Bengaluru: Ratan Tata has invested an undisclosed amount in Ola Electric Mobility, the cab-hailing firm’s electric vehicle arm, said the company today. Previously, Ola Electric received an infusion of ₹400 crore from Ola’s early backers Tiger Global and Matrix India. “The electric vehicle ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development," said Tata, chairman emeritus of Tata Sons. Ola Electric is attempting to develop an electric mobility ecosystem, including a charging infrastructure, swapping models, and other products. Ola Electric was initially established to enable Ola’s electric mobility pilot program in Nagpur.

Source: Mint May 06, 2019 06:22 UTC