Ola Electric Eyes Expansion: Energizing India’s EV Future

Ola Electric Ltd is negotiating with global and domestic automakers to supply lithium-ion cells and battery packs from its gigafactory in Krishnagiri. This marks a move to expand beyond its electric scooters’ needs, entering the broader electric vehicle and energy storage markets in India.

Ola Electric Ltd is actively engaging with global and domestic automakers to supply lithium-ion cells and battery packs from its Krishnagiri gigafactory, according to insider information. The company aims to extend its reach beyond its electric scooters' captive demand.

Uniquely positioned as the only company in India with a functioning gigafactory, Ola Electric is looking to increase its installed capacity from 6 GWh to 20 GWh by the end of FY28. About one-third of this capacity is intended for third-party sales to automotive original equipment manufacturers, marking a strategic shift in its business operations.

The move comes as part of Ola's broader strategy to strengthen India's electric vehicle and energy storage market, acknowledging the country's reliance on imported battery cells amidst slow progress in local manufacturing incentives. Most of India's commissioned battery capacity is attributed to Ola Electric, highlighting its central role.