ARTICLE · 08 SEPTEMBER 2022

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Softbank Group backed Ola Electric has set it eyes on penetrating the Indian electric vehicle (EV) ecosystem by introducing its own line of electronic cars and competing against industry rivals...

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A. TECHNOLOGY

1. Indian Ride-Hailing Firm Ola to Start Producing Electric Cars in 2024

Softbank Group backed Ola Electric has set it eyes on penetrating the Indian electric vehicle (EV) ecosystem by introducing its own line of electronic cars and competing against industry rivals such as Tata Motors and Mahindra Electric Mobility. Ola Electric plans on developing a 'full- EV hub' by expanding the company's 'Futurefactory' to produce 1 million cars, 10 million e-scooters and 100-gigawatt hour of cells each year. The EV industry in India could reach $206 billion by 2030 provided steady progress and investment in the production and charging infrastructure is maintained.

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