Ola Electric IPO Update: Prices of EV scooters will decrease, know what else Bhavish Aggarwal said…

Ola Electric IPO Update: The IPO of loss-making company Ola Electric has opened from today. This is the first IPO of the EV industry in India. Its price band has been fixed at ₹ 72-₹ 76. Before this IPO, the team of Dainik Bhaskar visited Ola's Giga Factory and Future Factory.

During this, the company's CEO Bhavish Aggarwal said – 'By the beginning of next year, our scooters will have their own cells. We want to reduce the cost of EVs. For this, we have developed low-cost and high-performance lithium-ion battery cells.'
Ola's e-scooters can be 30 to 40% cheaper
According to experts, if Ola uses its own cells in electric scooters, then their cost can be reduced by 30 to 40%, because currently the battery is the most expensive part in electric vehicles. Currently, the company is buying battery cells from South Korea and China.
Research and development work is going on at the Ola Battery Innovation Center in Bengaluru. The prototypes made there will be used to manufacture cells on a large scale in the future. This will eliminate the need to import cells from outside and the company will be able to keep the price of its scooter low.
Battery price is the biggest challenge for EV manufacturers
Battery pricing also remains a challenge for other electric vehicle manufacturers, as the companies do not manufacture batteries themselves or manufacture them in small quantities. Still, core manufacturers have a large share of the battery manufacturing market.