Ola Electric’s recent funding of $200 million comes from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others, which has additional elevated the corporate’s analysis at $5 billion.
View PhotosOla Electric beforehand raised an identical worth in September final 12 months
Ola Electric has introduced a recent funding of $200 million (approx. ₹ 1490 crore) from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others. The firm says the recent spherical of funding values ​​the corporate at $5 billion. The electrical two-wheeler had beforehand raised an identical quantity from Falcon Edge, Softbank and others in September final 12 months. At the time, the corporate was valued at $3 billion. Over the final couple of months, the corporate launched its S1 Pro electrical scooter available in the market, commenced manufacturing and deliveries of the identical to prospects.
Also Read: Ola Electric CEO Announces ‘Free Upgrade’ For Ola S1 Customers
The 500-acre Ola Electric facility guarantees to have an all-women workforce of 10,000 when operations start in full swing
Speaking on the event, Bhavish Aggarwal, Founder & CEO, Ola mentioned “Ola Electric is creating India’s EV revolution and is driving cutting edge manufacturing from India for the entire world. With Ola S1, the best scooter ever made, we’ve changed the The entire scooter industry and are now looking forward to bringing our innovative products to more two-wheeler categories including bikes as well as cars. I thank the investors for their support and look forward to partnering with them to take the EV revolution from India to the world “
Ola Electric’s Futurefactory in Tamil Nadu guarantees to be the world’s largest e-scooter manufacturing unit with an put in manufacturing capability of 10 million scooters each year. The facility will make use of over 10,000 girls at full capability and also will be the world’s largest women-only automotive manufacturing facility.
Also Read: Reliance, Ola Electric, Mahindra Bid For Incentives Under India’s $2.4 Billion Battery Scheme
The Ola S1 Pro scooters had been not too long ago dispatched to prospects pan India
Ola Electric follows a direct to client mannequin with totally digital buy coupled with residence take a look at rides, doorstep supply and after-sales service. The firm although noticed its share of hiccups within the preliminary phases with manufacturing delays that pushed supply dates as nicely. The firm not too long ago opened its closing buy window for purchasers who had reserved the scooter final 12 months.
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With inputs from NDTV
