Ola Electric has appointed Prabhakar Patil, the former CEO of LG Chem Power, to its board of directors as the company seeks to develop cell technology and mass-produce Li-ion batteries in India, according to Ola group CEO Bhavish Aggarwal.
In a blog post, Aggarwal stated that the company was investing in core research and development to develop indigenous advanced cell technologies as well as large-scale battery manufacturing.
“We plan to build a cutting-edge cell manufacturing facility in India with a capacity of up to 50GWh. Dr Prabhakar’s expertise will aid the company is speeding up the process of commercialising indigenously designed and manufactured cells “According to Aggarwal.
The government announced on January 15 that Ola Electric is one of ten companies that have submitted bids for the Rs 18,100-crore production linked incentive (PLI) scheme for Advanced Chemistry Cell (ACC) battery storage.
As part of its effort to reduce emissions and lower its fuel bill, the government has taken several steps to encourage the use of electric vehicles. Batteries account for at least 40% of the cost of an electric vehicle, forcing manufacturers to look for ways to reduce costs.
According to Aggarwal, the company is looking for strategic investments in global companies that are working to advance cell chemistry research and other battery technologies, such as fast charging. He claimed that it would assist the electric vehicle manufacturer in providing higher battery density and performance for its upcoming range of two and four-wheelers.
“I look forward to working closely with Dr Prabhakar as we focus and invest more in advanced cell research and large-scale manufacturing to build the best battery technologies right here in India and create a global EV hub with our Futurefactory at its heart,” he said.
Aggarwal also stated on Twitter that the next software update for its electric scooters was “almost ready” and would be rolled out to all users by the end of April. The update is expected to include a slew of new features, including a companion app, cruise control, navigation, and Bluetooth, as well as performance enhancements.
