OLAELEC

** Ola Electric OLAE.NS falls as much as 2.5% to record low of 26.83 rupees; stock down 12.5% so far this week

** Electric two-wheeler manufacturer plans to reduce physical store count further to about 550 by March-end, as per media report

** Earlier this week, Citi downgraded stock to "sell" from "buy"; cuts PT to 27 rupees from 55 rupees, citing persistent headwinds to volume growth

** Stock rated "hold" on average vs "strong buy" for larger rival Ather Energy ATHR.NS, per data compiled by LSEG

** Stock down 25% YTD

(Reporting by Brijesh Patel in Bengaluru)

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** Ola Electric OLAE.NS falls as much as 5.1% to record low of 27.36 rupees

** Electric two-wheeler manufacturer extends fall after brokerages flag weak Q3 operating profit, question growth prospects

** OLAE currently down 2.2%; sheds 8.7% since Monday

** Citi downgrades to "sell" from "buy"; cuts PT to 27 rupees from 55 rupees, citing persistent headwinds to volume growth

** Says co's prospects of posting positive EBITDA hampered by poor perception of its scooters, service quality, which could take time to improve

** Adds key headwinds include improved affordability of combustion engine scooters, increased competition among EV players

** Notes negative free cash flow key area of concern

** Stock rated "hold" on average vs "strong buy" for larger rival Ather Energy ATHR.NS, per data compiled by LSEG

** Stock down 22% YTD

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of Ola Electric Mobility OLAE.NS drop as much as 6.7% to their lifetime low of 28.81 rupees, last down 5.5%

** Electric two-wheeler maker posted consol net loss of 4.87 billion rupees ($53.7 million) in Q3 from a loss of 5.64 billion rupees year ago; revenue plummets 55% Y/Y to 4.7 billion rupees

** Brokerage Ambit says EBITDA losses expanded with margin dropping 14% Y/Y in Q3 due to higher employee exit costs

** Ambit cuts PT to 25 rupees from 30 rupees, maintains 'sell' rating

** Emkay downgrades OLAE to "Sell" from "Buy", cuts PT by 60% to 20 rupees from 50 rupees

** Kotak cuts PT to 20 rupees from 25 rupees, maintains "Sell"

** Adds, OLAE continuously fails to acknowledge major concerns related to products, which are contributing to sustained below-expectation volume offtake and a rapidly declining market share

** OLAE fell 58% in 2025

($1 = 90.6540 Indian rupees)

(Reporting by Vijay Malkar)

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Feb 13 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• Q3 CONSOL NET LOSS 4.87 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 4.7 BILLION RUPEES

• ONE-TIME CHARGE OF 50.6 MILLION RUPEES IN Q3 ON NEW LABOUR CODES

Source text: ID:nBSE2lQsbP

Further company coverage: OLAE.NS

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Jan 30 (Reuters) - India's Ola Electric will lay off 5% of its workforce as part of a restructuring effort, the electric scooter manufacturer said on Friday.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)

(([email protected]; Mobile: +91 9591011727;))

** Shares of Ola Electric Mobility OLAE.NS fall 3.7% to 34.7 rupees, lowest in nearly a month

** Electric vehicle maker's CFO Harish Abichandani resigns due to personal reasons

** Co names Deepak Rastogi as new CFO

** Stock down for the 10th consecutive session; it fell 57.7% in 2025

** Stock rated "hold" on avg; median PT 46 rupees - data compiled by LSEG

(Reporting by Aleef Jahan in Bengaluru)

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Jan 19 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - NAMES DEEPAK RASTOGI AS CHIEF FINANCIAL OFFICER

• OLA ELECTRIC - HARISH ABICHANDANI RESIGNS AS CFO EFFECTIVE JAN 19

Source text: [ID:]

Further company coverage: OLAE.NS

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Jan 1 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• LAUNCHES ROADSTER X EV MOTORCYCLE IN INDIA

Source text: ID:nBSEbHG42S

Further company coverage: OLAE.NS

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Dec 30 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• GETS GOVERNMENT CERTIFICATION FOR 4680 BHARAT CELL POWERED ROADSTER X+ MOTORCYCLE

Source text: ID:nBSE4H760S

Further company coverage: OLAE.NS

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Nov 6 (Reuters) - India's Ola Electric OLAE.NS reported a narrower second-quarter loss on Thursday, helped by a sharp drop in its expenses.

The electric two-wheeler maker's consolidated net loss stood at 4.18 billion rupees ($47.56 million), compared to 4.95 billion rupees a year earlier.

($1 = 87.8950 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)

(([email protected]; 8800437922;))

Adds Ola's response on non-payment of salary in paragraph 9

By Chandini Monnappa and Kashish Tandon

BENGALURU, Oct 20 (Reuters) - Ola Electric OLAE.NS founder Bhavish Aggarwal and a senior executive have been named in a police complaint after an employee accused them of harassment in a 28-page note before dying by suicide, according to a copy of the police report seen by Reuters.

The complaint, filed by the employee's brother in Bengaluru, names Aggarwal and the company's head of homologation, Subrath Kumar Das, alleging the employee was under intense pressure.

The deceased K. Aravind's brother, Ashwin Kannan, told Reuters that a day after his brother's cremation on September 29, the company deposited about 1.7 million rupees ($19,341) to Aravind's account.

On enquiring about the payment, three people from Ola Electric's human resources team visited him and said the deposit related to Aravind's pending salary for the financial year 2024-25, he said.

"When they had not paid for months, how did they suddenly send the amount the very next day of hearing about my brother's death and cremation?" Kannan asked.

Ola Electric, which has challenged the First Information Report (FIR) in the state's top court, said the employee never raised any complaint or grievance regarding his employment or any harassment during his tenure.

However, Kannan told Reuters his brother had been employed with Ola Electric since 2022 and had recently complained that the company had not cleared his dues.

He said Aravind feared seeking payment after hearing that employees who raised similar concerns were losing their jobs.

On non-payment of salary, the company said all salary dues to Aravind "were cleared in the normal course of payroll processing". "There were no pending or outstanding salary payments at the time of the incident," it said.

"In order to provide immediate support to the family, the company promptly facilitated the full and final settlement to his bank account," Ola Electric's spokesperson said.

Ola Electric, backed by SoftBank Group 9984.T, Temasek Holdings, Tiger Global Management and India’s State Bank of India has been grappling with slowing sales, regulatory scrutiny and intensifying competition from established two-wheeler makers.

The stock has fallen about 30% since listing in August 2024.

($1 = 87.8950 Indian rupees)

(Reporting by Kashish Tandon, Chandini Monnappa and Haripriya Suresh in Bengaluru; Editing by Eileen Soreng)

(([email protected]; 8800437922;))

** Shares of Ola Electric Mobility OLAE.NS climb 4.5% to 55.11 rupees

** Electric scooter maker launched its first battery energy storage systems (BESS) solution

** Expects annual consumption for BESS to scale up to 5 gigawatt-hour in the next couple of years

** Introductory prices start at 29,999 rupees ($341.47) for a 1.5 kilowatt-hour battery; prices go up to 159,999 rupees for 9.1 KWh for the first 10,000 units

** Stock top percentage gainer on the Nifty small-cap index .NIFSMCP100, which is up 0.4%

** OLAE stock is rated "hold" on avg by 7 brokerages, median PT at 45 rupees - data compiled by LSEG

** Stock down 35.6% YTD

($1 = 87.8538 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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Oct 6 (Reuters) - Ola Electric Mobility OLAE.NS:

• GETS GOVERNMENT CERTIFICATION FOR IN-HOUSE FERRITE MOTOR

• WITH THIS CERTIFICATION, TO INTEGRATE FERRITE MOTOR ACROSS LINEUP

Source text: ID:nNSE6b2g4N

Further company coverage: OLAE.NS

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Corrects market share to about 0.5% from about 5% in paragraph 4 after company clarification

By Meenakshi Maidas and Yagnoseni Das

Sept 30 (Reuters) - Simple Energy, an Indian electric two-wheeler manufacturer that plans to go public next year, is aiming for a 19-fold jump in retail presence by 2029 as it accelerates expansion in northern India to compete with industry giants, a top executive said.

Bengaluru-headquartered Simple Energy, founded in 2019, opened its first showroom last year and now operates 53 outlets across the country.

In the next three to four years, Simple will be in a hyper-growth phase, essentially to break into the top three, Founder and CEO Suhas Rajkumar told Reuters.

The company currently holds about a 0.5% share of India's EV two-wheeler market, competing with established players such as TVS Motor TVSM.NS, Bajaj Auto BAJA.NS, Ola Electric OLAE.NS, and Ather Energy ATHR.NS.

Scooters make up roughly one-third of India's two-wheeler market and dominate the EV segment, accounting for the majority of the sales.

Simple Energy said in mid-September that it has developed an in-house motor free of heavy rare-earth elements, a move aimed at insulating itself from supply chain disruptions following China's export curbs, which rattled the global auto industry and left manufacturers scrambling for alternative technologies.

Local peer Ola also ramped up its programme to make their own rare-earths-free motors in April in response to global supply constraints, and plans to roll them out in the December quarter.

Simple Energy will keep the motor tech exclusive for now, but may open it to other players within a year if supply chain pressures persist, Rajkumar said.

The company plans to launch an IPO in the second or third quarter of fiscal 2027, aiming to raise $350 million, largely through a fresh issue. The proceeds will be earmarked for retail expansion, research and development, and marketing.

A small portion of the IPO will be an offer for sale, although specific details remain undisclosed. So far, the company has raised $51 million from marquee investors to fuel its growth.

Simple, which sells the 'Simple One' and 'Simple OneS', has sold 5,027 vehicles, as of September 29, according to government data, after facing early delivery hiccups.

(Reporting by Meenakshi Maidas and Yagnoseni Das in Bengaluru; Editing by Sherry Jacob-Phillips)

(([email protected]; +91 8921483410;))

By Akash Sriram

BENGALURU, Sept 23 (Reuters) - Electric two-wheeler startup Ultraviolette Automotive said on Tuesday it is open to licensing its battery technology, as the Qualcomm QCOM.O and TVS Motor‑backed TVSM.NS company seeks to build a new, higher‑margin revenue stream.

EV startups face heavy cash burn from factory build-outs and the high cost of batteries and components.

Licensing could provide capital to expand manufacturing and the product portfolio, giving companies more financial flexibility, industry experts say.

"A little down the line, we should probably look at other revenue streams from offshoots from the technology side," CEO Narayan Subramaniam told Reuters.

"We have gotten interest from EV manufacturers, companies that make space tech equipment to even performance hydroplanes. But for us currently, with the bandwidth that we have, our laser-sharp focus is on building our presence and product portfolio."

Pursuing new business lines can divert focus and resources from scaling core EV sales and manufacturing, a critical phase for startups still establishing market share, industry experts say.

In the United States, Rivian RIVN.O and Lucid LCID.O have also sought to boost revenue by licensing or supplying their EV technology, underscoring how capital‑intensive startups are looking beyond vehicle sales for profitability.

The Bengaluru, India‑based company on Tuesday launched the X47 electric motorcycle, aiming to attract a broader swath of consumers and expand in India and Europe.

Ultraviolette positions its bikes at the premium end against domestic rivals such as Ather Energy ATHR.NS and Ola Electric OLAE.NS , targeting buyers willing to pay more for performance-oriented models and advanced features.

By contrast, Ather CEO Tarun Mehta told Reuters last month the company is not looking to license its technology.

Ultraviolette raised $21 million last month in a round led by Japan’s TDK Ventures, with participation from Zoho Corporation and Lingotto.

(Reporting by Akash Sriram in Bengaluru; Editing by Tasim Zahid)

(([email protected]; On X as @HoodieOnVeshti; +91-99017-77617;))

Sept 4 (Reuters) - Japan's SoftBank Group 9984.T sold a 2.15% stake in Indian electric scooter maker Ola Electric OLAE.NS over two months, reducing its holding to 15.68% from 17.83%, an exchange filing showed on Thursday.

(Reporting by Nishit Navin; Editing by Sonia Cheema)

(([email protected];))

** Shares of Ola Electric OLAE.NS up 35% this month, its best since listing on Aug 9, 2024

** Electric two-wheeler maker extends gains for fourth straight session, up 2% to 55 rupees on Friday

** Co secured production linked incentive compliance for its Gen 3 scooters on Tuesday; OLAE up 16% since

** On Aug 20, shares rallied some 18% on multiple block deals at premium

** Stock rated "hold" on avg by 7 analysts; median PT at 45 rupees- data compiled by LSEG

** YTD, OLAE down 34%

(Reporting by Komal Salecha)

(([email protected];))

** Shares of Ola Electric OLAE.NS rise 8.2% to 55 rupees, biggest pct gainer on Nifty 500 index .NIFTY500, which is down 0.4%

** Two-wheeler maker up 13% so far since Tuesday when it won incentive compliance for Gen 3 scooters

** Certification makes co eligible for incentives ranging from 13% to 18% of the determined sales value until 2028

** On average, 7 analysts rate it "hold"; median PT is 45 rupees - data compiled by LSEG

** Broader Indian markets down 0.25% on the day as U.S. punitive tariffs take effect .BO

** YTD, OLAE down 35% vs Nifty 500's 1.7% rise

(Reporting by Komal Salecha)

(([email protected];))

** Indian e-scooter maker Ola Electric OLAE.NS jumps 12.2% to 50.3 rupees, its highest level since early-June

** Shares of OLAE changed hands in 89 block deals priced between 45.4 rupees to 50.63 rupees, data compiled by LSEG showed

** Block deals at 1.3%-12.9% premium on Tuesday's last close

** Overall, about 350 million shares traded, 2.9x the 30-day avg

** Stock down ~42% so far in 2025

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Recasts paragraph 1, adds details from earnings call

By Meenakshi Maidas

Aug 4 (Reuters) - Indian e-scooter maker Ather Energy ATHR.NS reported a narrower first-quarter loss on Monday on higher demand, and said it expects a week of "potential business impact" only in the second quarter due to China's rare-earth magnet export ban.

Ather expects around a week's worth of a supply gap to dealers due to China's ban but aims to manage the impact with existing inventory, CEO Tarun Mehta said in post-earnings call.

The company is also exploring alternatives, including a shift to more widely available light rare earth magnets, which remain unrestricted, he added.

China, which supplies around 90% of the world's rare earth magnets, imposed the export ban in April.

Last week major Indian carmakers Mahindra MAHM.NS, Hyundai India HYUN.NS shrugged off medium-term issues from the export ban, with Mahindra saying it was using alternatives such as light rare-earths and ferrites.

Ather Energy, which makes the popular "Rizta" e-scooter, said its losses narrowed to 1.78 billion rupees ($20.3 million) in the quarter ended June 30 from 1.83 billion rupees a year ago, helped by sales that grew nearly two-fold to 46,078 units.

Backed by Hero MotoCorp HROM.NS, Ather entered India's electric vehicle market in 2018 as an early mover, but has since lost ground to rivals such as Ola Electric OLAE.NS and legacy players with stronger finances and a broader reach.

Its revenue surged 78.8% on-year to 6.45 billion rupees, but rising material costs pushed overall expenses 54.4% higher.

Its adjusted gross margin rose to 23% from 19% a year ago, driven by non-vehicle revenue such as warranty programs, software and accessories such as its "Halo" helmets.

Ather's shares rose as much as 19.4% to a record high of 414.65 rupees on Monday after its quarterly results and closed 14% higher.

($1 = 87.6320 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Nivedita Bhattacharjee, Mrigank Dhaniwala and Sonia Cheema)

(([email protected]; +91 8921483410;))

Rewrites throughout, adds executive's comment in paragraph 2

By Nandan Mandayam

July 31 (Reuters) - India's Eicher Motors reported that a shortage of rare earth magnets disrupted its first-quarter production of performance motorcycles due to China's export ban on the key component, prompting the company to switch to alternative materials.

"We started working on the alternative material...at least about three or four months back. Now (the import of) that alternative material is not a major issue," Eicher's Managing Director B. Govindarajan told analysts in a post-earnings call.

The shortage of the critical component stalled production of Royal Enfield's Himalayan, Scram and Guerilla motorcycles, Govindarajan added.

Indian two-wheeler manufacturers, particularly e-scooter makers, are scouting substitutes to rare earth magnets, as China controls 90% of the global production.

Earlier in the day, India's top e-scooter maker TVS Motor TVSM.NS said it was looking for rare earth alternatives used for motors. Ola Electric, meanwhile, had said it has developed rare-earth-free motors, which are to be deployed from the December quarter.

China's curbs on rare-earth exports have disrupted the global auto industry, with companies warning of a severe supply crunch.

Eicher, whose Royal Enfield leads premium motorcycle sales in India, reported a profit that topped estimates on Thursday, helped by strong local and overseas demand.

The company clocked a profit of 12.05 billion rupees ($137.6 million) for the quarter ended June 30, compared with 11.01 billion rupees a year earlier, beating analysts' estimate of 11.17 billion rupees, according to data compiled by LSEG.

Its shares closed down 0.2% before the results were announced. They are up 13.4% so far in 2025.

($1 = 87.6040 Indian rupees)

(Reporting by Nandan Mandayam and Anuran Sadhu in Bengaluru; Editing by Mrigank Dhaniwala and Shilpi Majumdar)

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** Ola Electric Mobility OLAE.NS falls as much as 4.1% to 45.16 rupees

** Co forecast improved gross margins for FY26 after posting narrower sequential Q1 loss on Monday

** Ambit Capital says co expects margin gains from Q2 due to PLI approval, efficiency improvements

** Adds, "We find this ambitious due to delays in fully commercialising captive cell plant, pending PLI approval"

** Investec says while co's margins expected to rise, volume growth could moderate due to slowdown in EV industry, increased competition

** Notes delay in cell manufacturing ramp up may lead to exclusion from PLI

** Goldman Sachs recognises co's efforts to shift towards positive EBITDA, FCF breakeven, but believes market requires greater clarity on volume growth, market share execution

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected];))

Recasts; adds comments and result details in paragraphs 4-7

July 14 (Reuters) - India's Ola Electric OLAE.NS on Monday forecast improved gross margins for fiscal 2026 after posting a narrower sequential loss for the first quarter, helped by stronger sales of its newer, more cost-efficient scooter models.

Shares of the company, which listed in August last year, jumped over 14% after the results and were on track to snap a five-session losing streak.

The Bengaluru-based firm's June quarter loss of 4.28 billion rupees ($49.80 million) was narrower than the 8.7 billion rupees in the previous quarter.

The SoftBank-backed 9984.T firm said it expects gross margins to rise to 35% to 40% in the current fiscal year, up from 20.5% last year, and projected revenue between 42 billion and 47 billion rupees, compared to 46.65 billion rupees in fiscal 2025.

The company added that it has developed rare earth-free motors, which are set to be deployed starting the December quarter. Ola said it accelerated the program in April following global rare earth supply cuts.

China's curbs on rare-earth exports have disrupted the global auto industry, with companies warning of a severe supply crunch. Rare-earth magnets are used are used in the motors that power electric scooters.

Ola Electric said its automotive unit posted positive earnings before interest, taxes, depreciation and amortization (EBITDA) in the month of June and expects the segment to turn positive in the second quarter.

Quarterly sales volumes came in at 68,192 units, just higher than the 65,000 units it forecast in May.

The auto segment's gross margin rose to 25.6% from 13.8% in the last quarter.

($1 = 85.9400 Indian rupees)

(Reporting by Meenakshi Maidas, Kashish Tandon and Nandan Mandayam in Bengaluru; Editing by Nivedita Bhattacharjee)

(([email protected]; Mobile: +91 9591011727;))

July 8 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• ANNOUNCES MASS ROLL-OUT OF MOVEOS 5

Source text: ID:nBSE6JWjY0

Further company coverage: OLAE.NS

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** Shares of Ola Electric Mobility OLAE.NS fall 2.6% to 42.05 rupees

** More than 4.5 mln shares traded in 4 block deals on NSE at a discount of 0.2% to 2.6% to previous close

** OLAE's RSI falls to 25.9, suggesting stock might be oversold - LSEG

** OLAE down ~51% YTD

(Reporting by Vijay Malkar)

(([email protected];))

** Ola Electric Mobility OLAE.NS falls 6.3% to record low of 43.16 rupees; set for ninth session of losses in 10 days

** More than 24.7 mln shares traded in seven large deals on NSE at 3.4%-5.6% discount to Friday's close, per data compiled by LSEG

** Traded shares represent 0.5% stake in OLAE

** Earlier this month, Hyundai Motor 005380.KS sold its entire 2.47% stake in OLAE; Kia 000270.KS trimmed its holding

** OLAE, grappling with slowing sales, regulatory pressure, competition from established two-wheeler makers, down ~53% since going public in August 2024

(Reporting by Vivek Kumar M)

(([email protected];))

Updates

May 30 - ** Electric scooters maker Ola Electric Mobility OLAE.NS down 5.5% to 50.3 rupees after Q4 results

** Ola forecast decline in current quarter revenue to 8.5 billion rupees ($99.25 million), compared to 16.44 bln rupees in Q1 FY25 amid falling sales and steep discounts

** Co's Q4 loss doubled to 8.7 billion rupees vs 4.16 billion rupees a year ago, also hit by a one-time warranty expense provision

** Kotak Institutional Equities downgrades stock to "sell" from "reduce"; cuts fair value to 30 rupees from 50 rupees

** Says, core loss was "much above" its expectations and co's future hinges on scaling up volumes and a successful motorcycle foray, which faces "executive and credibility challenges"

** Ola is targeting profitability and gross margin improvement in current fiscal year

** Shares down ~41% YTD

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

Rewrites paragraph 1, adds details from earnings call, presentation throughout

By Nandan Mandayam

May 12 (Reuters) - Indian e-scooter maker Ather Energy ATHR.NS, founded in 2013, reported a smaller full-year loss for the first time ever on Monday, as strong demand for its 'Rizta' scooter and lower unit costs boosted margins.

Ather started selling e-scooters in 2018, becoming a pioneer in the Indian market, but has since fallen behind Ola Electric OLAE.NS and legacy rivals, who are better funded and have a wider distribution network.

The company, which debuted on the stock market last week, has sought to close the gap with the launch of the more family-oriented 'Rizta' and by using its engineering heft to lower costs.

That helped its net loss narrow to 2.34 billion rupees (about $28 million) in the fourth quarter, from 2.83 billion rupees a year ago. Its full-year loss shrank to 8.12 billion rupees from 10.6 billion rupees.

"Our reduction of losses and improvement of margins have happened on the back of our focus on software and a strong R&D-led cost reduction," CEO Tarun Mehta said.

Mehta, who has referred to Ather's e-scooters as the "Apple of electric two-wheelers", said the company could achieve profitability "at a lower scale than some of our peers." He did not give details or a timeline.

Its closest rival, Ola Electric, is also posting losses, while legacy two-wheeler companies, including market leader and Ather's biggest shareholder Hero MotoCorp HROM.NS, do not give separate results for their electric vehicle sales.

Strong demand for the 'Rizta' helped Ather's fourth-quarter revenue increase 29%.

The company hopes the 'Rizta' and other launches will help it expand in north and west India, and is backing its R&D prowess to cut production costs.

This, said Mehta, has already helped Ather cut full-year unit costs by nearly 20%, leading to adjusted gross margin, including government subsidies, doubling to 19%.

Ather's earnings margin before interest, taxes, depreciation and amortisation (EBITDA) margin improved to negative 23% from about negative 36%.

($1 = 84.8270 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala, Varun H K and Savio D'Souza)

(([email protected]; Mobile: +91 9591011727;))

May 5 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• CLARIFIES ON PERPETUAL LICENSE FOR 'OLA' MARK IN EV BUSINESS

• CO HOLDS LICENSE TO USE CERTAIN LICENSED IP, INCLUDING LOGO AND/OR WORD-MARK OF 'OLA'

• LICENSE VALID GLOBALLY FOR OLA ELECTRIC VEHICLE BUSINESS

Source text: ID:nBSEbQD2dr

Further company coverage: OLAE.NS

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