Ola Electric is in talks with a number of global vendors to develop a 50-gigawatt hour (GWh) battery cell manufacturing plant in India. The company intends to expand its operations and establish a battery manufacturing unit. In addition, it plans to invest in companies that specialise in advanced cell and battery technology.
According to industry estimates, Ola Electric will require 40GWh of battery capacity to power 10 million electric scooters each year. The rest will go toward the company’s electric cars, which it hopes to produce in the future. According to industry insiders, the cell battery plant would cost roughly $1 billion and will be completed in stages.
Ola Electric is the first Indian auto and electric vehicle firm to be chosen by the government to build an advanced cell manufacturing factory in two years under the government’s ambitious ₹80,000 crore cell PLI scheme. Currently, the company buys battery cells from South Korea and then assembles battery packs at their Futurefactory.
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Over 40 worldwide suppliers have already arrived in Bengaluru to meet with Ola founder and CEO Bhavish Aggarwal at the company’s headquarters, according to sources familiar with the company’s ambitious plans. They are also visiting the Ola Futurefactory in Krishnagiri, Tamil Nadu, this week. This could indicate that Ola Electric will announce the construction of their Battery Cell factory by the end of the year.