From Dow Jones & Company:

Ola Electric, an Indian electric scooter maker, plans to raise $662 million through an initial public offering (IPO) next year. Backed by Softbank, it will be the first electric vehicle (EV) manufacturer to list in India. The IPO will be a crucial test for the country’s growing EV market and is expected to attract significant investor interest. Ola Electric intends to use the funds to expand its battery cell manufacturing facility in Tamil Nadu. This move signifies the company’s commitment to furthering its presence in the EV sector in India. This IPO will be closely watched as a potential game-changer for the Indian EV industry.



Read more: Electric Scooter IPO to Test Enthusiasm for India’s EV Story