Ola Electric to Raise Rs 2,000 Crore for Battery Arm Ola Cell Technologies Ola Electric, the electric two-wheeler maker, plans to raise up to Rs 2,000 crore by selling a minority stake in its battery arm, Ola Cell Technologies (OCT). The fundraising effort, which involves financial investors, comes as the company seeks to restructure operations, strengthen its balance sheet, and regain market share amid a decline in electric two-wheeler sales. The move is part of broader efforts to stabilize its business and position itself for long-term growth. Ola Cell Technologies, which operates India’s first gigafactory in Krishnagiri, Tamil Nadu, is central to the company’s strategy. The facility, with an initial investment of Rs 3,500 crore, has 1.5 GWh of operational capacity and aims to scale to 6 GWh by the end of the financial year. The gigafactory is a key step toward localizing battery cell manufacturing in India, reducing reliance on imports and supporting the development of a domestic electric vehicle (EV) supply chain. It also supports energy storage systems across industries beyond two-wheelers. The fundraising process is being managed by investment banks Avendus and Motilal Oswal. The stake sale is expected to determine the market valuation of OCT, a critical asset attracting interest from financial investors, including sovereign wealth funds. Ola Electric’s founder, Bhavish Aggarwal, has emphasized the company’s focus on battery innovation, stating that its vision is to integrate the entire energy storage supply chain. Ola’s restructuring efforts include layoffs of 5% of its workforce and a push for automation to build a "leaner organisation.#tamil_nadu #ola_electric #ola_cell_technologies #krishnagiri #avendus
