Ola Electric, a subsidiary of Ola Cabs plans to set up a cell manufacturing unit for its Lithium-Ion battery to be used in Ola’s soon-to-be launched two-wheeler electric vehicles. Ola Electric’s new cell manufacturing unit will be integrated with the company’s two-wheeler electric vehicle manufacturing plant at Bengaluru. On completion, this factory will be among the first few Li-ion cell manufacturing facilities in India.
Initially, Ola will be importing the needed batteries from South Korea. Currently, all the cells used for EV batteries in India are imported. South Korea, China, and Japan account for nearly 85 percent of global cell production.