Jewellery firm to buy Japan sportscar startup for ₹730 crore

Hong Kong-based jewellery O Luxe Holdings has agreed to purchase Japanese electric sportscar startup GLM for about ₹730 crore. The startup was founded in 2010 as a Kyoto University venture and has been pegged as a rival to Tesla. GLM's first model was a two-door sportscar called the Tommykaira ZZ, which debuted in Japan in 2014 for about ₹45 lakh.