Rs 3,200 crore raised by Ola Electric
Electric vehicle (EV) maker Ola Electric has raised Rs 3,200 crore from Temasek-led investors and the State Bank of India. The funds raised would be utilized towards the expansion of Ola's EV business and setting up India's first lithium-ion cell manufacturing facility at Krishnagiri, Tamil Nadu.
This comes as Ola aims to accelerate its growth by ramping up its two-wheeler manufacturing capacity, launching electric motorcycles followed by electric cars, and fast-tracking the construction of gigafactory.
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