Ola Electric to Invest $100 Million in Battery Gigafactory

  • Ola Electric, a leading Indian electric vehicle maker, has announced a $100 million investment in the first phase of its Gigafactory for lithium-ion battery production.

  • This initial phase (1A) will establish a 1.5 GWh cell manufacturing capacity, with plans to expand to 5 GWh in phase 1B.

  • The domestically produced battery cells will power Ola's electric scooters as early as next year.

  • This investment signifies Ola Electric's commitment to reducing reliance on battery imports and lowering production costs for electric vehicles in India.

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