Ola Electric Mobility, the electric vehicle arm of Ola, has secured over Rs 1,725 crore ($250 million) in a Series B funding round from SoftBank. Earlier, in March as as part of Series A funding, Ola Electric had announced raising Rs 400 crore from investors led by Tiger Global and Matrix India. Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and is deploying vehicles across the two- three- and four-wheeler segments. Ola Electric was initially established to enable Ola's electric mobility pilot programme in Nagpur. In 2018, Ola announced “Mission: Electric” to bring 1 million electric vehicles on Indian roads by 2021.

Source: The Telegraph July 02, 2019 19:18 UTC