Mint Explainer | Why Ola Electric is scrambling for cash

At the same time, the business is capital intensive. In its initial public offering in August 2024, ₹Ola Electric had allocated 5,500 crore ₹1,227 crore of the total revenue was used to increase gigafactory capacity from 5 GWh to 6.4 GWh. This plan was later scaled back, with funds reallocated to research and development and general corporate purposes after the company said 5 GWh would be sufficient.