Ola Electric Mobility Limited has approved a combined ₹2,000 crore fund infusion into two of its wholly-owned subsidiaries — Ola Cell Technologies Private Limited and Ola Electric Technologies Private Limited — through a board meeting held on May 15, 2026, in a move that signals a significant acceleration of capital deployment across its battery manufacturing and electric vehicle value-chain operations.
The board approved an investment of ₹500 crore in Ola Cell Technologies Private Limited, structured as 50 crore Compulsory Convertible Preference Shares of ₹10 each at par. Simultaneously, it approved an investment of ₹1,500 crore in Ola Electric Technologies Private Limited, structured as 150 crore Compulsory Convertible Preference Shares of ₹10 each at par. Both investments are cash consideration transactions, classified as related party transactions given that both entities are wholly-owned subsidiaries of the listed company, and both are on an arm’s length basis. Neither the promoter nor the promoter group has any separate interest in the transactions. Both investments are to be completed on or before May 14, 2027, with Ola Electric retaining 100% control over both subsidiaries post-infusion.
Ola Cell Technologies, incorporated on July 5, 2022, is engaged in the manufacturing, processing, assembling, export, selling, and distribution of batteries and cells — Ola Electric’s in-house cell manufacturing arm that is central to the company’s strategy of reducing dependence on imported battery packs. OCT’s turnover has grown from ₹0.02 crore in FY23 to ₹3.97 crore in FY24 and ₹73 crore in FY25 — still early-stage but accelerating sharply as the Gigafactory ramps. The ₹500 crore infusion is intended to fund its business requirements as it scales toward commercial cell production.
Ola Electric Technologies Private Limited, incorporated on January 6, 2021, provides services across the electric vehicles value-chain and manufactures and supplies electric vehicles. OET is the larger of the two entities by revenue — with turnover of ₹2,625.52 crore in FY23, rising to ₹5,149.02 crore in FY24 before contracting to ₹4,717.48 crore in FY25. The ₹1,500 crore infusion into OET reflects the scale of capital required to sustain EV manufacturing and technology development operations through what has been a period of operational recalibration for Ola Electric.
The timing of the announcement is noteworthy. May 15 is the day India implemented its first petrol and diesel price hike in four years — raising petrol by ₹3 per litre to ₹97.77 in Delhi and above ₹106 in Mumbai and Bengaluru — with further hikes expected given that OMCs need ₹10-15 per litre to break even at current crude levels. As petrol approaches ₹100-110 per litre across major Indian cities and the prospect of sustained elevated fuel costs becomes increasingly real in the context of the West Asia crisis and Hormuz closure, the total cost of ownership calculus for electric two-wheelers shifts further in Ola’s favour. Capital deployment into battery cell manufacturing and EV technology infrastructure at this moment reflects a management view that the demand environment for EVs is about to become structurally more favourable than it has been at any point since the company’s listing.
The board meeting commenced at 1:00 PM IST and concluded at 1:22 PM IST. The disclosure was filed under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered financial advisor before making investment decisions.