PR95047

BENGALURU, India, March17, 2022/PRNewswire＝KYODO JBN/--

- Reveals its cell manufacturing plans

    Ola Electric, India's leading manufacturer of EVs, has inducted onto its

Board Dr. Prabhakar Patil, former Chief Executive Officer of LG Chem Power.

    Welcoming Dr Patil onto the Board of Ola Electric Mobility, Bhavish

Aggarwal, Founder and CEO, Ola, said, "We are investing deeply in core R&D to

create indigenous advanced cell technologies as well as invest into large scale

manufacturing of batteries. I look forward to working closely with Dr

Prabhakar, as we deepen our focus and investments into advanced cell research

as well as large scale manufacturing to build the best battery technologies

right here in India and create a global EV hub with our Futurefactory at its

center."

    He added, "We have already applied for the government of India's $2.4bn PLI

scheme for developing advanced cells and will set up a cutting-edge cell

manufacturing facility with upto 50GWh capacity right here in India. Dr

Prabhakar's expertise will help us accelerate this process of bringing

indigenously designed and manufactured cells to the market."

    As part of the company's plans to ramp up its core R&D in advanced cell

chemistry & manufacturing as well as other battery technologies and new energy

systems, Ola Electric is scouting for opportunities around the world for

strategic investments into companies focused on advanced cell chemistry

research as well as other battery technologies that will enable the company to

provide higher density and higher battery performance for its upcoming range of

two and four wheeler EVs.

    Upon joining the Ola Electric Mobility Board, Dr Patil said, "I am

delighted to join the Ola team and to do what I can to support their quest to

fundamentally transform major segments of India's electric mobility system to

make it sustainable and self-reliant."

    Dr. Prabhakar Patil joins Mr Arun Sarin, former CEO, Vodafone Group, Mr B V

R Subbu, former President, Hyundai Motor India, Mr Sumer Juneja, Managing

Partner, SoftBank Vision Fund, Mr Jaime Ardila Gomez, Former Executive VP and

President of South America for General Motors, Mr TVG Krishnamurthy and Bhavish

Aggarwal, Founder and CEO, Ola on the company's Board.

    Here is a link to the blogpost by Bhavish Aggarwal, Founder and CEO, Ola:

https://blog.olaelectric.com/ola-electric-appoints-former-lg-chem-power-ceo-prabhakar-patil-to-its-board/

    About Ola

    Ola is India's largest mobility platform. Ola revolutionised urban mobility

by making it available on demand for over a billion people across 3 continents.

Today, Ola continues to move the world to sustainable mobility through its ride

hailing platform as well as through advanced electric vehicles manufactured at

its Futurefactory, the largest, most advanced and sustainable two wheeler

factory in the world. Ola also operates its new vehicle commerce platform with

Ola Cars bringing seamless, digital buying, selling and ownership of vehicles

to consumers. Ola is dedicated to transitioning the world to sustainable

mobility and making the world better than we found it.

    For more details,

    Krishnakoli Dutta

    Corporate Communications, Ola Electric

    media@olacabs.com

    Photo: https://mma.prnewswire.com/media/1768569/Prabhakar_Patil.jpg

    Source: Ola Electric