Ratan Tata Capitalizes in Ola E-Mobility, Aimed at Increasing EVs in India

Ola Electric Mobility has announced that Ratan Tata, Chairman Emeritus of Tata Sons, has capitalized in the company as part of its Series A round of funding. His outlay in Ola Electric is projected to bring his deep experience and mentorship to the company’s ambitions to make electric mobility feasible at scale.

Mr. Tata’s outlay in Ola Electric is a substantial validation of the company’s attitude to developing an electric mobility ecosystem, comprising innovations in charging infrastructure, swapping models, and market-appropriate products. Ola Electric is presently running several pilots including charging solutions, battery swapping stations, and positioning vehicles across two, three and four-wheeler segments.

Speaking on his outlay, 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 believed, “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.”