optimizing the development of gigafactory, it added.
Ola Electric Pioneer and President Bhavish Aggarwal expressed that their vision is to end ICE (gas-powered motor) maturity in cars and their impending gigafactory will be a major jump in India’s excursion towards turning into a worldwide EV center point. They are committed towards creating center advances in EVs and cell and are quickly increasing assembling to additionally speed up the progress to manageable portability,”.
