India’s Ola to start producing electric cars in 2024

Indian ride-hailing firm Ola Electric plans to start producing electric cars in India in 2024, a Reuters report quotes its Chief Executive Bhavish Aggarwal.

The electric cars will have a range of up to 500 km (310 miles), Aggarwal said.

Softbank-backed Ola did not give an investment figure or production target.

Aggarwal sees India leading in the area of small cars, scooters and motorbikes for which global demand is higher.

Ola’s electric car with the most advanced features would go from 0 to 100 km per hour (62 miles per hour) in four seconds, he said.

Ola has sold over 70,000 electric two wheelers in the last seven months, and was in the process of setting up 100 hyper charging electric stations in major cities in India, Aggarwal said.

Ola had planned to go public in the first half of 2022, but the initial public offering has been postponed, possibly due to volatility in the market and lacklustre listings of some start-ups in India this year.

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