Ola signs PLI agreement with Ministry of Heavy Industries for local battery cell manufacturing
- Only Indian EV company to be awarded by the govt under Advanced
Cell Chemistry (ACC) PLI scheme - Ola Electric will begin mass production for lithium ion-cells by 2023
Ola Electric, India’s largest EV company has today signed the agreement under the Production Linked Incentive (PLI) scheme by the Government of India to manufacture advanced cells in India.
Ola Electric is the only Indian EV company selected by the government under its ambitious Rs 80,000 crore cell PLI scheme, receiving the maximum capacity of 20 GWh for its bid in March.
Bhavish Aggarwal, CEO and Founder, Ola, said, “Today, 90% of global capacity for cell manufacturing is in China, and to reverse this import dependency locally manufactured cell technology is key. The ACC PLI scheme will be instrumental in making India self-reliant and localizing the most critical aspects of the EV value chain. At Ola, our roadmap to develop cell technology and manufacturing is vigorously progressing; making us a stronger vertically integrated mobility company across – products, mobility services and tech.”
Ola had recently unvieled India’s first indigenously developed lithium-ion cell, NMC 2170 and is investing heavily in developing core R&D to create indigenous advanced cell technologies.
To begin mass production of its cell from its upcoming 50 GWh gigafactory, Ola has already roped in global suppliers from Germany, Korea, Japan and other hubs.
Ola’s upcoming Battery Innovation Center (BIC), to be operationalised in August, will be the cornerstone for core cell tech development and battery innovation out of India for the world.
BIC will house advanced labs and high-tech equipment for battery innovation for developing futuristic and localized cell technology. The company is also recruiting top cell R&D talent across the globe, and will employ 500 PhDs and Engineers.
