Sunday, May 19, 2024

Ola Eyes India for its Big EV Plans

Ola has plans to create the largest hub for electric vehicles of the world, in India. This hub will span around 2,000 acres across Tamil Nadu.

Inner details

It will be used to manufacture two-wheeler EVs, cars as well as battery cells. The hub will also house vendor as well as supplier parks. Ola has been facing supply chain inconsistencies when it comes to producing of electric vehicles. Building a hub can help smoothen such creases.

• Ola Electric Mobility Pvt. is looking at an investment of around 76.1 billion rupees for helping localize supply chains for much cleaner transport.

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Ola Eyes India for its Big EV Plans 1

• The startup might begin cell mass production in this hub later during the year.

• The localizing of the critical elements of EV related supply chain, can make EVs affordable. However, Indian has a very small part of raw materials that could help satisfy the domestic demand of lithium-ion cells.

• Crisil reports that the category will see 100- fold growth by 2030. A 2 billion plus worth Government program will further support Ola, Reliance Industries Ltd. and Rajesh Exports Ltd. for supporting advanced cell development.

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• Ola is a Bengaluru-based brand and has recently recalled around 1,441 e-scooters post a fire catching incident on one of the scooters. Ola has repeatedly seen delivery delays due to India’s reliance on imported parts.

Summing up

Ola had unveiled the first lithium-ion category cell developed in Bengaluru, with a $500 million investment. Over the coming decade, Ola is set on developing stable supply chain of materials as well as components.

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Satarupa Bhattacharya
Satarupa Bhattacharya
Satarupa B. Kaur has been writing professionally since a decade now. Always on the go; she loves to travel, books, playtime with her toddler--as she explores new places, amazing food and anything tech!

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