Ratan Tata invests in Ola Electric Mobility

New Delhi: Ride hailing major Ola on Monday said Ratan Tata, chairman emeritus of Tata Sons, has invested in its EV business — Ola Electric Mobility (OEM). This investment, which is part of OEM’s series A round of funding, is in Tata’s personal capacity, it said.

Ratan Tata invests in Ola Electric Mobility

File photo

New Delhi: Ride hailing major Ola on Monday said Ratan Tata, chairman emeritus of Tata Sons, has invested in its EV business — Ola Electric Mobility (OEM). This investment, which is part of OEM’s series A round of funding, is in Tata’s personal capacity, it said. Details of the funding were not disclosed. “His investment in OEM will bring his deep experience and mentorship to the company’s ambitions to make electric mobility viable at scale,” it added. Tata is also an early investor in ANI Technologies, Ola’s parent company. He had invested in ANI Technologies in July 2015. In March this year, OEM had announced raising Rs 400 crore in a funding round led by 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,” Tata said. PTI

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