Ola Electric’s board has approved reallocating ₹575 Cr from its research and product development budget to other objectives
While ₹100 Cr will go towards organic growth initiatives, ₹475 Cr is proposed to be reallocated to repay or prepay debt
The move will reduce the total allocation for research and product development from ₹1,505 Cr to ₹930 Cr. The funds set aside for debt repayment will increase from ₹395 Cr to ₹870 Cr
Troubled EV major Ola Electric’s board has proposed yet another change to the…

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