IPO-bound Ola Electric cancels electric car project: Report

Quick Summary:

The SoftBank-backed company is planning to focus on its e-scooter business as it prepares for an initial public offering this year.

Ola Electric, a subsidiary of India-based ride-hailing platform Ola, filed its draft red herring prospectus with SEBI in December 2023.

Ola Electric did not respond to a request for comment sent by YourStory.

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Article Details

Author / Journalist: Sai Keerthi

Category: StartupsEconomyBusiness

Markets: India

Topics: Company Planning Business E-scooter Focus Policy Report According Electric Launch Privacy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 12:28:48 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 244 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 21784123

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Official Website: yourstory.com

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