Ola E-scooters Could Now Cost Up To 25 Percent Less

Local production of lithium-ion cells is expected to reduce cost of batteries as well as EVs

As a result of its Made-in-India Lithium-ion battery, Ola is now aiming at a 20-25 percent reduction in the cost of its electric vehicles. The start of the Bangalore-based EV manufacturer’s gigafactory in India will enable the local production of cells, which could bring down the cost of the battery pack too, by up to 40 percent. The battery pack is the core component of an electric vehicle. Therefore, localising its manufacturing has tremendous benefits on multiple levels of the EV value chain.

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Ola also signed a PLI (Production Linked Incentive) agreement with the Ministry of Heavy Industries (MHI) last month, which should further help the company make battery cells on a large scale. With all other companies relying on imports from different countries for the li-ion cells, this is definitely a big step up for the Indian EV market.

In related news, Ola is all set to launch a sub-1-lakh electric scooter on August 15. Check out more details about it in our exclusive story.