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Ola Electric plans to manufacture domestic lithium-ion cells by 2023

by Prosenjit bhattacharya

Date & Time: Jan 02, 2023 9:00 AM

Read Time: 1 minute



Ola Electric, an electric vehicle (EV) manufacturing company, intends to launch its own lithium-ion cell by the end of 2023, an important component in the production of EV batteries.

Currently, India's electric vehicle manufacturers rely on lithium-ion battery cells sourced from China, Taiwan, Japan, and Korea. Ola's cells are currently sourced from LG Chem in South Korea.

"We will be India's first and largest manufacturer of lithium cells. We had been developing the technology for the past two years... we had already developed our own technology without relying on other countries or players "In a press conference on Thursday, Bhavish Aggarwal, founder and CEO of Ola Electric, stated.

According to Aggarwal, the plant's initial capacity will be around 5 gigatonnes (GW). This is the most important component of an electric vehicle battery, and experts believe that manufacturing it in India will reduce the cost of the battery pack by 40-50%. Ola recently announced a $500 million investment in battery innovation as well as 
indigenous R&D. (R&D).

Currently, India's electric vehicle manufacturers rely on lithium-ion battery cells sourced from China, Taiwan, Japan, and Korea. Ola's cells are currently sourced from LG Chem in South Korea.

"We will be India's first and largest manufacturer of lithium cells. We had been developing the technology for the past two years... we had already developed our own technology without relying on other countries or players "In a press conference on Thursday, Bhavish Aggarwal, founder and CEO of Ola Electric, stated.

Also Read: India’s first Lithium Cell Manufacturing Plant to be launched; All you need to know

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