Ola Electric Shares Surge on Debut as Investors Bet on Increasing EV Adoption

Ola Electric's shares surged on Friday as the company's investors bet on increasing adoption of EVs in the country. Ola Electric's $734 million IPO is India's biggest so far in 2024 and with a 39% market share as of July, Ola Electric dominates sales of electric scooters in India, having launched its first model just three years ago.