Softbank Group-backed Ola Electric plans to build a battery cell manufacturing plant in India with a capacity of up to 50 gigawatt-hours (GWh) as part of its broader electrification push. Ola will need 40Gwh of battery capacity to meet its annual target to produce 10 million electric scooters and the remainder will be for electric cars, which it plans to manufacture in the future. The initial plan is to set up 1Gwh of battery capacity by 2023 and expand it to 20GWh over the next 3-4 years. Ola, which currently imports battery cells from South Korea, also intends to invest in companies with progressive cell and battery technology and will set up a battery research and development facility in India. Battery cell manufacturing is currently dominated by Asian giants including CATL, LG Energy Solutions, and Panasonic that supply to prominent global automakers like Tesla Inc and Volkswagen.
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