 "Ola electric scooter")
The dark horse of India’s battery race is pulling away from the pack, but can it beat the bookies’ favorite?
Ola Electric Mobility Pvt., a Bengaluru-based startup, will get state support to manufacture EV batteries that can store a total of 20 gigawatt-hours of power, the government said on March 24. Reliance Industries Ltd., the country’s largest conglomerate, will get subsidies for five gigawatt-hours. The upstart is getting 40% of the total capacity covered by New Delhi’s $2.4 billion in battery incentives over five years. The plan is to shave off $33 billion from the country’s fuel-import bill.
Paying firms
