OLA Electric's Gigafactory Under Construction; What Kind Of Capacity Growth Is Underway? | ET Now

But IPO bound Ola Electric plants to invest about $100 million in the first phase of building its gigafactory for producing lithium ion battery cells, Founder and CEO Bhavesh Agarwal said that on Saturday. He also added that Olas electric scooters will feature the locally produced battery cells as early as next year. But ahead of that, the company took us on a tour of the under construction factory in Bangalore along with a look inside their future factory to see Ola's latest products first hand. Srishti is here to tell us more about. What the plan is exactly for this Gigafactory? This is a site under construction which is Ola Giga factory and we all know that Ola has taken a big leap in order to cater to the demand in the cell manufacturing. And for now though the site is under construction but the company says that the installed manufacturing or the installed plant is of around 1.49 GW hours which is expandable to five GW hours and they are expecting that that is the phase one by the end of this year. Now 1.49 GW hours. How much this can cater to in terms of the two Wheeler demand? So as per the company's estimates is around 1000. Scooters that it can cater to with 1.49 GW capacity which is currently in there. But apart from that when they are planning to expand it to the five GW hours, they're expecting to be done by the end of this year. Though the whole process needs a validation. So for the validation in the the cells to get ready to be used in their two Wheelers that will all happen maybe in the next six months. But as we know that this particular plan is under the PLI scheme for the ACC battery manufacturing. And this is quite an interesting and the company has so many phases and the goal is to reach 200 GW hours in future. If you like this video then like, share and subscribe to ET Now.