Indian electric two-wheeler maker Ola Electric reports wider first-quarter loss

Indian electric two-wheeler maker Ola Electric reported a wider first-quarter loss on Monday, as its sales took a beating from heavy competition.

India automaker Mahindra, parts maker Minda eye local magnet production

The Bengaluru-based firm reported a loss of 4.28 billion rupees ($49.80 million) for the April-June quarter, bigger than the 3.47 billion rupees it posted last year.