Ola Electric introduces lithium-ion cell, mass production to begin by 2023
Electric two-wheeler maker Ola Electric on Tuesday unveiled India's first indigenously developed lithium-ion cell. The Bengaluru-based company said it will begin the mass production of the cell -- NMC 2170, from its Chennai-based Gigafactory by next year.
In a statement, the two-wheeler maker said that the use of specific chemistry and materials enables the cell to pack more energy in a given space and also improves the overall life cycle of the cell.
The cell has been developed keeping the indigenous conditions at the core, the company said.
Ola Electric Founder and CEO Bhavish Aggarwal said, "A cell is the heart of the EV revolution. Ola is building the world's most advanced cell research center that will enable us to scale and innovate faster, and build the most advanced and affordable EV products in the world with speed."
Aggarwal also said that the first indigenously made Li-ion cell is also the first of many in the company's cell technology roadmap.
"Having a robust local EV ecosystem is important for India to become a global EV hub," he added.
Ola Electric noted that it is committed to invest in core R&D to create indigenous advanced cell technologies, strengthen manufacturing capabilities and create an integrated Ola Electric vehicles hub.
The company was recently allocated 20GWh capacity under the ACC PLI scheme by the Government of India for developing advanced cells in the country, and is setting up a cell manufacturing facility with an initial capacity of upto 20 GWh, localising the most critical part of the EV value chain.
The company is also recruiting top cell R&D talent across the globe, and will employ 500 PhDs and Engineers, it stated.
Ola Electric launched its first electric vehicle in August last year and has set up the world's largest two-wheeler manufacturing facility in the country.
It is working towards building a robust roadmap of e-vehicles to accelerate the transition to electric mobility.
The firm at present is also in the process of developing its first electric four-wheeler.
Meanwhile, Ola Electric had earlier said that it has crossed Rs 500 crore revenue in the first two months of FY2022-23.
Amid reports that the company's sales have slowed down, Ola Electric asserted that it is on track to cross the $1 billion (over Rs 7,800 crore) revenue by the end of 2022.
The company said that it has surpassed Rs 500 crore revenue in its first two months of FY22-23 without sharing the total number of vehicles sold during the two months.
It further said it "is on track to surpass $1 billion run rate by end of this year".
