Ola set to unveil its first electric car on Independence Day

Bhavish Aggarwal, co-founder and CEO of Ola, is all set to announce a new product on Independence Day. He will be sharing the details soon.

Last year in August, the company announced its electric scooter, the S1. Reports suggest that on this Independence Day, Aggarwal will announce the firm's first electric car.

The product is expected to be launched next year.

Last week, Ola was in the news for its reported merger plans with UberCab. Aggarwal took to Twitter to deny reports of a merger with the company's key competitor.

Several media reports have also claimed that the ride-hailing platform is laying off employees from across verticals.

Earlier, Aggarwal had said that Ola will build the sportiest car ever in the country. He had also tweeted an image of a concept car.