Ola Electric Mobility has recently announced that Mr Ratan Tata, Chairman of Tata Sons, has invested in their company as part of the Series A round of funding, as Ratan Tata is familiar with the company and had already invested in ANI Technologies Pvt Ltd, which is Ola’s parent company. Global business icon, Mr Ratan Tata, also known for his vision and tough spirit is one of the most respected Indian personalities, globally. His contribution to the innovation, growth, and international reach of Tata Motors is the primary reason why his investment in Ola Electric will convert the company’s ambitions into reality.
Ratan Tata’s investment in Ola Electric is significant to the company’s approach in developing an electric mobility ecosystem, which includes innovations like charging infrastructure, swapping models, and market-appropriate products. Ola Electric is currently conducting trial runs for charging solutions, battery swapping stations, and is also deploying vehicles across various two, three and four-wheeler segments. The company is also developing solutions to make Electric Mobility much more viable on a larger scale, enabling more clean kilometres on Indian roads. Ola Electric Pvt Ltd is supported by several global investors including Ola, which is one of India’s leading mobile platform ride-hailing company.
Speaking on his investment, Mr Ratan Tata, said, “The electric vehicle ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development. I have always admired the vision of Bhavish Aggarwal and I’m confident that this will be part of yet another important strategic move into this new business area.”
Bhavish Aggarwal, Co-founder & CEO, Ola said, “Mr Tata has been an inspiration and a mentor to me personally in shaping Ola’s journey over the years. I’m very excited to welcome him on board Ola Electric as an investor and a mentor in our mission of building sustainable mobility for everyone on our planet. He is a visionary who has inspired a generation of entrepreneurs and we are privileged to have his guidance and support once again, as we work towards our goal of a million electric vehicles in India by 2021.”