Ola's electric vehicle (EV) division, Ola Electric, raised over $200 million led by Falcon Edge, Softbank and others, at a valuation of $3 billion.
The startup aims to accelerate the development of other vehicle platforms, including electric motorbikes, mass-market scooters, and electric cars. The company stated the announcement will further strengthen Ola’s “Mission Electric” — which urges the industry and consumers to commit to EVs, and ensure that no petrol two-wheelers should be sold in India after 2025.
