- Reuters
SoftBank-backed Ola Electric suspends India car project to focus on scooters, bikes, sources say
India's IPO-bound Ola Electric has suspended its electric car launch plans as the Softbank-backed company wants to focus on its e-scooter business, two people with direct knowledge of the decision said. Ola's founder Bhavish Aggarwal laid out plans in 2022 to launch an electric sports car with an all-glass roof in two years that could reach 100 km per hour within four seconds. Aggarwal reiterated those plans as recently as Sept. 2023 in an interview with Forbes, but the two sources said the project is now suspended ahead of its planned August IPO, where it is set to raise around $660 million.
- Bloomberg
Mubadala-Backed Fortress Sees Assets Doubling to $100 Billion
(Bloomberg) -- Fortress Investment Group, the firm backed by Abu Dhabi sovereign wealth fund Mubadala, said it expects to double assets under management to $100 billion as it pushes into private wealth and insurance.Most Read from BloombergWhat Initial Polling Data Show About the Trump-Harris MatchupA Six-Second Decision Shows How Harris Snapped Up DelegatesHarris Has Enough Delegates to Clinch Nomination for PresidentWiz Rejects Google’s $23 Billion Offer, Seeks IPO InsteadTrump Risks Getting T
- Motley Fool
GoPro Announces New Distribution Partnership With SoftBank C&S in Japan. Could This Help the Declining Stock?
The news is encouraging, but it might not sufficiently move the needle for the company.
