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Ola, which is backed by Japan's Softbank Group and currently
makes e-scooters, did not give an investment figure or
production target.
Aggarwal said that while companies like Tesla are leading the
way in building electric vehicles more suited for Western
markets, India can lead 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.
The company was setting up an electric vehicle ecosystem, aiming
to produce cars, two wheelers and batteries all at a single
plant in the state of Tamil Nadu, he said.
The company 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.
(Reporting by Manoj Kumar, Editing by David Goodman and Susan
Fenton)
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