Business briefs

With this announcement, Ola Electric has taken the first step towards its Europe journey, it said in a statement.The company said it is in talks with multiple local partners for a seamless retail and service network across key European geographies.EICMA is our very first showcase in Europe and we are extremely proud to present our S1 scooters for customers in this market.

Volvo starts delivery of XC40 Recharge * Volvo Car India on Wednesday said it has commenced the delivery of its full electric model XC40 Recharge in the country.

Volvo XC40 Recharge is India's first locally assembled luxury electric SUV. The company is assembling the cars at its Bengaluru-based facility.

''This delivery is historic as this not only marks the beginning of our journey towards becoming an all-electric car company by 2030 but also will be the first car which is being delivered under our ambitious online direct sales model,'' Volvo Car India Managing Director Jyoti Malhotra said in a statement.

The response to the XC40 Recharge has been really encouraging with 150 car orders received online within the first two hours of the opening for bookings, he added.

''We already have close to 500 advance orders with us, and we will be delivering around 100 of them before the year-end. Rest of the customers will get their cars during the next year,'' Malhotra noted.

The automaker had introduced the XC40 Recharge on July 26 this year at Rs 55.90 lakh (ex-showroom). By 2030, the Swedish automaker aims to offer only pure electric vehicles and phase out all vehicles with internal combustion engines, including hybrids. *** Ola showcases S1 e-scooters at EICMA 2022 * Ola Electric on Wednesday said it has showcased S1 electric scooters at EICMA 2022.

The company has already announced its plans to enter the key European markets in the first quarter of 2023. With this announcement, Ola Electric has taken the first step towards its Europe journey, it said in a statement.

The company said it is in talks with multiple local partners for a seamless retail and service network across key European geographies.

''EICMA is our very first showcase in Europe and we are extremely proud to present our S1 scooters for customers in this market. We are confident that with our world-class EV products, we will grow the EV scooter market in Europe exponentially the way we have in India,'' Ola Founder and CEO Bhavish Aggarwal said.

EICMA is an annual trade show in Milan, Italy featuring two wheelers.