Ola to announce something big as company’s inflate prices

Bhavish Aggarwal, the chairman and managing director of Ola Electric, stated on Saturday, that the company is working on something really exciting which will be revealed this week.

On X, Aggarwal said, “Working on something very exciting! Announcement in the coming week!”

This comes after Aggarwal previously discussed Ola Electric's ambitious aspirations to produce lithium-ion cells in the country. He stated in a July interview with CNBC-TV18 that the company is preparing to incorporate its domestically produced cells into its EVs by the beginning of the following year.

He proposed that EVs would become more economical if they integrated their own cells. "So far, we have not even brought our own cells into the picture, which will be a core anchor to improve the cost of our EVs," citing Aggarwal CNBC-TV18 reported.

The company has been making investments in cells as it thinks that the development of core technology in India is essential to the future of EVs in that country. “For the electric industry, we must construct lithium cells in India," he continued.

A key component of this effort is Ola Electric's Gigafactory, which is led by seasoned battery manufacturer Hyun Shik Park. Park, who formerly worked for South Korea's LG for more than 36 years, is in charge of the facility's mass cell production.

The Gigafactory's strategic importance was highlighted by the fact that Park received the largest remuneration package in the firm during the previous fiscal year.