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Ratan Tata, chairman of Tata Sons, and an early backer of Ola, has invested an undisclosed amount in Ola Electric Mobility Pvt Ltd (Ola Electric).
Khaitan & Co acted for Ola Electric and the team was led by Partners Sharad Moudgal and Rishabh Bharadwaj along with Associate Anurag Singh.
Ratan Tata was represented by his in-house team.
Ola Electric Mobility Pvt Ltd raised a sum of INR 400 crores led by several of Ola’s early investors, Tiger Global and Matrix India and others, as part of its first round of investment. The company was initially established to enable Ola’s electric mobility pilot program in Nagpur. In 2018, Ola subsequently announced ‘Mission: Electric’ to bring 1 million Electric Vehicles on Indian roads by 2021.
Read Ola Release here.