Ola Electric raises over Rs 3,000 crore from Temasek, SBI and others
Ola Electric, one of India’s largest electric vehicle maker has raised around Rs 3,200 crore funding as a part of its equity and debt round raised from Temasek-led marquee investors and project debt from State Bank of India respectively.
The funds will be utilised towards expansion of Ola’s EV business and setting up India’s first lithium-ion cell manufacturing facility in Krishnagiri, Tamil Nadu. Ola Electric says it aims to accelerate its growth by ramping up its two-wheeler manufacturing capacity, launching electric motorcycles followed by electric cars and fast-tracking the construction of Gigafactory.
