Ola Electric plans to utilize IPO funds to expand its cell manufacturing plant capacity and for research, product development, and debt repayment. The company aims to launch affordable Ola S1 models and mass-market motorcycles. The Gigafactory's expansion will be financed through internal accruals and long-term borrowings. The IPO's proceeds will contribute to the capital expenditure for expanding the cell manufacturing plant's capacity. Ola Electric plans to launch Ola S1 models and commence motorcycle deliveries in the first half of fiscal years 2025 and 2026 respectively.Ola Electric's Rs 5,500-Crore IPO: Fund allocation insights for Gigafactory and EV portfolio expansion
December 26, 2023
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Ola Electric plans to utilize IPO funds to expand its cell manufacturing plant capacity and for research, product development, and debt repayment. The company aims to launch affordable Ola S1 models and mass-market motorcycles. The Gigafactory's expansion will be financed through internal accruals and long-term borrowings. The IPO's proceeds will contribute to the capital expenditure for expanding the cell manufacturing plant's capacity. Ola Electric plans to launch Ola S1 models and commence motorcycle deliveries in the first half of fiscal years 2025 and 2026 respectively.
