[6] The company also produces battery cells at its manufacturing facility in Tamil Nadu, which supplies energy storage solutions for its vehicles and other applications.

[10][11] The company was started to reduce emission and fuel dependency of Ola's cabs, and shift to mass electric mobility; a pilot program was launched in Nagpur in May 2017 by setting up charging stations across the city and procuring electric cabs, e-buses, and e-rickshaws from OEM partners.

[16] The company announced on 6 May 2019 that Ratan Tata had invested an undisclosed amount in Ola Electric as part of its Series A round of funding.

[20] In December 2020, the company announced its plan to set up the world's largest two wheeler factory (called the Future Factory) in Tamil Nadu at a cost of ₹2,400 crore (US$323.89 million) after signing a memorandum with the Government of Tamil Nadu.

[21] It acquired a 500-acre land in Pochampalli, Krishnagiri District in January 2021; the construction work for the factory began in late February.

[24][25] Ola Electric raised more than $200 million from Falcon Edge, SoftBank Group and others at a valuation of $3 billion in September 2021.

[32] In July 2022, CEO Bhavish Aggarwal announced that the company was building Battery Innovation Center (BIC) in Bangalore, which would be Asia's largest cell R&D facility, with an investment of $500 million.

[34][35] On 2 August 2024, Ola Electric launched its initial public offering (IPO) and raised ₹5,500 crore.

For example, Chinese manufacturer Yadea sold 16.5 million electric two-wheelers in 2023, compared with Ola selling over 300,000 units.

[54] A disgruntled Ola customer set fire to a showroom in protest of poor service of his non functional scooter.