HT Bureau
GUWAHATI, Jan 5: 2022 will be remembered as the year India’s EV revolution truly took off. From just 4000 units a month in June 2021, the monthly run rate reached 80000 units towards the end of 2022, a 20 times growth. From less than 1 percent penetration in 2021 to almost 6 percent in just a year, the EV revolution in India has not only been restricted to urban centers but is proving to be a pan-India phenomenon.
OLA maintained that it is well on course to make India a global hub for EVs. It informed that since its announcement on August 15, 2021, and the construction of the world’s largest 2W plant, Ola has already become the largest EV company in India both by revenue and volume.
It further informed a 3-step strategy to build this future including product diversification and global scale manufacturing whereby it is focusing to make India the third largest market for EVs in the world, behind only US and China; vertical integration into cell technologies and localising relevant supply chains under which it has started operations at its Battery Innovation Center – a world-class facility that will enable more than 1000 researchers to work on the future of cell tech; and global distribution in relevant markets like South East Asia, Latin America, Europe, Africa, etc.
