Business Standard

Ola setting up Futurefoundry in UK, creating $100-mn vehicle design centre

Recent $200 mn funding to help Ola speed up development of other vehicle platforms, including e-motorbike, mass market scooter and electric car

Ola
Premium

(Photo: Bloomberg)

Peerzada Abrar Bengaluru
After raising over $200 million from investors at a $5 billion valuation, Ola Electric, the ride-hailing firm’s electric vehicle (EV) arm, is setting up Ola Futurefoundry, its global centre for advanced engineering and vehicle design. This centre will be based in Coventry, UK, a global hub for the best automotive design and engineering talent in the world.

SoftBank-backed Ola will invest over $100 million over the next 5 years into the state-of-the-art centre and staff it with over 200 designers and automotive engineers. The centre will also partner with world-class education and research institutions in the UK to collaborate on

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 27 2022 | 4:17 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com