Ola Electric to sell stake in Ola Cell Technologies
Analysis based on 10 articles · First reported Mar 16, 2026 · Last updated Mar 16, 2026
The stake sale in Ola Electric===Ola Cell Technologies is expected to attract significant financial investment, boosting the electric vehicle and battery manufacturing sectors in India. This move will also help establish a market valuation for a crucial battery infrastructure asset, potentially increasing investor confidence in domestic EV supply chains.
Ola Electric has initiated plans to raise up to ₹2,000 crore by selling a stake in its battery manufacturing arm, Ola Electric===Ola Cell Technologies (OCT). This fundraising effort aims to strengthen Ola Electric's balance sheet, restructure operations, and support its business turnaround. OCT operates a lithium-ion cell manufacturing plant in Tamil Nadu with an operational capacity of 1.5 GWh, with plans to expand to 6 GWh by the end of the current financial year. Investment banks Avendus Capital and Motilal Oswal Financial Services have been mandated to manage the fundraising process. The gigafactory, established with an initial investment of ₹3,500 crore, is crucial for localizing battery cell production in India, reducing dependence on imports, and building a domestic EV supply chain. The plant will also support energy storage products beyond the two-wheeler market, aligning with India's renewable energy goals.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard