Ola's Battery Breakthrough: 5x Power, Production in 2025

Ola Electric is set to make a significant leap in the electric vehicle industry with its new battery cells, which promise five times the energy density of existing South Korean imports. The company’s Gigafactory in Tamil Nadu, currently in the trial production phase, is gearing up for commercial production of these groundbreaking cells by early 2025. This move marks a pivotal moment for Ola Electric as it seeks to enhance its energy storage capabilities and reduce dependency on foreign components.

The introduction of these indigenous battery cells is expected to have a profound impact on Ola Electric's operations. With the battery cell being a major cost component, representing about one-third of the total cost of an electric two-wheeler, this innovation will not only lower costs but also diminish import reliance. Bhavish Aggarwal, Chairman and Managing Director, highlighted that the new cells’ larger size and superior energy capacity will play a crucial role in achieving these goals.

Harish Abichandani, the Chief Financial Officer, confirmed that commercial production at the Krishnagiri district Gigafactory is on track to begin by the end of this year or early next year. This development aligns with Ola’s broader strategy to cut import costs and boost local production capabilities, as showcased during their recent ₹6,100 crore IPO announcement.

The advancement in battery technology signifies a major step forward for Ola Electric, positioning the company to lead the charge in the electric vehicle sector with more efficient, cost-effective solutions.

News by Rahul Yelligetti