Ola Electric on Thursday said it has raised over $200 million (about Rs 1,484.7 crore) in funding from Falcon Edge, SoftBank and others, valuing the electric vehicle maker at $3 billion (about Rs 22,272 crore).
Ola will accelerate the development of other vehicle platforms, including electric motorbike, mass market scooter and its electric car, a statement said.
The funding will further strengthen Ola’s ‘Mission Electric’ that urges the industry and consumers to commit to electric and ensure that no petrol two-wheeler is sold in India after 2025, it added.
“We’re proud to lead the EV revolution from India to the world. India has the talent and the capability to build technologies of the future for the industries of the future for the entire world. I thank our existing investors and welcome new ones to Ola,” Ola chairman and group CEO Bhavish Aggarwal said.
In July, Ola Electric had announced signing a $100 million (about Rs 744.5 crore) 10 year-term debt financing agreement with BoB.
