India: SoftBank-backed e-scooter maker Ola Electric to lay off 500 employees

India: SoftBank-backed e-scooter maker Ola Electric to lay off 500 employees

FILE PHOTO: Ola Electric's S1 Air e-scooters are pictured inside its manufacturing facility in Pochampalli in the southern state of Tamil Nadu, India, August 15, 2023. REUTERS/VarunVyas Hebbalalu/File Photo

India’s top electric scooter maker Ola Electric plans to cut about 500 jobs as it seeks to prioritise profitability, local business news publication Moneycontrol reported on Thursday, citing sources.