Ola Electric Plans ₹2,000 Crore Stake Sale in Battery Arm Ola Cell Technologies
Ola Electric has initiated plans to raise up to ₹2,000 crore by selling a stake in its battery subsidiary, Ola Cell Technologies (OCT), according to sources familiar with the matter. Investment banks Avendus and Motilal Oswal Financial Services have been mandated to manage the fundraising process. The move comes as the electric vehicle maker seeks to restructure operations and strengthen its balance sheet as part of a broader business turnaround strategy.
OCT owns the lithium-ion cell manufacturing gigafactory in Tamil Nadu, which currently has an operational capacity of 1.5 GWh and is expected to scale up to 6 GWh by the end of the current financial year. The gigafactory, built with an initial investment of ₹3,500 crore, represents a major step toward localising battery cell production in India and reducing dependence on imported battery cells while strengthening the domestic electric vehicle supply chain.
The subsidiary also houses Ola’s Battery Innovation Centre, which employs over 200 specialists from global corporations and holds nearly 400 patents across various battery technologies. These include work on multiple chemistries such as NMC, LFP, LMFP and LMR, along with different form factors including cylindrical, prismatic and solid-state cells. The company has also developed dry electrode manufacturing technology and the 4680-format Bharat Cell, which is already being commercially produced and used in Ola Electric vehicles for more than six months.
Pic Courtesy: google/ images are subject to copyright
