Posted on 23 Feb 2023
Indian electric vehicle company Ola Electric Mobility plans to invest INR 76.1 billion ($918.88 million) to construct an EV centre in Tamil Nadu, South India, Kallanish learns.
Ola aims to make this centre the largest EV centre in the world in order to localise the supply chain and help India achieve a more environmentally friendly transport system.
According to its announcement, this centre will be used to produce electric vehicles, two-wheelers, and batteries. It is said it will start mass-producing batteries at the end of this year.
Supply chain shortages remains a major issue for domestic EV and battery production in India. So far, only a small portion of raw materials demanded for EV lithium-ion battery production can be supplied internally. The chip shortage is also a major threat to mass delivery delays.
Ola claimed it has invested $500m to launch the first lithium-ion battery in an innovation centre in Bangalore.
Source:Kallanish
