Ratan Tata Invests In Ola Electric Mobility

Mumbai: Ratan Tata, the Chairman Emeritus of Tata Sons, has invested in domestic ride-sharing company Ola's newly-launched electric vehicle (EV) arm Ola Electric Mobility Pvt Ltd (OEMPL) as part of its Series A round of funding, the cab aggregator announced on Monday.

A leading investor in startups, Tata was also an early investor in Ola's parent company ANI Technologies Pvt Ltd.

“The electric vehicle ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development. I have always admired the vision of Bhavish Aggarwal and I'm confident that this will be part of yet another important strategic move into this new business area,” Tata said in a statement.

OEMPL is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments.

“Mr Tata has been an inspiration and a mentor to me personally in shaping Ola's journey over the years. I'm very excited to welcome him on board Ola Electric as an investor and a mentor in our mission of building sustainable mobility for everyone on our planet,” said Bhavish Aggarwal, Co-founder and CEO, Ola.

“He is a visionary who has inspired a generation of entrepreneurs and we are privileged to have his guidance and support once again, as we work towards our goal of a million electric vehicles in India by 2021.” (IANS)

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