The company is set to start producing new batteries from the EV Hub in 2023.
Ola Electric has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to invest Rs 7,614 crore in order to expand its manufacturing capabilities across 2W, 4W and cells. The company is set to begin mass production of its cells from the upcoming EV Hub in 2023.
- The new facility will house cell and electric vehicle manufacturing facilities
- Will be spread over 2,000 acres, making it the world’s largest EV facility in a single location
As part of the Memorandum of Understanding, Ola will establish an EV Hub, which will house state-of-the-art automotive and electric vehicle manufacturing facilities, a vendor and supplier park, and a sub-ecosystem. greater support for EVs at a single location, the company said in a statement. The company claims to be located in the Krishnagiri and Dharmapuri districts of Tamil Nadu, the Ola Tram Center will be the world’s largest tram facility in a single location, spanning approximately 2,000 acres.
Bhavish Aggarwal, CEO of Ola said: “Our respected Prime Minister envisioned the next 25 years as Amrit Kaal in India. I firmly believe that this is our decade and we have an opportunity. great to build our future on. We’re on the right track to becoming a global hub for electric vehicles. At Ola our goal is to localize all the key elements. Ola’s electric vehicle hub will bring the entire EV ecosystem under one roof, making us a much stronger vertically integrated mobility company over 2Ws , 4Ws and cells.”
Last year, Ola reveals its first Li-ion cell, NMC 2170, built at the Battery Innovation Center (BIC) in Bangalore, Karnataka with a $500 million investment. BIC is one of the world’s largest and most advanced cellular R&D facilities with more than 200 unique and cutting-edge laboratory equipment to cover all aspects of cell-related research and development. , the company claims. The innovation center is equipped to develop complete packages of battery pack design, fabrication and testing under one roof.
Over the next decade, Ola will focus on building local supply chains for new materials and components. This will include motors, rare-earth magnets, power electronics, semiconductors, lithium processing and electrode manufacturing from minerals such as Graphite and Nickel.
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