Ratan Tata invests in Ola. Ratan Tata, Chairman Emeritus, Tata Sons, has pumped in money into ride hailing company Ola's electric vehicle division Ola Electric Mobility (OEM). The investment, is part of Ola Electric Mobility's series A round of funding, comes as Ratan Tata's personal financing in the company.
Ola believes that the new investment in Ola Electric will bring Rata Tata's experience and mentorship to the company's ambitions to make electric mobility viable at scale. It may also be noted that Tata is an early investor in ANI Technologies, Ola's parent company too, when he had invested in ANI Technologies in July 2015.
Ola Electric Mobility , according to the report, had in March this year announced that it would look to raise Rs 400 crore in a funding round led by Tiger Global and Matrix India. Ola Electric is currently running pilot projects involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments.
Ola Electric stands to play a key role in its growth and development. Ola had in 2018 announced Mission: Electric' to bring 1 million electric vehicles on Indian roads by 2021.
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