Ola Electric Mobility (Ola Electric), the ride-hailing firm’s electric vehicle arm, has raised $250 million from Masayoshi Son’s SoftBank. The funding would help Ola compete with rival Uber, which is also backed by SoftBank. It will also help Ola Electric in its expansion plans, as it is running pilots involving charging solutions, battery-swapping stations, and deploying vehicles across the two-, three-, and four-wheeler segments.

(Business Standard)