Ola Electric has signed a $100 million debt agreement with the Bank of Baroda to help it complete Phase 1 of its Ola Futurefactory which aims to be the largest producer of two-wheel EVs.
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Transport for London is reportedly preparing to strip Ola Cabs of its operating license, just like it did with Uber. The ride-hailing firm will have 21 days to appeal the decision.
The Indian ride-hailing firm, Ola, has said it will launch its services in Britain from September. Ola will be going up against Uber which it is already competing with in Australia.
According to some sources, talks are in progress between Uber's Indian branch and its local competitor Ola Cabs, after a merger was called for by SoftBank, an investor common to both companies.
