Founded in 2010, Ola also counts private equity firms Temasek and Warburg Pincus among its investors and competes with U.S.-listed Uber Technologies for a share of India's ride-hailing market. The firm has since expanded into offering cars on lease and into the electric-vehicle space in the country.
Ola's electric vehicle business earlier this year launched a scooter and has charted out plans to produce kick scooters, e-bikes, drones and even flying cars. The unit raised more than $200 million at a valuation of $3 billion in September.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
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