Ola Electric starts building second factory in India

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Ola Electric announced on Wednesday that it has installed the first pillar at its upcoming Gigafactory in India, which will be its second factory in the country. The factory is touted as India’s largest EV battery factory and the manufacturer may also launch a new product line there at a later stage.

go through: HT car desk
| Written by: Deepika Agrawal
| Updated on: June 21, 2023 at 17:16

Ola Electric is about to build a battery gigafactory in India.

Bhavish Aggarwal, the company’s chief executive, tweeted some pictures and videos of the facility. The video shows the installation process of the factory’s first pillar. “Installing our first pillar at the Ola Gigafactory. So proud and excited for the work our team is doing to make India a global EV hub and #endICEAge!” he wrote. “There are many wishes, thank you! Rukna nahi, thakna nahi! ! ” He added.

The new Gigafcatory will play a key role in Ola Electric’s EV journey as the OEM aims to become a holistic player in the segment. In addition to two-wheelers, it is already developing four-wheelers, and making batteries will be another of its strengths. Local production of batteries should help curb supply chain constraints and reduce the cost of electric vehicles.

The company first started building the Gigafactory in May this year. The battery gigafactory is located in Krishnagiri, Tamil Nadu, and promises a capacity of 10 gigawatt-hours (GWh) per year. The soon-to-be-constructed manufacturing facility will be able to produce batteries for electric vehicles as well as other battery solutions.

To compete with players from China, Taiwan and South Korea, India has so far not had its own large-scale battery manufacturing. The Indian government is also promoting EVs and is offering incentives to those involved in the industry, including the production of batteries, under the PLI scheme.

First published date: June 21, 2023, 17:16 PM (India Standard Time)

https://auto.hindustantimes.com/auto/electric-vehicles/ola-electric-starts-setting-up-its-second-facility-in-india-41687345059370.html

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