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Aggarwal also said Ola’s first electric car will be out in 2023 as the company, backed by Japan’s Softbank (OTC:SFTBY) Group, aims to make India a global electric vehicle hub.
“Our ambitions in electrification are to make India the global electric vehicle hub,” Aggarwal told the Reuters Next conference.
Ola, which has a majority share of India’s ride-hailing market, where it competes with Uber Technologies (NYSE:UBER), has a growing presence in several global markets such as Australia and Britain.
Founded in 2010 by Aggarwal, Ola plans to raise up to $1 billion through an initial public offering (IPO) in the next few months, joining a slew of Indian start-ups preparing to list.
