Ola Electric

Ola Electric Mobility Limited is an Indian electric vehicle manufacturer headquartered in Bengaluru. Founded in 2017 by Bhavish Aggarwal, the company designs and manufactures electric two-wheelers, including the Ola S1 in three variants named Ola S1 Air, Ola S1X and S1 Pro. It has its manufacturing facility located in Krishnagiri, Tamil Nadu.

The company also produces battery cells at its manufacturing facility in Tamil Nadu, which supplies energy storage solutions for its vehicles and other applications. As of 2023, the company led the electric scooter market in India, with a 30% share. It also plans to launch its electric motorcycle models in 2025.

Ola Electric was established in 2017 as a wholly owned subsidiary of ANI Technologies, the parent entity of Ola Cabs. The company was started to reduce emission and fuel dependency of Ola's cabs, and shift to mass electric mobility; a pilot program was launched in Nagpur in May 2017 by setting up charging stations across the city and procuring electric cabs, e-buses, and e-rickshaws from OEM partners. In April 2018, it announced that it aims to have 1 million electric vehicles in its cab service by 2022.

Between December 2018 and January 2019, founder Bhavish Aggarwal bought a 92.5% stake in Ola Electric from ANI Technologies at a valuation of ₹1 lakh (about US$1,400 then), and Ola Electric was spun-off as a separate entity. ANI Technologies continued to hold a 7.5% stake in Ola Electric for allowing the use of "Ola" brand name.

In February 2019, Ola Electric raised US$56 million from Tiger Global and Matrix India. The company announced on 6 May 2019 that Ratan Tata had invested an undisclosed amount in Ola Electric as part of its Series A round of funding. It raised $250 million from SoftBank during Series B round funding in July 2019, at a valuation of over $1 billion.

In May 2020, Ola Electric acquired Etergo, an Amsterdam-based crowdfunded electric scooter manufacturer, for €3.75 million in a distress sale. Ola Electric announced that it would launch its own line of electric scooters in India by 2021.

In December 2020, the company announced its plan to set up the world's largest two wheeler factory (called the Future Factory) in Tamil Nadu at a cost of ₹2,400 crore (US$323.89 million) after signing a memorandum with the Government of Tamil Nadu. It acquired a 500-acre land in Pochampalli, Krishnagiri District in January 2021; the construction work for the factory began in late February.

Ola Electric received 500,000 bookings for scooters in the first month of availability.