Ola Electric Signs Pact With Govt To Make EV Battery Cells In India
Company’s CEO hints at large-scale indigenous EV battery cell manufacturing in India
After revealing made-in-India Li-ion batteries earlier this month, Ola Electric has now signed a PLI (Production Linked Incentive) agreement with the Ministry of Heavy Industries (MHI) for indigenous EV battery cell manufacturing in India.
This makes Ola the only Indian EV company to be selected by the government under its Rs 80,000 crore cell PLI scheme, receiving the maximum capacity of 20GWh for its bid in March. The breakup for the PLI scheme includes Rs 25,938 crore for Automobile and Auto components, Rs 18,100 crore for Advanced Chemistry Cell (ACC) battery storage and Rs 10,000 crore for a sustainable EV-based system. Out of this, Ola Electric becomes the only Indian EV manufacturing company to be selected for the Rs 18,100 crore PLI scheme for Advanced Chemistry Cell (ACC) battery storage. The EV maker has said that it’ll begin mass production of lithium-ion cells by 2023.
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Besides this, Ola Electric CEO Bhavish Aggarwal announced through his twitter account, the company’s intention to build and manufacture more EV-related tech locally. Ola’s upcoming Battery Innovation Center (BIC), which will be operational from August, will be the hub for the company’s R&D.
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- a dependable and effective electric scooterOLA S1 scooter is very unique! This is a fantastic alternative to explore if an electric vehicle (EV) is something you're thinking about. It easily beats the other options on the market. It has a stylish look, great performance, and a ton of functions. An adequate range is possible on a single charge thanks to the reliable battery life. Additionally, it's environmentally friendly, so you're also helping the planet. With the S1, OLA has truly outdone itself by offering a dependable and effective electric scooter that sticks out from the crowd. If you're shopping for an EV, give the OLA S1 considerable consideration.Read More1