Ratan Tata, Chairman Emeritus, Tata Sons has invested an undisclosed amount in Ola Electric Mobility in series A round of funding. In 2018, Ola subsequently announced ‘Mission: Electric’ to bring 1 million Electric Vehicles on Indian roads by 2021. Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three, and four-wheeler segments. Prior to Ratan Tata, Ola Electric Mobility has raised a total of INR 400 Cr from its existing investors including Tiger Global and Matrix India among others. Recently, Ola raised $300 Mn fund from Hyundai. As part of the deal, Hyundai plans to introduce its electric vehicles in the cab fleet of Indian ride-hailing company Ola by 2021.
