Ola is one of those few companies which is planning to get into the electric vehicle market as soon as possible. They even tried to be early in the market but failed miserably in Nagpur. There are certain things which the company needs to understand and Ola has done it all. Ola has been wonderful throughout its existence of the company whenever it comes to sustainability. There are not many companies who take that part of the world into consideration.
That said, Ola has found an excellent investor and a mentor in one of the leading industrialists in India. Ratan Tata, has been a long time backer of Ola but has invested in the electric business in India for the first time. He has invested an undisclosed amount but Bhavish Agarwal was extremely happy with the investment while they also get a mentor in Ratan Tata who has shaped India in a way it is through its industries.
Tata has always been a man with a keen eye on business. Apart from this, Ola has always been a company with strong people behind it and Ratan Tata, a man of his stature being the mentor will always help the company in being what it is today. Tata said that electric vehicles is going to be a market for everyone in a year or two’s time. This is the reason he invested in the company. Also, the strong connection between him and Bhavish Agarwal sparked the investing saga.
Bhavish Agarwal has been known to carry the mantel of the Indian startups and is known for his relationship with major industrialists in India. The fact that Ola is backed by many angel investors as well as firms which believe in the Indian startup is enough to know the same. Electric car market in India is not that huge but Ola Cab, a company that has done thorough research in the market has let off two of its most illustrated executives to lead the electric car project.
Bhavish Agarwal tweeted that he and Ola Cab were privileged for an investment in Ola Electric. The company will also look for his guidance. Agarwal also talked about planning to launch about million electric vehicles in India by the year 2021. This will take some work but it might just happen,
“We are privileged to have @RNTata2000 as an investor in Ola Electric. We look forward to his guidance and support, as we work towards our mission to bring a million electric vehicles on Indian roads by 2021. @Olacabs More here: http://bit.ly/RNTOla.”