Ola Electric’s CEO, Bhavish Aggarwal, released an image of the lithium-ion battery cell they developed themselves. Aggarwal said his company will start mass-producing NMC 21700 cells at its Gigafactory in 2023.
Starting in 2023, Ola will assemble its batteries using its own cells, which is expected to reduce production costs significantly.
The battery cells produced by Ola have nickel, manganese, and cobalt (NMC) on the cathode side, while on the anode side there are silicon and graphite.
The battery is claimed to be able to store more energy in certain areas and to increase its overall life.
Ola emphasized that the battery they developed took into account the weather in India which made it resistant to the scorching heat of summer. Ola also claims the overall cost of ownership will be significantly reduced if using a new cell.
Ola itself has not given technical specifications about the battery cells they are developing.
So far, Ola Electric uses batteries from LG Chem for their electric scooters. By producing their own batteries for electric scooters they are expected to reduce the price by around 30 percent as batteries are the most expensive component in electric vehicles.
The Ola S1 is already a very affordable electric two-wheeler with the equivalent of $1,100 USD. This means that using self-produced batteries could bring the price of the S1 electric scooter down even further — to around $700 to $800.