Ola Electric to launch its own LFP cells next quarter
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Ola Electric just announced it's building its own lithium-iron-phosphate (LFP) battery cells, aiming to launch them as early as next quarter.
This move is all about cutting costs and making electric vehicles more accessible, as Ola shifts away from the pricier nickel-manganese-cobalt (NMC) batteries.
Ola gigafactory expanding to 6 GWh
These new LFP cells will be made at Ola's expanding gigafactory, which is growing from 2.5 GWh to 6 GWh capacity.
CFO Deepak Rastogi says the tech is ready to go, building on its earlier Bharat Cells.
LFP chemistry means better safety and longer life, perfect for India's conditions, and fits right into Ola's bigger plan to push electric vehicles and say goodbye to gasoline engines.