The company is best known as a maker of two-wheeled EVs, with a range of scooters and bikes, but it also currently offers two battery energy storage system (BESS) products for residential and small-scale commercial and industrial (C&I) customers.
Also central to Ola Electric’s business model is the company’s first-mover position in battery cell production within India. Ola Electric was one of the recipients of a share of Union Government funding to start production of advanced chemistry cell (ACC) batteries under the Production Linked Incentive (PLI) scheme.
The PLI for ACC manufacturing launched in 2021. It targeted support for 50GWh of annual domestic cell manufacturing capacity, to be online by 2025.
As of May this year, Ola Electric remained the sole PLI scheme winner to have commissioned production capacity, bringing 1.4GWh online, Charith Konda and Dhruv Garg of the Institute for Energy Economics and Financial Analysis (IEEFA) wrote in a Guest Blog for Energy-Storage.news on India’s battery supply chain.
‘Strong interest from potential partners’
