Ola Electric Looks to Develop Its Own Li-ion Cell, Invests $100M in Battery Research

Ola Electric has invested up to $100 million in research and development for its battery cells. This expenditure seems to have worked out as CEO Bhavish Aggarwal announced on Twitter that the company has created its first indigenous battery cell this week.

The battery cells are the most expensive component in electric vehicle manufacturing. With a new li-ion cell of its own, Ola Electric could theoretically reduce costs by 30 percent. In addition to the $100 million spent, it also had 200 researchers working on the process.

[Via]