Ola to fund $500 million in new battery R&D centre in Bengaluru
Ola Electric, the electric vehicle (EV) arm of ride-hailing app Ola, is planning to invest $500 million in battery innovation and indigenous cell research and development.
It will also set up a Battery Innovation Centre (BIC) in Bengaluru.
The company said the facility will have around 165 pieces of lab equipment to cover all aspects of cell-related R&D
The BIC “will be the cornerstone for core cell tech development and battery innovation out of India for the world. It will house advanced labs and high-tech equipment for battery innovation and will power India’s journey towards becoming a global EV hub,” said Ola Electric chief executive Bhavish Aggarwal.
Ola will also begin production of the cell from its upcoming Gigafactory by 2023, the company said in a statement.
“Ola recently unveiled its first Li-ion cell, NMC 2170. Built in-house, we will begin the production of its cell from the upcoming Gigafactory,” it said.
The BIC will also recruit top global talent including 500 PhDs and engineers who will be supported by an additional 1,000 researchers in India and multiple other global centres, the firm said.
Ola Electric has already invested around $100 million in R&D of lithium-ion battery cells, according to reports from brokerages ICICI Securities and Edelweiss.
It has employed over 200 researchers for the R&D process, according to the reports.
BIC labs will have research equipment, including X-ray photoelectron spectroscopy machines (XPS), latest CT scan equipment for Non-Destructive Testing (NDT) for cell and pack imaging, a double planetary mixer, lab slot die coater, electrode fabrication unit, an automated assembly line for manufacturing cylindrical and pouch cells among others, Aggarwal added.
The company was recently also allocated 20 GWh capacity under the Advanced Chemistry Cell (ACC) production-linked bonus (PLI) scheme by the government for developing advanced cells in India and is setting up a cell manufacturing facility with an initial capacity of up to 20 GWh.
Currently, Ola Electric sources battery cells from South Korea-based LG Chem for its electric scooters. Battery cells are the most expensive component in an EV, and manufacturing these can cut costs by around 30%.
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