Ola Electric, the electric vehicle manufacturer, has initiated the construction of its inaugural cell gigafactory in Krishnagiri, Tamil Nadu. Bhavish Aggarwal, CEO of Ola, announced this significant step in a tweet, highlighting the factory’s ambition to become India’s largest and one of the world’s foremost cell production facilities. The accompanying tweet featured visuals of the ongoing construction work.
This development coincides with Tesla, led by Elon Musk, engaging in discussions with the Indian government about establishing its manufacturing plant in the country. Ola’s strategic move to build its own gigafactory aligns with its 2022 announcement by CEO Bhavish Aggarwal, revealing the company’s intention to introduce its lithium-ion cell by the conclusion of 2023. These cells are crucial components in the batteries powering electric vehicles (EVs). Presently, Indian EV manufacturers heavily rely on countries such as China, Taiwan, Japan, and Korea for the supply of lithium-ion battery cells.
Ola’s gigafactory in Krishnagiri aims for an initial capacity of 5 gigawatts, positioning itself as a pioneer in lithium cell manufacturing within India. Bhavish Aggarwal emphasized the company’s self-reliance, stating, “We will be India’s first and largest lithium cell manufacturers,” highlighting the two-year effort to develop proprietary technology without external dependencies.
Situated in Krishnagiri, the gigafactory is slated to focus initially on meeting the requirements of Ola’s electric bikes, with plans to eventually explore monetization and broader market availability. Looking ahead to Ola Electric’s 2023 agenda, Aggarwal outlined the company’s commitment to manufacturing motorbikes, lithium-ion cells, and venturing into the realm of small and lightweight commercial vehicles. The strategic investment focus for the upcoming year revolves around expanding product offerings and solidifying Ola’s presence in various segments of the electric vehicle market.
