Ola Electric raises $200 Mn at over $5 Bn valuation

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Ola Electric has raised about $200 Mn from a clutch of investors in a fresh funding round, valuing the electric vehicle maker at over $5 Bn , according to sources. The latest round saw participation from existing investors and some US-based Blue Chip tech funds, the sources said.

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The fresh funding will help Ola Electric to accelerate vehicle development across its range of scooters, including mass-market scooters, motorbikes, four-wheelers, and other vehicle form factors.Ola Electric had claimed that its plant when fully completed would have an annual capacity of one crore units, "that is 15 percent of the world's entire total two-wheeler production."

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