Ola Electric to receive an investment of US$ 300 million

The latest round of funding will be managed by Goldman Sachs.

According to a media report, Ola Electric is set to receive an investment of US$ 300 million. These funds will help the company expand its operations in India.

Reports also suggest that the fresh investment will come from existing and marquee global investors and sovereign funds. The latest round of funding will be managed by Goldman Sachs. 

Ola Electric currently offers three variants of the S1 e-scooter: the S1 Air, S1 and S1 Pro. The company plans to expand its product portfolio with the introduction of new 2-wheelers. It also aims to enter the 4-wheeler EV segment in the future.

Ola Electric is setting up what is said to be the world’s largest EV hub in Krishnagiri, Tamil Nadu. It will house a 4-wheeler factory, cell manufacturing and supplier ecosystem. 

Source: ET Auto