Ola Electric Mobility’s board has approved ₹20 billion in investments for its wholly owned subsidiaries - ₹15 billion for Ola Electric Technologies (EV manufacturing) and ₹5 billion for Ola Cell Technologies (battery cells) via compulsory convertible preference shares, to be completed by May 14, 2027.
Ola Electric Mobility’s board has approved investments totaling ₹20 billion into its wholly owned subsidiaries, according to a regulatory filing. The company will invest ₹15 billion in Ola Electric Technologies, which is engaged in electric vehicle manufacturing and services across the EV value chain, and ₹5 billion in Ola Cell Technologies, which manufactures and distributes battery cells.
The investments will be made through compulsory convertible preference shares issued at par and are expected to be completed by May 14, 2027. Both subsidiaries will remain wholly owned after the capital infusion.
This development matters because Ola Electric is sharpening its focus on EV and battery manufacturing amid rising competition in India’s EV market and the government’s push for localized cell production under clean mobility plans.
Ola Cell Technologies was incorporated in 2022, and Ola Electric Technologies in 2021. Industries impacted include electric two-wheeler manufacturing, lithium-ion battery cell production, and EV infrastructure.
Regional stakeholders include India’s clean mobility ecosystem, battery raw material suppliers, and competitors in the EV space.
Ola Electric Mobility is an Indian electric vehicle manufacturer headquartered in Bengaluru, focused on electric scooters and battery cell production.
Ola Electric Technologies and Ola Cell Technologies are its wholly owned subsidiaries handling EV manufacturing and battery cell operations, respectively.
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