Ola Electric signs PLI agreement with MHI for cell manufacturing.

Ola Electric has 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 of 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 unveiled 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. The company will begin mass production of Li-ion cells in India by 2023.

Ola’s upcoming Battery Innovation Center (BIC), to be operationalized 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.

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