Ola To Set up a new battery plant in Bangalore, with an investment of $500 Million in a Bengaluru-based cell R&D Facility(Research and development to improve technology that provides competitive advantage in business, and industry).
Ola Electric announces it to invest $500 Million(Approx 4,000 crore ) to set up a state-of-the-art EV battery R&D facility Cell plant in Bangalore with the aim to produce cylindrical, pouch, coins, and prismatic cells, said, Ola CEO and founder Bhavish Agrawal.
Bhavish tweeted, “Sharing something I’m personally very passionate about! Building a state-of-the-art Battery Innovation Center (BIC) in Bangalore“.
As per the company, BIC(battery innovation center) will become the world’s largest advanced cell R&D facility with 165 unique & cutting-edge lab equipment to cover all aspects of cell related to R&D.
BIC also planning to recruit freshers, 500+ engineers, and PhDs which will be supported by around 1,000 researchers across India and the world. they will start recruiting expected to next month.
BIC Center will host prototype lines that can able to produces cylindrical, pouches, coins, and prismatic cells.
Moreover, the Center will also produce a whole package of battery pack designs including fabrications and testing under the root.
BIC Will be equipped to produce anode & cathode material, an integrated facility for nanoscale analysis, molecular dynamical simulation, and crystal structure analysis to develop new gen battery material.
Aggarwal noted also state that “Electric mobility is a high growth sector which is R&D intensive. Ola’s BIC in Bangalore will be the cornerstone for core cell tech development and battery innovation out of India for the world,”
Ola electric required gigawatt hours capacity to give power to 10 million electric vehicles yearly to fulfilled the requirement of the market.
As we all know that there are many competitors of Ola electric in the segment of li-ion battery manufacturers in India such as Loom Solar, Amarraja (Amaron), Reliance, and Hyundai, almost companies have a great position in the market and also belong to the great background. From this point of view, Ola Electric needs more effort to become India’s largest EV battery manufacturer of Li-ion batteries.
Let us talk about the production capacity of companies in India, Loom Solar, ola Electric Amaraja(amron), and Exide.
Loom Solar has a 250MW production capacity, the first manufacturer of lithium batteries to offer a 6Ah to 100Ah range in the consumer market.
Amaron(Amarraja)-EV is an automotive battery maker, hthat as invested 200 million into hub, to develop lithium-ion cells.
Exide industries also have a target over the next 3-4 years, the initial production capacity is 6 GigaWatt hours but now it plans to increase production capacity to 12GWH in 8-10 years.
Ola electric required gigawatt hours capacity to give power to 10 million electric vehicles yearly.