Ola Electric Mobility Limited has approved a total investment of ₹2,000 crore in its wholly owned subsidiaries, Ola Electric Technologies Private Limited (OET) and Ola Cell Technologies Private Limited (OCT), to support their business operations and expansion plans.
The decision was taken during the company’s Board of Directors meeting held on May 15, 2026. The investment will be made through cash consideration in the form of Compulsorily Convertible Preference Shares (CCPS), with ₹1,500 crore allocated to OET and ₹500 crore to OCT.
The proposed investment aims to strengthen the operational capabilities of both subsidiaries. OET, which operates across the electric vehicle value chain including manufacturing and supply of EVs, reported a turnover of ₹4,717.48 crore in FY 2024–25. Meanwhile, OCT, focused on battery and cell manufacturing, recorded a turnover of ₹73 crore during the same period.
Both entities will continue to remain wholly owned subsidiaries of the company post-investment, with Ola Electric retaining 100% ownership and control, directly or indirectly. The transactions are classified as related party transactions but are being conducted on an arm’s length basis, with no promoter or promoter group interest involved.
The investment is expected to be completed on or before May 14, 2027. No regulatory approvals are required for the transaction.
OCT, incorporated on July 5, 2022, operates in the battery manufacturing segment and has demonstrated rapid growth, with turnover increasing from ₹0.02 crore in FY 2022–23 to ₹73 crore in FY 2024–25. OET, incorporated on January 6, 2021, has established a strong presence in the EV ecosystem, with turnover rising from ₹2,625.52 crore in FY 2022–23 to ₹5,149.02 crore in FY 2023–24 before moderating slightly in FY 2024–25.
The company stated that the fund infusion will primarily support business requirements of both subsidiaries as part of its broader strategy to scale its electric mobility and battery manufacturing capabilities in India.
