The company was incorporated as ‘Ola Electric Mobility Private Limited’ at Bengaluru, Karnataka as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated February 3, 2017, issued by the Registrar of Companies, Central Registration Centre. Subsequently, the company was converted to a public limited company and the name of the company changed to ‘Ola Electric Mobility Limited’ pursuant to a Shareholders’ resolution dated October 5, 2023 and a fresh certificate of incorporation dated November 17, 2023 was issued by the Registrar of Companies, Karnataka at Bengaluru (RoC).

The company is a pure EV player in India and is building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells. It manufactures EVs and certain core EV components like battery packs, motors and vehicle frames at the Ola Futurefactory. Its business focuses on capturing the opportunity arising out of electrification of mobility in India and it also seek opportunities to export its EVs in select international markets in the future. 

Research and development (R&D) and technology is at the core of the company’s business model with a focus on in-house product innovation. It undertakes R&D activities in India, the United Kingdom (UK) and the United States (US) focused on designing and developing new EV products and core EV components, such as battery packs, motors and vehicle frames. It is in the process of building its EV hub in Krishnagiri and Dharmapuri districts in Tamil Nadu, India, which includes its Ola Futurefactory, its upcoming Ola Gigafactory and co-located suppliers in Krishnagiri district. At its Ola Futurefactory, it manufactures its EV scooters using certain EV components manufactured in-house and other components procured from third parties, such as cells. In addition, it operates a BIC in Bengaluru, India that is focused on developing cell and battery technology and manufacturing processes for its forthcoming cell manufacturing at the Ola Gigafactory.  

Business area of the company

Ola Electric Mobility is an electric vehicle company that primarily manufactures electric vehicles and certain core components for electric vehicles such as battery packs, motors, and vehicle frames at the Ola Futurefactory.  

Major events and milestones

• 2022: Started delivery of S1 Pro through OET, its Material Subsidiary.
• 2022: Establishment of Ola Futurefactory.
• 2023: Establishment of OLA BIC in Bengaluru through OET, its Material Subsidiary.
• 2023: The company entered into a memorandum of understanding with the Government of Tamil Nadu for Ola EV Hub.
• 2023: Launch of first experience centre by Ola Fleet Technologies Private Limited.
• 2023: Started delivery of Ola S1 through OET, its Material Subsidiary.
• 2024: The company became the first E2W company to cross 50,000 registrations in a single month.
• 2024: The company crossed 500,000 registrations in under 30 months.
• 2024: Launch of 500th experience centre by Ola Fleet Technologies Private Limited.

Awards, accreditations and recognitions

• 2023: Ola was awarded in the categories of ‘Innovation in Electric Vehicle’ and ‘Innovation in Battery Tech’ at 13th Aegis Graham Bell Awards.
• 2023: Ola S1 Pro was awarded ‘Best of 2022’ by auto X in 2W category.
• 2023: Ola S1 was awarded ‘Electric scooter of the year’ at the Zee News Auto Awards 2022.
• 2024: Ola S1X was awarded ‘Scooter of the Year 2024’ by MotorOctane.
• 2024: Ola S1 Air was awarded ‘The EV Bike of the Year’ at the 2024 Acko Drive #TOTM Awards.
• 2024: Ola S1 Air was awarded ‘Best Electric Scooter 2024’ by Motor Vikatan.
• 2024: Ola S1 Pro was awarded ‘2023 Readers Choice Scooter of the Year’ at the 2023 Thrust Zone Annual Awards.
• 2024: Ola S1 Air was awarded ‘Viewer’s choice electric bike of the year’ at the car&bike Awards 2023.
• 2024: Ola Electric S1 was awarded ‘Electric Scooter of the Year’ at the car&bike Awards 2023.