Ola is gaining support from top industry veterans with its serious efforts made to drive the EV industry. The company is collaborating with experts whose experience of building global businesses and understanding of emerging markets will be valuable to the brand. Moreover, Hero MotoCorp’s chairman Pawan Manjul in August 2019 was in advanced talks with Ola Electric to brace its operations.

As India’s leading mobility service provider, it has now received an investment of USD 1 million from the billionaire Munjal aligned to the previous discussions. The company is also eyeing to fund INR 10,000 crore in other mobility solutions too. Reports say that around 18 preference share is allotted by Pawan Munjal Family Trust, each at a premium of INR 39,87,608 and face value of INR 10.

In July 2019, Ola Electric also raised $250 million from Masayoshi Son’s SoftBank. The investment turned the company a “unicorn”, or a start-up valued at more than $1 billion. In March this year, Hyundai Motor Company (Hyundai) and Kia Motors Corporation said they will invest $300 million in Bengaluru-based Ola. The agreement will see the three companies extensively collaborate towards developing unique fleet and mobility solutions, building India-specific electric vehicles and infrastructure.

Ola Electric is currently running fleet of pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments. This investment has come handy in the time where India is trying to be serious about driving the EV sector to bring down the oil price and reduce pollution. With an intention to boost EV by 2020 the Govt is taking several measures in recent days.