Ola Electric has halted its plans to launch an electric car and wants to expend its energies on its e-scooter business, two persons in the know told Reuters.
Softbank-backed Ola's founder Bhavish Aggarwal had plans of launching an electric sports car in 2022, the newswire noted.
Persons in the know told the newswire that the project has been halted ahead of its public listing next month. One person in the know said that the company's car project has been put on hold for a minimum of two years, as the focus is on two wheeler sales and battery production. Reuters could not elicit a response from the company.
A source said that Ola had held preliminary talks with a clutch of auto component suppliers and had even created a car model designed on the lines of a BMW luxury sedan, at its studio in the UK.
Reuters has learned that when Ola does revive the car project, it will focus on an affordable mass market car, a deviation from its plans of launching a premium sports car.