Ola Electric now valued at $3B

Ola's electric vehicle (EV) division, Ola Electric, raised over $200 million led by Falcon Edge, SoftBank, and others, at a valuation of $3 billion.
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Ola's electric vehicle (EV) division, Ola Electric, raised over $200 million led by Falcon Edge, SoftBank, and others, at a valuation of $3 billion.

The EV unicorn aims to accelerate the development of other vehicle platforms, including electric motorbikes, mass-market scooters, and electric cars. 

This announcement will further strengthen Ola’s “Mission Electric”, which urges the industry and consumers to commit to EVs and ensure that no petrol two-wheelers should be sold in India after 2025, the company said. 

The fund raise comes at a time when Ola has already set the benchmark in two-wheeler EV sales by selling over $150 million worth of scooters in its first purchase window — outselling the entire two-wheeler industry on each of the two days.

It had opened the pre-launch bookings of its electric scooters — S1 and S1 Pro — in July for Rs 499, and received 1 lakh orders in just 24 hours.

Ola Electric has built its Futurefactory, the largest and one of the most advanced two-wheeler factories in the world that completed its Phase I construction and is currently undergoing production trials. 

In fact, Ola Futurefactory is also the world’s largest factory entirely run by women. At full scale, it will have over 10,000 women employed.


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News & Updates


Before you go, stay inspired with… 

Bhavish Aggarwal, Co-founder and CEO, Ola

“We’re proud to lead the EV revolution from India to the world.”

Bhavish Aggarwal, Chairman and Group CEO, Ola


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