Ola Cell Technologies Pvt Ltd (OCTPL), a wholly owned subsidiary of Ola Electric Mobility Ltd (OEML), is set to invest over Rs 2,000 crore this fiscal year to expand its lithium-ion cell manufacturing capacity. 

The facility, located in Krishnagiri, Tamil Nadu, has already seen an investment of Rs 1,200 crore as of September 2024, establishing a 1.4-GWh manufacturing capacity under Phase 1(a).

The lithium-ion cells produced at the facility have received BIS certification and are currently in the homologation phase for use in Ola’s electric vehicles. OCTPL plans to integrate these cells into its electric two-wheelers by Q1 FY2026, with production volumes expected to scale up thereafter.

In its Phase 1(b) expansion, OCTPL aims to increase manufacturing capacity from 1.4 GWh to 5 GWh. The company’s long-term vision includes scaling capacity up to 20 GWh in subsequent phases. 

To support this expansion, OCTPL has allocated Rs 2,200 crore for capital expenditure in FY2025, funded through a mix of debt and equity. Additionally, proceeds from the parent company’s IPO will help boost capacity to 6.4 GWh, according to a report by ICRA.