Ola Electric Mobility is barely a year old. Carved out of the ride-hailing giant Ola in 2019, Ola Electric was spun out as part of Ola’s “Mission Electric”—a self-imposed mandate to put “a million electric vehicles on the road by 2021”.
A million is an eye-ball grabbing number. So is a billion. Ola Electric raced towards unicorn status—a valuation of $1 billion-plus—thanks to a $250 million shot in the arm by SoftBank.