​Ola Electric will invest $208.5 million in ​its core vehicle and cell units ‌as the EV bike and scooter maker ​aims to step up cost ⁠cuts and localise manufacturing to achieve profitability amid rising competition.

The SoftBank-backed firm has been grappling ‌with higher operating costs and is seeking to bring them down ‌through automation, job cuts and increasing in-house ‌production ⁠of EV cells. The firm also ⁠plans to launch a new cost-efficient line of EV two-wheeler models.

The investment is expected to be ​completed by May ‌14, 2027, Ola Electric said in a statement.

Last year, the company started manufacturing its own battery cells instead of importing ‌them, a move that it previously ​said is key to achieving profitability.

In February, it projected lower operating ⁠costs by as much as 50 per cent in the coming quarters, after posting a narrower third-quarter ‌loss as it sets its sights on turning profitable. Ola is yet to report its March-quarter results.

Its EV unit posted a revenue of ₹4,717 crore for the year ended March 31, ‌2026, while its cell unit posted a ​revenue of 730 million rupees. The company, which once commanded half of India's ⁠e-scooter market, has lost ground to legacy ⁠players such as Bajaj Auto and TVS Motor, which widened distribution and rolled ‌out competing models, as well as to rival Ather Energy. ($1 = 95.9387 Indian ​rupees)

Published on May 15, 2026