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

vermaajay1968@gmail.com

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

Top Stories

Congress will take decision on CM face for Punjab after discussions with party workers: Rahul Gandhi

Congress will soon announce party's CM face in Punjab: Rahul Gandhi

'Both Sidhu and Channi are of the opinion that two cannot le...

Air India handed over to Tata Group

Tata Group takes over Air India

Group company chairman N Chandrasekaran meets PM Modi ahead ...

1984 anti-Sikh riots: HC asks SIT to respond to plea for action against Congress leader Kamal Nath

1984 anti-Sikh riots: HC asks SIT to respond to plea for action against Congress leader Kamal Nath

The case is related to a mob of rioters storming the Gurdwar...

Apex drug regulator grants conditional market approval to Covaxin and Covishield

Regular market approval granted for Covishield, Covaxin for use in adult population

The approval has been granted under the New Drugs and Clinic...

Chinese Army hands over missing Arunachal boy to Indian Army: Minister

Chinese Army hands over missing Arunachal boy to Indian Army: Minister

The 19-year-old Miram Taron of Jido Village in Upper Siang D...

Cities

View All