Ola Electric’s Gigafactory Construction Starts
Modified On Jul 14, 2023 03:56 PM By Nishad
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Operations to commence in early 2024, starting with a 5GWh capacity
Ola Electric has announced the construction of India’s largest gigafactory (battery cell manufacturing plant). The company has installed the first pillar of its factory and plans to begin operations in early 2024. Ola claims this will be one of the fastest-built Gigafactory, spread across 115 acres in Krishnagiri, Tamil Nadu.
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The cell production will start gradually in phases from a 5GWh capacity and in later stages will be moved to a maximum capacity of 100GWh. The company has also signed a Memorandum of Understanding (MOU) with the Government of Tamil Nadu to further expand the manufacturing of two-wheelers, four-wheelers and battery cells in India. Once the cells are localised, the cost of the battery pack will go down considerably, and as a consequence, Ola’s existing electric scooters’ prices will go down, helping the brand price its upcoming products more competitively. This move will also help in curbing the price hikes caused by the reduction in FAME 2 subsidy. Here’s how much more expensive the Ola S1 range has become now.
Bhavish Aggarwal, Founder and CEO of Ola, also recently teased a new Ola e-scooter, which will make its debut at the Ola product event in July. We anticipate this scooter might be a classic version of the Ola S1 Pro. Stay tuned for further updates.
