Ola Electric to locally make battery cells under Centre's PLI scheme

Ola Electric is investing about $500 million for setting up its battery innovation centre (BIC) in Bengaluru

Ola Electric said it has signed an agreement under the Centre’s production-linked incentive (PLI) scheme to manufacture advanced cells in India. SoftBank-backed Ola said it is the only Indian electric mobility company selected by the Government of India under its ambitious Rs 80,000-crore cell PLI scheme, receiving a maximum capacity of 20 gigawatt hour (GWh) for its bid in March.

“Today, 90 per cent of global capacity for cell manufacturing is in China. To reverse this import dependency, locally manufactured cell technology is crucial,” said Bhavish Aggarwal, chief executive officer and founder, Ola, adding, “The advanced chemistry cell PLI scheme