Ola Electric, the India-located arm of Ola, an app-based ride-hailing business in India has invested $100 million in the research and development of battery cells for its electric vehicle manufacturing.
- The firm has hired over 200 researchers for the research and development processes.
- The R&D will focus on making lithium-ion battery cells to enable it to innovate and scale faster in terms of technology.
- The firm plans to achieve the capability to make its Li-ion battery cells by 2026.
- The EV maker was queried recently after the scooters it manufactured caught fire, drawing a caution notice from the Indian government.