Ola Electric To Infuse INR 199 Cr In Battery Manufacturing Arm

Ola Cell Technologies plans to utilise the fresh proceeds to support its business requirements

This comes nearly a month after Ola Electric received a notice from the MHI for failure to meet its targets under the PLI scheme for advanced chemistry cells

Ola Electric’s board also greenlit a proposal to convert outstanding payables worth INR 250 Cr of material subsidiary OET into 25 Cr preference shares of INR 10 each

EV maker Ola Electric’s board has approved an infusion of INR 199 Cr in its battery manufacturing…