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Electric vehicle maker Ola Electric is planning to raise up to ₹2,000 crore to strengthen its battery manufacturing subsidiary, Ola Cell Technologies. The fundraising is expected to take place through a stake sale in the battery arm as the company looks to accelerate its efforts in building a domestic battery ecosystem.
According to reports, the capital infusion will support the development and scaling of advanced lithium-ion battery cells used in electric vehicles. The move aligns with Ola Electric’s strategy to localise battery production and reduce dependence on imported components, a key step for India’s growing EV industry.
Industry sources indicate that the company has begun discussions with potential investors and financial partners for the proposed fundraise. The funds are likely to be used to expand production capacity, improve battery technology, and strengthen research and development at Ola Cell Technologies.
The initiative also comes as the EV maker works to improve its financial position and reinforce its long-term growth plans in the clean mobility sector. Analysts say investing heavily in battery manufacturing could help Ola Electric gain greater control over its supply chain and reduce costs in the long run.
Ola Electric has been actively investing in battery technology as part of its broader ambition to build an integrated EV ecosystem in India, including vehicles, battery cells, and energy storage solutions. The proposed fundraising is expected to play a key role in advancing those ambitions while boosting the company’s competitiveness in the rapidly expanding electric mobility market.
