February 22, 2024

An preliminary public providing deliberate for subsequent 12 months in India may very well be an important check for the nation’s budding electric-vehicle market. 

India’s Ola Electrical, which makes two-wheeled electrical scooters, filed in late December a draft prospectus for a public itemizing, searching for to lift about $662 million. It should turn out to be the primary EV maker to listing in India and can most likely draw vital curiosity from traders. The Softbank-backed agency plans to make use of proceeds from the providing primarily for the growth of its battery cell manufacturing facility within the southern state of Tamil Nadu. 

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