BENGALURU -- Ola Electric is set to become the first electric vehicle manufacturer to list its shares in India after it gained regulatory approval for an initial public offering, but analysts said the company will need to show investors it can turn a profit amid mounting competition.
Startups
SoftBank-backed Ola Electric set to become India's first EV listing
Profitability, competition woes cloud offering with investors cool to startups
Ola Electric's e-scooter is displayed at the headquarters in Bangalore in 2021. The company is seeking to raise 55 billion rupees in an IPO. © AFP/Jiji
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