The electric car division of the ride-hailing company, Ola Electric, is investing roughly $500 million to build its battery innovation centre (BIC) in Bengaluru.
According to Ola, which is run by Bhavish Aggarwal, BIC will be one of the largest and most sophisticated cell research and development (R&D) facilities in the world, equipped with more than 165 pieces of ‘unique and cutting-edge’ laboratory equipment to handle all facets of cell-related R&D.
The duration of the investment was kept a secret by the corporation. However, reports claim that it takes three to five years.
In India, the electric two-wheeler manufacturers Ather Energy, Hero Electric, Bajaj, TVS Motor Company, Bounce, and Boom Motors are now directly competing with SoftBank-backed Ola. The company also intends to introduce robotaxis, motorbikes, sport utility vehicles, and electric automobiles.
