Ola could introduce one million electric cars by FY 2020
India's largest shared-vehicle transportation platform Ola, in which Japanese internet and telecom company SoftBank Group is a major investor, could look at introducing a million electric cars in partnership with an electric vehicle (EV) manufacturer and the government, according to reports. Speaking at the Hindustan Times Leadership Summit in New Delhi some months ago, Masayoshi Son, chairman of SoftBank Group, and main investor in OLA, said he is bullish on the EV sector in India and would explore investment opportunities. More importantly, the EVs will be locally manufactured in line with the government’s Make in India programme, he said. The Mint has quoted him as saying, “I think this will be the biggest initiative for electric vehicles in India,” adding that he wants to meet the one million target in the next five years.