💨 Abstract

India's top electric two-wheeler manufacturer Ola Electric reported a wider quarterly loss due to heavy discounts to compete with rivals and service quality improvements. The company incurred a one-time cost of 1.1 billion rupees and spent 130 million rupees on job cuts. Despite being the top seller, its lead over competitors has narrowed.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖