SoftBank-backed Ola Electric suspends India car project to focus on scooters, bikes, sources say

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SoftBank-backed Ola Electric suspends India car project to focus on scooters, bikes, sources say - Channel News Asia

Quick Summary:

NEW DELHI : India's IPO-bound Ola Electric has suspended its electric car launch plans as the Softbank-backed company wants to focus on its e-scooter business, two people with direct knowledge of the decision said.

In 2022 he said he would build a new plant within the same campus with capacity to manufacture 1 million electric cars a year.

One of the sources said Ola's car project has been put off for at least two years as focus remains on two-wheeler sales and battery production.