Bengaluru-based two-wheeler manufacturer Ola Electric Mobility Limited has announced an investment in Ola Electric Technologies Private Limited (OET) and Ola Cell Technologies Private Ltd (OCT), which are wholly owned subsidiaries of the company.
The company plans to invest ₹2,000 crore in its wholly owned subsidiaries engaged in electric vehicles and battery cell manufacturing to expand operations and further strengthen its EV ecosystem.
Capital allocation
Of the planned investment, ₹500 crore will be infused into Ola Cell Technologies for battery cell manufacturing and distribution, while ₹1,500 crore will go towards Ola Electric Technologies, which handles electric vehicle manufacturing and related services across the EV value chain.
OCT is crucial for producing in-house cells, reducing dependence on imports, and supporting Gen-3 vehicle platforms. It is engaged in the business of manufacturing, processing, assembling, exporting, selling, repairing, and distributing batteries/cells.
