Ola Electric’s shares surge in trading debut, company valued at $4.4 billion

Ola Electric Mobility’s shares rose by 10% on its trading debut, reaching a valuation of $4.40 billion. Despite impressive sales growth, the company remains unprofitable. Proceeds from its $734 million IPO will fund research and development, with a focus on producing its own battery cells by 2025 to increase scooter affordability.