Recently, the company’s CEO Bhavish Aggarwal has shared this information by tweeting. He said he is making a big investment in the cell technology of the future. Along with this, he further said that he is creating a complete EV ecosystem in India which includes two wheeler, four wheeler, SAIL, along with these to be produced globally. This investment of Ola Electric is the first major global investment.
The company intends to improve R&D on other batteries and other energy systems with its advanced cell chemistry and production. As part of this investment, Ola Electric can now use the XFC battery technology, with Ola also empowered to manufacture batteries that integrate with StoreDot fast charge technology.
The company is planning to set up a gigafactory for the production of SAIL to meet the growing demand from Ola Futurefactory. The company has already submitted its auction for the government’s PLI scheme for modern chemistry cell battery storage. This is going to be a big deal for Ola, with StoreDot also working on 2-minute charge technology.
Ola has started setting up charging stations, with Ola Electric aiming to install over 4,000 such charging points for its electric scooters across India by the end of the year. Hyperchargers are currently being installed at public places like BPCL petrol pumps. Along with this, the company is also setting up charging stations for customers in residential premises.
Ola Electric’s HyperCharge charging stations will be free till June 2022, i.e. customers will not have to pay for charging scooters at these charging stations till June next year. In October 2021, Ola Electric announced the launch of its first hypercharger. The company had said that it will install charging support for its customers under its ‘Hypercharger’ setup which will be installed in over 100,000 locations/touchpoints across 400 Indian cities.
Ola Electric’s Hypercharger can charge the electric scooter from 0 – 50% in just 18 minutes, giving it a charge for a half cycle range of 75 km. The company is offering a home charger unit as standard with each scooter. It is a matter of scooter, the company is also going to bring an electric car in the future, due to which it is investing heavily on charging technology.
The company is preparing to bring an electric car, for some time Bhavish Aggarwal had said that an electric car can be brought in 2023. Ola has launched its two-wheeler in the electric vehicle market of India and now with the launch of the electric car, the company is going to make a big debut in the electric four-wheeler market as well. Ola had revealed a few months back that it would roll out the HyperCharge network across India. In this project, the company will create more than one lakh charging points in 400 cities of India, which will cost more than $2 billion.
If this technology is made available in the Indian market then it can bring a big revolution. If customers get the facility of charging in 5 minutes, then it will be beneficial not only for Ola Electric but also for the entire electric vehicle segment.