Decoding ₹33,522 Crores Business

Ola Electric

August 08, 2024 • Estimated Reading Time: 3 minutes

Company Overview

Ola Electric is an Indian electric vehicle (EV) manufacturer, a subsidiary of the ride-hailing giant Ola Cabs, which is operated by ANI Technologies Pvt. Ltd. Founded in 2017 by Bhavish Aggarwal, Ola Electric initially started as a project to reduce the dependence on fossil fuels and to build sustainable mobility solutions.

Company Profile

Founder - Bhavish Aggarwal

Founded in 2017

Sector - EV Sector

Market Share - 30-35%

Financial of Ola Electric

ANNUAL REVENUE

TOTAL FUNDING

PROFIT / LOSS

₹11,620 crores

FY 2024

₹5009 crores

₹506 crores

- ₹1,584 crores

FY 2023

₹2480 crores

₹3,170 crores

- ₹1,472 crores

FY 2022

₹373 crores

₹2,739 crores

- ₹784 crores

Investors of Ola Electric

Investors

SoftBank Vision Fund

Tiger Global Management

Matrix Partners India

Temasek Holdings

Hyundai Motor Company

Kia Motors

Arun Sarin (former CEO of Vodafone)

Falcon Edge Capital

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