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Ola Electric to locally make battery cells under PLI scheme

With this, Ola Electric has become the only Indian EV company to be awarded by the Government under the Advanced Cell Chemistry PLI scheme.

July 28, 2022 / 06:39 PM IST
Ola founder Bhavish Aggarwal

Ola founder Bhavish Aggarwal

Indian electric vehicle (EV) maker Ola Electric on July 28 signed an agreement under the Government of India’s production-linked incentive (PLI) scheme to manufacture advanced cells in the country.

With this, Ola Electric has become the only Indian electric vehicle company selected by the government under its ambitious Rs 80,000 crore cell PLI scheme, receiving the maximum capacity of 20 GWh for its bid in March.

Bhavish Aggarwal, CEO and Founder, Ola, said: “Today, 90 percent of global capacity for cell manufacturing is in China, and to reverse this import dependency locally manufactured cell technology is key. The ACC PLI scheme will be instrumental in making India self-reliant and localizing the most critical aspects of the EV value chain. At Ola, our roadmap to develop cell technology and manufacturing is vigorously progressing; making us a stronger vertically integrated mobility company across - products, mobility services and tech.”

Notably, Ola had recently unveiled India's first indigenously developed lithium-ion cell, NMC 2170, and is also invested in developing R&D to create indigenous advanced cell technologies. To begin mass production of its cell from its upcoming 50 GWh Gigafactory, the EV maker has roped in global suppliers from Germany, Korea, Japan, among other hubs.

Ola’s upcoming Battery Innovation Center (BIC), which is set to become operational from August, is expected to be “the cornerstone for core cell tech development and battery innovation out of India for the world”, the company said in a release.

It added: “The BIC will house advanced labs and high-tech equipment for battery innovation for developing futuristic and localised cell technology. The company is also recruiting top cell R&D talent across the globe, and will employ 500 PhDs and Engineers.”
Moneycontrol News
first published: Jul 28, 2022 06:39 pm
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