Ola Electric to Invest $920 Million into Indian Battery and EV Production
Indian scooter manufacturer Ola Electric has announced plans to invest $920m (Rs 76.14bn) in the southern state of Tamil Nadu for the manufacture of batteries and electric vehicles (EVs).
The group, backed by Japanese investor SoftBank, is a subsidiary of Ola, an Indian ride hailing company. The investment will be shared between Ola Electric and Ola Cell Technologies, which manufactures batteries.
Photo courtesy of Finnrich.
Source: Mining Technology (link opens in a new window)