Ola to invest over Rs 7,600 crore in electric cars & batteries

TusharK · 20th February 2023, 12:43

Ola Electric plans to invest Rs 7,614 crore in India to manufacture electric cars and EV batteries.

Ola to invest over Rs 7,600 crore in electric cars & batteries-ola_1631558512230_1631558516765.jpg

Ola Electric has signed a memorandum of understanding (MoU) with the Tamil Nadu government to produce electric cars and build a lithium-ion battery manufacturing unit with a capacity of 20 GW. The new facilities will be part of an EV hub housing vendor and supplier parks.

According to the company, the planned EV hub will be one of the largest, bringing the entire EV ecosystem under one roof. It will be spread over 2,000 acres and will help in the creation of 3,111 jobs.

Ola recently surpassed the production milestone of 1,00,000 units and aims to build 1,40,000 electric cars per year. The company’s Battery Innovation Centre in Bangalore has developed a lithium-ion cell, which is likely to be mass-produced at the new facility.

Source: HT

Link to Team-BHP News

QuentinTino · 20th February 2023, 18:56

Ola faced a few hiccups in the beginning but is now on the right track.
With just two domestic players in the market for four wheelers I can totally envision Ola to be a worthy contender to be the third.

That is, of course, if it plays it’s cards right.

volkman10 · 25th July 2024, 20:51

Ola Electric suspends car project to focus on scooters, bikes!

Link:

bijims · 26th July 2024, 05:36

They were going a bit too fast, they have got into scooters, the natural progression should be bikes and then three-wheelers (where there is a huge opportunity) and finally, when they have a product which can compete with established players on price and features, they should go into making cars.

Focussing on developing in-house batteries for all these vehicles should help them keep costs in check too.

20th February 2023, 12:43	#1
TusharK Senior - BHPian Join Date: Jul 2017 Location: Pune Posts: 6,638 Thanked: 58,396 Times	Ola to invest over Rs 7,600 crore in electric cars & batteries Ola Electric plans to invest Rs 7,614 crore in India to manufacture electric cars and EV batteries. Ola Electric has signed a memorandum of understanding (MoU) with the Tamil Nadu government to produce electric cars and build a lithium-ion battery manufacturing unit with a capacity of 20 GW. The new facilities will be part of an EV hub housing vendor and supplier parks. According to the company, the planned EV hub will be one of the largest, bringing the entire EV ecosystem under one roof. It will be spread over 2,000 acres and will help in the creation of 3,111 jobs. Ola recently surpassed the production milestone of 1,00,000 units and aims to build 1,40,000 electric cars per year. The company’s Battery Innovation Centre in Bangalore has developed a lithium-ion cell, which is likely to be mass-produced at the new facility. Source: HT Link to Team-BHP News
	(7) Thanks

20th February 2023, 18:56	#2
QuentinTino BHPian Join Date: Apr 2021 Location: Dehradun Posts: 96 Thanked: 485 Times	Re: Ola to invest over Rs 7,600 crore in electric cars & batteries Ola faced a few hiccups in the beginning but is now on the right track. With just two domestic players in the market for four wheelers I can totally envision Ola to be a worthy contender to be the third. That is, of course, if it plays it’s cards right.
	() Thanks

25th July 2024, 20:51	#3
volkman10 Distinguished - BHPian Join Date: Dec 2010 Location: -- Posts: 24,075 Thanked: 71,263 Times View My Garage	Re: Ola to invest over Rs 7,600 crore in electric cars & batteries Ola Electric suspends car project to focus on scooters, bikes! Link:
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26th July 2024, 05:36	#4
bijims BANNED Join Date: Aug 2022 Location: Muscat Posts: 1,001 Thanked: 2,717 Times Infractions: 0/1 (4)	Re: Ola to invest over Rs 7,600 crore in electric cars & batteries They were going a bit too fast, they have got into scooters, the natural progression should be bikes and then three-wheelers (where there is a huge opportunity) and finally, when they have a product which can compete with established players on price and features, they should go into making cars. Focussing on developing in-house batteries for all these vehicles should help them keep costs in check too.
	() Thanks