New ventures
Ola Electric plans to build a battery cell manufacturing plant in India with a capacity of up to 50 GWh. The initial plan is to set up 1Gwh of battery capacity by 2023. Ola will need 40Gwh of battery capacity to meet its annual target
This will produce 10 million electric scooters and the rest for electric cars. Ola currently produces about 1,000 scooters a day.
It has a target of two million in the first phase. Ola Electric is backed by Softbank Group.
