Ola Electric plans to invest Rs 2000 crores in battery and EV business
Electric Vehicle (EV) maker Ola Electric Mobility will invest Rs 2,000 crores in business expansion. The firm's board has approved the investment in the wholly owned subsidiaries focused on electric vehicles and battery cell manufacturing.
Out of the total outlay, Rs 1,500 crores will be invested in Ola Electric Technologies, which is engaged in electric vehicle manufacturing and services. The remaining Rs 500 crores will be invested in Ola Cell Technologies, which manufactures and distributes battery cells.
Also Read: EV maker Ultraviolette to set up new production facility in Karnataka