Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Ola Electric is planning to set up a lithium-ion battery (Li-ion) manufacturing facility at its integrated plant near Bengaluru in the Indian state of Karnataka. Li-ion batteries contain nickel, and are the major source of power for electric vehicles. 

According to a media report, Ola will use these batteries for its electric scooters which will be launched soon. Raw material will be initially sourced from South Korea. 

According to previous statements by the company, a network of battery swapping stations will be set-up to facilitate the cab-hailing service’s switch to electric mobility. 

In December 2020, Ola Electric had signed an MOU with the state government of Tamil Nadu for setting up a mega electric two-wheeler factory. 

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