Ola Electric Mobility , a prominent player in India's electric vehicle (EV) market, has marked a significant milestone in its journey towards technological self-reliance. The company has become the first in India to receive government approval for its indigenously developed ferrite motor, a crucial component in electric vehicles.

Breakthrough in EV Technology

This approval represents a major leap forward for Ola Electric, showcasing the company's growing capabilities in EV manufacturing and technological innovation. The development of an in-house ferrite motor is particularly noteworthy for several reasons:

1. Technological Independence: By developing its own motor, Ola Electric reduces dependency on external suppliers, potentially leading to better control over production and costs.

2. Innovation Leadership: This achievement positions Ola Electric at the forefront of EV innovation in India, potentially setting new industry standards.

3. Boost to 'Make in India': The approval aligns with the government's push for local manufacturing and technological self-reliance in critical sectors.

Implications for the EV Industry

The government's approval of Ola Electric's ferrite motor could have far-reaching effects on the Indian EV landscape:

• Competitive Edge: Ola Electric may gain a significant advantage in the domestic EV market with this proprietary technology.
• Supply Chain Localization: This development could encourage further localization of EV component manufacturing in India.
• Industry Benchmark: Other EV manufacturers might be motivated to accelerate their R&D efforts in motor technology.

As the electric vehicle market in India continues to evolve rapidly, Ola Electric's achievement in motor development marks a significant step towards establishing India as a hub for EV innovation and manufacturing. This approval not only validates the company's technological capabilities but also reinforces the country's potential in the global EV ecosystem.

Ola Electric Mobility Limited , a leading player in the electric vehicle industry, has announced a significant financial move through its subsidiary, Ola Electric Technologies Private Limited (OET). The company's board has approved a substantial fundraising initiative, marking a pivotal moment in its growth strategy.

Fundraising Details

OET, a material wholly-owned subsidiary of Ola Electric Mobility Limited, has received approval to raise ₹877.64 crore through the issuance of Series A Optionally Convertible Redeemable Preference Shares (OCRPS). The fundraising involves the following key points:

• Issue Size: 87.76 crore OCRPS
• Face Value: ₹10 per share
• Total Fundraising: ₹877.64 crore
• Investor: Ola Cell Technologies Private Limited (OCT), another material wholly-owned subsidiary of Ola Electric Mobility Limited

Terms of the OCRPS

According to the LODR data, the OCRPS come with specific terms:

• Type: Non-cumulative and non-participating
• Dividend Rate: 0.001%
• Issuance Method: Preferential allotment through private placement
• Tranches: To be issued in one or more tranches

Corporate Approvals and Timeline

The fundraising initiative has received necessary corporate approvals:

• Board Approval: Obtained on September 30, 2025
• Shareholder Approval: Secured at the Extraordinary General Meeting held on September 30, 2025
• Previous Shareholder Approval: The move aligns with the approval for variation of IPO proceeds utilization, granted at the Annual General Meeting on August 22, 2025

Strategic Implications

This fundraising effort represents a strategic move for Ola Electric Mobility Limited:

1. Intra-group Funding: The transaction involves fund transfer between two wholly-owned subsidiaries, potentially optimizing the group's capital structure.
2. Growth Capital: The raised funds are likely to support OET's operational expansion and technological advancements in the electric vehicle sector.
3. Financial Flexibility: The optionally convertible nature of the OCRPS provides financial flexibility to the company.

Market Impact

While the immediate market reaction remains to be seen, this substantial fundraising could be viewed positively by investors, potentially reflecting the company's ambitious growth plans and the confidence of its parent organization in its future prospects.

Ola Electric Mobility Limited continues to make strides in the electric vehicle market, and this latest financial move underscores its commitment to strengthening its position in the industry. Investors and market watchers will likely keep a close eye on how these funds are utilized to drive innovation and expansion in the coming months.