Karnataka-headquartered Ola Electric, which won 20 GWh battery cell capacity under the government’s production-linked incentive (PLI) scheme, is going to set up its lithium battery gigafab in the Indian state of Tamil Nadu.
The company has signed a memorandum of understanding with the Tamil Nadu government to invest INR 7,614 crore into setting up the world’s largest EV hub with an integrated electric two-wheeler, car, and lithium cell gigafactory in the state.
The Ola EV hub will come upon 2,000 acres of land at the company’s manufacturing facility in Tamil Nadu.
Ola has already invested in setting up a state-of-the-art battery innovation center (BIC) in Bengaluru to create advanced cell technologies as it plans large-scale manufacturing of batteries.
It 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 also gets exclusive rights to manufacture batteries integrating StoreDot’s fast charge technology in India.
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