Ola Electric, a winner of the Centre’s flagship Rs 18,100 crore production-linked incentive (PLI) scheme for advanced chemical cells (ACC), unveiled the “Bharat” battery cell — an indigenous 4680 cell developed in-house — on Thursday.
Claiming over 70 patents related to this technology, Ola Electric’s founder and chief executive officer (CEO) Bhavish Aggarwal said, “We didn’t import the tech, we built it ourselves.”
At the Ola Electric Sankalp 2024 event, Aggarwal detailed the company’s plan to revolutionise energy in India. The phased approach begins with 5 GWh cell manufacturing in 2024, scaling up to 20 GWh by 2026, and aiming for 100 GWh by 2030. He also announced that Ola Electric plans to start integrating the 4680 cell into its products by April 2025.
The Bengaluru-headquartered electric vehicle manufacturer was awarded 20 Gigawatt hours (GWh) out of the 50 GWh allocated under the PLI scheme. Other recipients include ACC Energy Storage and Reliance New Energy Battery Storage.
The company has also informed the Ministry of Heavy Industries (MHI), the nodal ministry for the ACC PLI, that it has already completed pilot production of approximately 10,000 cells, senior officials told Business Standard.
The ACC PLI scheme aims to achieve self-reliance in battery technology for India’s electric vehicle industry. Industry estimates suggest that the battery accounts for 30-50 per cent of the cost of an electric two-wheeler, depending on the capacity and chemistry of the battery. By sourcing indigenous cells, the cost of EVs is expected to decrease, making them more affordable.
The “Bharat” cell boasts impressive performance characteristics, offering five times more energy density than the 2170 cells currently used in Ola’s scooters. It also promises faster charging times, contributing to a more convenient user experience, the company claims.
The company’s GigaFactory is being constructed in Krishnagiri, Tamil Nadu in phases, with Phase 1 targeting a 5 GWh capacity.
First Published: Aug 15 2024 | 6:00 PM IST
