Summary:

To improve localisation and vertical integration, Ola Electric Mobility has authorised an investment of Rs. 2,000 crore (US$214 million) in its companies that produce EVs and battery cells. By May 2027, the money will be transferred to Ola Electric Technologies and Ola Cell Technologies. This action is intended to increase cost competitiveness in India's expanding EV market, decrease reliance on outside suppliers, and improve manufacturing efficiency. After the investment, Ola Electric will continue to own all of the subsidiaries. Ola is concentrating on battery technology and domestic cell production in the face of growing competition from Ather Energy, Bajaj Auto, and TVS Motor. The company is growing its lithium-ion cell facility in Tamil Nadu and has already invested Rs. 5,300 crore in production and research and development.

Source: IBEF

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