Friday, 12 Sep, 2025
By: Deepak Maggu
The sales of EVs in India have been registering significant growth in the last few years. Around 4,29,217 EVs were sold in FY 2021-22 as against 1,34,821 in the previous FY 2020-21.
Ola will invest US$ 500 million (nearly Rs 4,000 crore) to set up its state-of-the-art Battery Innovation Center in Bangalore. Ola Founder and CEO Bhavish Aggarwal tweeted on July 18 that Ola is building a Battery Innovation Center (BCI) in Bangalore, which will be the one of the world's largest and most advanced cell R&D facility. According to the company, for this facility, it will hire the top talent of the industry, which will have more than 500 PhDs and engineers.
The EV sector is growing rapidly in India, and OLA wants to quickly capture the vacant space in this market. Last year, the company made its intentions for the two-wheeler electronic market by launching its two electric scooters, S1 and S1 Pro. But now the company is ready to make its mark in the four-wheeler segment as well. That's why Ola wants to strengthen its legs before competing with big companies like Tata, Mahindra, Kia, and Mercedes. This cell R&D facility is part of this policy. This facility will help Ola manufacture EVs in larger quantities and at a lower cost in less time. Ola has already teased its EVs, whether it is an SUV-coupe or a large sedan. Along with this, the company is also planning to launch a hatchback.
The sales of EVs in India have been registering significant growth in the last few years. Around 4,29,217 EVs were sold in FY 2021-22 as against 1,34,821 in the previous FY 2020-21. Compared to year on year, this is an increase of almost 200%. Similarly, if we only consider two- and three-wheelers, 2,31,338 units were sold in FY 2021-22 and 1,17,874 units in 2020-21. The main rivals in this sector are Tata Motors with 15,198 units; MG Motors, second with 2045 units; and Mahindra & Mahindra, third with 156 units sold in the four-wheeler electric segment. At the same time, in the two-wheeler segment, Hero Electric is at the top with 65,303 units, followed by Okinawa with 46,447 units, Ampere Vehicle with 24,668 units in the third position in FY 2021-22. However, smart and innovative players in the two-wheeler market, Ather Energy and Ola Electric, stood at the fourth and sixth positions, selling 19,971 units and 14,371 units, respectively.
According to the government of India, by 2030, 80% of two-wheelers, 40% of buses, and at least 30% of cars will be electric. To achieve this, the government kept schemes like FAME 2 and PLI, so that more and more electronic products are manufactured in India and the price is kept low. Apart from this, a separate subsidy is being given by the states on electric vehicles. As a result, the market for electric vehicles is developing rapidly.
