Ola believes that Tata’s investment would not only bring money but also deep experience and mentorship to promote Ola’s endeavour at making electric mobility operational at scale. In March, Ola Electric has generated an investment of 57 million (INR 400 crore) from Tiger Global and Matrix India.
“The electric vehicle ecosystem is developing brilliantly every day and I trust Ola Electric will play a vital role in its development and growth,” says Ratan Tata.
Anand Shah, Head of Ola Electric, is attempting to develop an electric mobility ecosystem, which includes charging infrastructure, battery exchanging and other products. Several pilots have been running to establish electric vehicles and charging solutions.
One of the pilotprogrammes was launched with Mahindra & Mahindra Ltd. in Nagpur, Maharashtra. The project allowed Ola drivers to use electric vehicles. Nevertheless, the project flunked down because of the disappointing response from cab drivers, some of which even returned the vehicle.