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Ola to make cheaper lithium-ion batteries, will reduce the cost of electric vehicles by up to 30 percent

Currently, companies manufacturing electric vehicles in India depend on countries like China, Taiwan and Japan for SAIL. Due to the import of SAIL, the cost of electric vehicles increases. At the same time, the production of other equipment used in the battery has started in India itself. Ola is currently buying sales for its electric vehicles from LG Chem.

At present, due to the lack of local production of SAIL in India, the cost of electric vehicles is high, due to which the prices of e-vehicles in the market are higher than petrol-powered vehicles. This is hindering the development of electric vehicles in the country.

Ola to make cheaper lithium-ion batteries, will reduce the cost of electric vehicles by up to 30 percent

Economic Times Auto quoted an Ola official as saying that Ola will first use the battery pack manufactured at its plant in its two-wheelers. The company also plans to export cells and battery packs, although exports will start only after the domestic demand is met.

Ola to make cheaper lithium-ion batteries, will reduce the cost of electric vehicles by up to 30 percent

It has been said in the report that Ola is first trying to reduce the cost of its electric vehicles and make it safer. An Ola official said that if the cost of manufacturing e-vehicles is low, then companies will be able to invest more in making them safer. This can ensure an affordable electric vehicle for every customer in future.

Ola unveils the sale

Ola has revealed its sale only last month. The company has set up a Battery Innovation Center at its Future factory in which experts are working to design the cell. Ola’s founder, Bhavish Agarwal had said that they have invested $500 million in building this battery innovation center. It is the largest state-of-the-art innovation center in the world.

This is the company’s most modern research center where 500 engineers and experts will work. Last month, Ola Electric revealed its lithium-ion cell NMC 217. Ola is set to start mass production of SAIL at its Future factory from 2023.

Ola to make cheaper lithium-ion batteries, will reduce the cost of electric vehicles by up to 30 percent

The specialty of Ola’s cell is that it has the capacity to store more energy than ordinary lithium cells used in e-vehicles. Apart from this, its life cycle is also more, due to which it can be used for a long time.

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