Ola Electric raises US$200 million in fresh investment

In the latest round, Ola Electric was valued at US$5 billion.

Ola Electric has raised over US$200 million in a fresh round of investments from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others. In the latest round, the company was valued at US$5 billion.

Ola Electric has already launched its first EV in the Indian market. The S1 and S1 Pro e-scooters have been on sale since August 2021. However, the company has run into some production issues leading to delays in delivery.

The company has set up a manufacturing facility, dubbed as the "Futurefactory" in Tamil Nadu. It will be the world's largest 2-wheeler manufacturing facility when running at full capacity. The plant will employ 10,000 women.