OLA Electric

According to a media report quoting a source, Z47 earned 7–10 times its Rs 107 crore investment after fully exiting Ola Electric.

According to stock exchange filings, the stake sale happened through multiple open-market deals between July 15 and September 2. The sale on September 2 crossed SEBI’s 2% disclosure threshold.

At Sankalp 2025, Ola Electric unveiled its new S1 Pro Sport scooter lineup, with deliveries starting January next year. It also launched MoveOS 6, an AI-powered operating system and introduced its Gen 4 modular platform that will power upcoming two, three, and four-wheelers.

Ola Electric Mobility reported a 23% increase in net loss to ₹428 crore in the first quarter ending June 30, 2025, compared to the same period last year.

Additionally, Kia Corporation, another South Korean automaker, sold about 2.71 crore shares of Ola Electric on the same day through an open market transaction.

The company said in a filing that the funds may be raised in one or more phases or through multiple issuances. This move comes at a time when the company is dealing with more regulatory pressure and financial difficulties.

Ola Electric, the electric vehicle company, will held a board meeting on Thursday to decide on raising funding by issuing non-convertible debentures (NCDs) or other securities in one or more rounds.

The Bhavish Aggarwal-led company plans to use the funds to meet OCT’s business needs.

Ola Electric Technologies Private Ltd has been approved for an incentive payment of ₹73.74 crore under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components for FY24, according to a filing by Ola Electric Mobility Limited. 

The upcoming layoffs could affect more than a quarter of Ola’s workforce, which had 4,000 employees in March 2024. Recently, Ola Electric reported a 50% increase in losses for the December quarter.