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Ola Electric To Setup $100 Million R&D Centre In UK

Ola Electric will setup $100 million R&D centre in UK that will hire 200 automotive engineers as well as designers

  • Ola Electric’s UK R&D centre will hire 200 engineers with an investment of $100 million by the company
  • The R&D centre in UK goes with the name of ‘Futurefoundry’ and will be based in Coventry, UK

World’s largest electric two-wheeler company is in India. It belongs to Ola Electric. After achieving this feat Ola Electric has announced to setup R&D centre in Coventry, UK. In Coventry, companies like Jaguar and Aston Martin also operates their factory. This will help the company look into the future. Ola Electric CEO recently shared the first pictures of the Ola Electric car. The company got huge success with the Ola S1 electric scooter. In future, Ola Electric will jump into electric cars as well.

Ola Electric UK R&D Centre

At a cost of $100 million, the UK R&D centre will help the company to develop new products. Ola Electric has some ambitious plan for the future. The company recently raised $200 million to fund its ambitious plans. According to the statement released by the company, the UK based R&D centre will work in collaboration with its Bangalore headquarters. In UK the Ola Electric will employ 200 automotive engineers that includes designers as well. The R&D centre is named ‘Futurefoundry‘ that will serve the future of the company.

Electric concept car by Ola Electric

After raising $200 million, Ola Electric is now valued at $5 billion. Recent funding rounding was from Tekne Private Ventures. ANI Technologies is the parent company of cab hailing giant Ola as well as Ola Electric. When Ola Electric CEO shared the first pictures of the Ola electric car, it has given rise to speculations. After release of the first image the company has confirmed that it will step in the electric car segment.