Ola Electric today signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to expand its 2W, 4W and battery manufacturing capabilities. As part of the MOU, Ola will establish an electric vehicle center that will house advanced battery and electric vehicle manufacturing facilities, suppliers and supplier parks, and a larger electric vehicle ancillary ecosystem at one site.
The new center will occupy approximately 2,000 acres in the Krishnagiri and Dharmapuri districts of Tamil Nadu. Last year, Ola launched its first lithium-ion battery, the NMC 2170, which was built at the Battery Innovation Center (BIC) in Bengaluru, Karnataka, at an investment of US$500 million. According to the manufacturer, BIC is one of the largest and most advanced battery research and development facilities in the world, with more than 200 unique pieces of cutting-edge laboratory equipment covering all aspects of battery-related research and development. The world-class innovation center has the capability of one-stop development of complete battery pack design, manufacturing and testing package. By 2023, Ola will start mass producing its batteries starting with its upcoming EV Hub.
Ola CEO Bhavish Aggarwal said, “Our esteemed Prime Minister envisions the next 25 years to be India’s Amrit Kaal. I firmly believe this is our decade and we have a great opportunity to build our future. We are on the cusp of becoming The right track for a global hub for EVs. At Ola, we aim to localize all the key elements of the EV value chain. Ola’s EV Hub will bring the entire EV ecosystem under one roof, making us a key player across the 2Ws Stronger vertically integrated mobile companies, 4Ws and cells.”
Also read: Ola Electric is working on 6 new cars for the Indian market: Details
The manufacturer also recently announced an improved lineup of their electric scooters. Additionally, the brand is also working on electric motorcycles and cars.
First published date: Feb 18, 2023 at 17:44 PM CST