Ola co-founder and CEO Bhavish Aggarwal has announced the company’s state-of-the-art battery innovation center (BIC) in Bengaluru will start operations next month. It will be one of world’s largest, most advanced cell R&D facilities, set up with a $500 million investment. The facility will employ more than 500 engineers and researchers.
The electric mobility company is investing deeply in core R&D to create advanced cell technologies as it plans large-scale manufacturing of batteries. With this, it will have a complete electric vehicle (EV) ecosystem in India with R&D across 2W, 4W, and cell, and manufacturing at a global scale.
Ola has already applied for the government of India’s $2.4-billion production-linked incentive (PLI) scheme to develop advanced cells. And it will set up a cutting-edge cell manufacturing facility with up to 50 GWh capacity in India.
The company has appointed the former CEO of LG Chem Power, Prabhakar Patil, to the Ola Electric board. Patil brings to Ola his tremendous expertise in designing batteries for some of the leading EVs around the world.
Ola has also invested in Israel-based extreme-fast charging EV battery developer StoreDot. The investment gives Ola Electric access to StoreDot’s battery technology that charges a battery from 0 to 100% in just five minutes. Ola will also have exclusive rights to manufacture batteries integrating StoreDot’s fast charge technology in India.
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