India: Ola Electric board approves INR 2,000 crore investment in EV, cell units

Ola Electric Mobility's board approved an INR 2,000 crore capital infusion into its wholly owned subsidiaries Ola Electric Technologies (OET) and Ola Cell Technologies (OCT) to strengthen its EV and battery manufacturing ecosystem amid rising competition and India's localisation push. The company will invest INR 1,500 crore in OET and INR 500 crore in OCT through compulsory convertible preference shares. The transaction is expected to be completed by 14 May'27. OET reported FY'25 turnover of INR 4,717 crore, while OCT posted INR 73 crore revenue.