Akshata Sharma
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Ahead of its much-awaited initial public offering (IPO), electric vehicle (EV) major Ola Electric has shelved its plans to launch electric cars
The EV startup has put off its electric car ambitions for "at least two years" to focus more on its two-wheeler business and battery production.
The focus is all on the two-wheeler market, including bikes, and mass electrification is still some time away as it needs to have (charging) infrastructure.
The company had hired more than 100 employees and engaged external consultants for its electric car project. However, around 30% of this team has quit now and the remaining have been assigned new roles or projects.
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