Ola Electric

Ola Electric Mobility engaged in the development and production of EVs and core components including battery packs motors and vehicle frames through vertically integrated operations.(Source : 202503 Annual Report Page No: 187) Ola Electric Mobility Limited was incorporated as 'Ola Electric Mobility Private Limited' at Bengaluru, Karnataka as a private limited company dated February 3, 2017. Subsequently, the Company converted to a public limited company and the name of the Company was changed to 'Ola Electric Mobility Limited', vide a fresh certificate of incorporation dated November 17, 2023. The company is a pure EV player in India and is building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells. The company manufactures EVs and certain core EV components like battery packs, motors and vehicle frames at the Ola Futurefactory. The Company delivered 7 products nd additionally announced four new products since its first product announcement in August 2021. It commenced delivery of the first EV model, the Ola S1 Pro, in December 2021. This was followed by the delivery of the Ola S1 in September 2022, the Ola S1 Air in August 2023, the Ola S1 X+ in December 2023and the Ola S1 X (2 kWh), the Ola S1 X (3 kWh) and the Ola S1 X (4 kWh) inMay 2024. On August 15, 2023, it announced a line-up of motorcycles comprising four models, Diamondhead, Adventure, Roadster and Cruiser. The Company operate a direct-to-customer omnichannel distribution network across India, comprising 870 experience centres and 431 service centres as at March 31, 2024. The Company came up with a public issue by raising funds aggregating to Rs 6145.56 Crore issuing 808,699,624 equity shares of Rs 10 each, comprising a fresh issue of 723,757,627 equity shares amounting to Rs 5500 Crore and offer for sale of 645.56 crores by issuing 84,941,997 equity shares in August, 2024. In 2025, Company introduced the Gen 3 scooter platform. It launched Roadster X series, entering the electric motorcycle market. Company commissioned its state-of-the-art Gigafactory and commenced production of its indigenously developed Bharat Cell in 2025.