Ola India Raises $56 Million for Its Dedicated Electric Mobility Unit

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Ola India Funding

Ola, an Indian ride-sharing company, announced a founding of $56.4 million led by several of Ola’s early investors. The company will use this funding to push its Electric Mobility unit pan India.

Ola India

According to Ola, they have planned to put 1M electric vehicles on Indian roads by 2022. In order to achieve this number, the company is currently running several pilots to deploy electric vehicles and charging solutions, including battery swapping stations, electric 2-wheeler and 3-wheeler services.

The company also stated –

                “At Ola Electric, our mission is to enable sustainable mobility for everyone. India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity, and lead the world.”

The mobility platform has partnered with OEMs and battery manufacturers, and the company intends to work closely with the automotive industry to create seamless solutions for electric vehicle operations.

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