EV maker Ola Electric has announced that it has raised $200 million led by Falcon Edge, SoftBank and others. The company has received this investment at a valuation of $3 billion. Ola Electric aims to accelerate the development of other vehicle platforms including electric motorbikes, mass-market scooters and electric cars.
Ola Electric said this announcement will further strengthen Ola’s ‘Mission Electric’ which urges the industry and consumers to commit to EVs, and ensure that no petrol two-wheelers are sold in India after 2025 Must go Bhavish Aggarwal, Chairman and Group CEO, Ola said, “We are proud to lead the EV revolution from India to the world. India has the talent and capability to create future technologies for future industries for the whole world.Bhavish Aggarwal said, “I thank our existing investors and welcome new investors to Ola. Together, we will bring mobility to a billion and bring stability in the future. Describing Ola’s mobility vision in a blog, he said that the company is creating a new ecosystem with customers at the center.
Coming to the startup, Ola Electric has built its FutureFactory, one of the largest and most advanced 2W factories in the world, which has completed its first phase of construction and is currently undergoing production trials. Ola Futurefactory is also the world’s largest factory which is run entirely by women.