Electric Vehicles

Since the fall in the number of rides last year, the company has been focusing on getting its EV business up and running as soon as possible.

In 2019, Ola had said it would go public by March 2021. However, the pandemic has derailed its plans and it’s currently focusing on building its electric vehicle fleet.

The electric vehicle startup’s listing in Hong Kong follows its USD 1.5 billion New York IPO in August 2020.

China’s desire to tighten control over massive troves of user data poses challenges for the country’s tech players in mapping, ride-hailing, and autonomous driving sectors.

Despite the growing popularity of electric cars in China, few automakers have managed to set themselves apart from the competition.

The company has appointed Christopher Bousigues as country manager.

Arcfox made a splash at the Shanghai Auto Show in April with its α-S crossover sedan, which features Huawei’s HarmonyOS and Kirin 990A chip.

Over 20 Chinese investment firms backed battery giant CATL, altogether generating over RMB 100 billion in profits from the venture.