Ola Electric raises Rs. 400 cr for its Electric Mobility business (28/31)

Ola’s Electric Mobility ambitions become more concrete with fresh funding for Ola Electric Mobility Pvt Ltd led by two of Ola’s earliest backers, Tiger Global and Matrix India

The new company will be led by Anand Shah, a former senior executive from the auto industry, and Ankit Jain who headed Ola’s connected vehicle platform.

The new business, led by Ola executives Anand Shah and Ankit Jain, has an independent charter to develop platforms and infrastructure to make electric mobility, a reality at scale. Building on various pilot initiatives and evolving market dynamics, the company is primarily focused on deploying charging and battery swapping networks focused on the commercial electric vehicle segment. Ola Electric has already partnered with several OEMs and battery manufacturers and intends to work closely with the automotive industry to create seamless solutions for electric vehicle operations.