What’s next for India’s battery manufacturing industry in 2024?

An artistic rendition of Ola Giga Factory. Source: Ola Electric Mobility.

The year 2024 will prove to be a notable year for India's domestic cell manufacturing industry. After years of laying the policy and regulatory groundwork for building a domestic c...

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Govt. invites bids for 10GWh Advanced Chemistry Cell (ACC) battery manufacturing

India's Ministry of Heavy Industries (MHI) on Wednesday (Jan. 24) opened the re-bidding process for the remaining 10GWh capacity under the Production Linked Incentive (PLI)&nb...

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Ola Electric raises ₹3,200 crores for its upcoming battery cell facility

Image for representation purposes only. Source: Ola Electric

Indian EV firm Ola Electric has announced the successful closure of funding round amounting to ₹3,200 crores ($380 million) in a mix of equity and debt from from Tem...

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Ola Electric's ₹6,000 crore IPO: filings by October, roadshows by February

Image: Ola

Electric two-wheeler company Ola Electric will file regulatory papers for an IPO in India before the end of October, and embark on roadshows to drum up investor interest in January...

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MHI appoints Engineers India Limited to monitor progress of ACC-PLI scheme beneficiaries

The Ministry of Heavy Industries (MHI), Government of India on Thursday (August 24) announced that it has appointed Engineers India Limited (EIL) as Independent Engineer ...

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Ola Electric ups the ante on e-scooter production capacity

Ola Electric's founder and CEO Bhavish Aggarwal recently revealed that the E2W brand is stepping up its electric scooter production in the country, with the expansion of its manufa...

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Reliance New Energy, Ola Electric, and Rajesh Exports Ltd signs program pact under ACC-PLI scheme: MHI

Ministry of Heavy Industries has announced that three selected bidders signed the Program Agreement under Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC)...

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Ola Electric to set up Battery Innovation Centre worth $500 million in Bengaluru

Ola Electric has announced that it is investing $500 million (about Rs 4,000 crore) in a cell research and development facility in Bengaluru. In a tweet, Aggarwal stated: "Sharing ...

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Ola Electric introduces NMC 2170, its built-in-house Li-ion cell

Electric vehicles (EV) manufacturer Ola Electric has unveiled its built-in-house lithium-ion cell, NMC 2170. The company has stated that the mass production of its cell from its up...

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EV fire incidents: Serious defects in batteries, design, and modules observed, says DRDO

The Defence Research & Development Organisation (DRDO) which was tasked with investigating EV (electric vehicle) fire incidents by the Union Road Transport and Highways Ministr...

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EV Fires: Gadkari calls for recall; penalty for defaulting companies

The Union Minister for Road Transport and Highways, Nitin Gadkari on Thursday confirmed that the government has constituted an expert committee to enquire into the r...

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Ola Electric investigating S1 Pro e-scooter fire incident, affirms appropriate action

In yet another setback to electric scooter maker Ola Electric on public perception about the company's products and its reliability, a video of its S1 Pro scooter engulfing in flam...

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ACC PLI scheme: Reliance, Ola, Hyundai, Rajesh Exports qualify for incentives

Ola Electric Mobility, Hyundai Global Motors, Reliance New Energy Solar, and Rajesh Exports have successfully cleared the technical bids evaluation by Union Ministry of Heavy Indus...

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Ola Electric invests in StoreDot, an Israeli battery company with XFC tech

Ola Electric has announced that it has invested in an Israeli battery technology company StoreDot, a pioneer in batteries with extreme fast charging (XFC) technology. The investmen...

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LG Chem Power former CEO Dr. Prabhakar Patil inducted onto Ola Electric’s board

Ola Electric has announced that it has inducted Dr. Prabhakar Patil, former Chief Executive Officer of LG Chem Power onto its Board Welcoming Dr. Patil onto the Board of Ola Electr...

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Ola Electric plans to set up 50 GWh battery manufacturing plant in India

Softbank Group-backed Ola Electric has announced that it plans to build a battery cell manufacturing plant in India with a capacity of up to 50 gigawatt-hours (GWh) as part of its ...

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Ola Electric sets up Ola Futurefoundry, its global R&D centre in Coventry, UK

Ola Electric has announced that it has set up a global centre for engineering and vehicle design at Coventry in the UK named Ola Futurefoundry. Ola will invest over $100 million ov...

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Ola Electric raises $200 million in the latest round at a valuation of $5 billion

Ola Electric has announced it has raised over $200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, and others. The latest round values the company at $5 bi...

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