Ola Electric Mobility has received board approval to raise up to ₹1,500 crore through a mix of equity shares and convertible securities, including warrants or similar instruments. The company said in a stock exchange filing that the fundraising may be executed via public issue, rights issue, qualified institutional placement (QIP), private placement, or any other permissible routes under regulatory norms.

The proposed capital infusion will be subject to shareholder approval. While Ola Electric has not explicitly stated the utilisation plan, the move is expected to strengthen its balance sheet and support ongoing business expansion across electric mobility and energy storage solutions.

Focus Shifts to Clean Energy

Over the past few months, Ola Electric has been steadily expanding its business scope beyond electric scooters and mobility. The company is now venturing into the clean energy ecosystem, signalling a broader ambition to become a holistic energy and technology enterprise.

Earlier this month, on October 16, the company unveiled Ola Shakti, a portable battery energy storage system (BESS) designed to provide flexible and scalable energy backup solutions. The launch marked Ola Electric’s formal entry into the energy storage segment, a move that aligns with India’s growing push towards renewable and sustainable energy solutions.

The newly introduced Ola Shakti BESS represents a major leap in Ola Electric’s innovation journey. It can be used across homes, industries, and grid-level applications, offering scalable storage capacity and supporting renewable integration into India’s power ecosystem.

By diversifying into battery energy storage, Ola Electric aims to play a crucial role in reducing dependence on fossil fuels while enabling efficient energy management. The company’s expansion into clean energy underscores its long-term vision to be at the forefront of India’s EV-to-energy transition.

Ola Electric Owner

Founded by Bhavish Aggarwal, who also serves as its CEO, Ola Electric is a subsidiary of the Ola Group, the parent company of the ride-hailing platform Ola Cabs. Under Aggarwal’s leadership, the company has evolved from being a two-wheeler EV manufacturer to an integrated EV and energy technology pioneer.

Aggarwal’s focus on indigenous innovation has driven the company to invest heavily in R&D, battery technology, and sustainable infrastructure. Ola Electric’s manufacturing hub in Tamil Nadu, touted as one of the world’s largest EV facilities, and its new push into energy storage reflect Aggarwal’s ambition to make India a global hub for green technology and electrification.

The decision to raise ₹1,500 crore comes at a time when Ola Electric is preparing for its Initial Public Offering (IPO) and seeking to enhance its capital base. Industry analysts view this fundraising as a strategic step to improve financial flexibility and fund upcoming product and technology launches.

The funds are also expected to support battery innovation, supply chain expansion, and charging infrastructure development, enabling Ola Electric to scale operations and strengthen its market leadership.

Expanding EV Ecosystem

Ola Electric’s journey from mobility to energy highlights the company’s determination to integrate sustainability across business verticals. With India’s electric vehicle market rapidly expanding, Ola Electric aims to capitalise on government incentives and policy tailwinds promoting energy transition and localised production.

As the company strengthens its manufacturing capabilities and enters adjacent sectors like battery storage, it is building a vertically integrated ecosystem that could define the next phase of India’s EV revolution.

With a strong product lineup, upcoming IPO, and focus on innovation, Ola Electric is positioned to shape India’s clean mobility and energy future. The ₹1,500 crore fundraising plan reaffirms its intent to balance financial discipline with technological advancement, ensuring long-term growth and sustainability.

As the company continues to explore new technologies like energy storage, battery swapping, and AI-based charging networks, Ola Electric is expected to set benchmarks not just in electric mobility but also in energy independence and innovation for the country.