Today’s world is focused on transitioning away from traditional motorised vehicles and toward the newer, more environmentally friendly electric vehicle.
The current market requires skilled electronics, electrical, or mechatronics background engineers for the development of a suitable battery management system (BMS).
Attributing to the same, OLA Electric has established its R & D center, which has currently invested in the Israeli company StoreDot. which has promised its 5-minute charge battery system in return.
What is StoreDot and its Battery Charging System?
StoreDot is a leading developer of fast-charging EV batteries, powerful nanotechnology supplemented with live molecules, developed by AI, and developed into a wide-ranging R&D system for a wide range of products for rapid mass production.
StoreDot is best known for its fast-charging silicon battery cells. The battery company has recently announced that it will introduce 160 miles [160 km] of rechargeable battery cells in just five minutes.
StoreDot says they will be able to continue to improve that fast charging performance, gaining a level of charging of almost 100 miles in just two minutes by the end of the decade.
Ola Electric Development
Ola Electric Mobility is an Indian company known for its two-wheeled electric vehicles based in Bangalore. The manufacturing plant is in Krishnagiri, Tamil Nadu.
Ola Electric was founded in 2017 as a subsidiary of ANI Technologies, the parent company of Ola Cabs. The company was established to reduce the emissions and fuel dependence of the Ola cab and move towards large-scale electric mobility.
The pilot program started in Nagpur in May 2017 by installing charging stations throughout the city and purchasing electric taxis, electric buses, and rickshaws from OEM partners.
Ola Electric announced in May 2020 that it would acquire Amsterdam-based electric scooter manufacturer Etergo. The aim was to have a line of electric scooters available as an option for taxis.
Ola Electric began shipping the S1 and S1 Pro models in December 2021 and has shipped 100 scooters to Bangalore and Chennai.
The Investment Made by Ola Electric
Ola Electric will benefit from the latest StoreDot XFC battery technology, which charges the battery from 0% to 100% in just 5 minutes.
The exclusive rights to manufacture StoreDot fast-charge batteries in India will go to an Indian company valued at $5 billion in January.
The company also plans to set up a gigafactory to produce elements to meet the demand it creates. The company claims it has already applied under the Indian Government’s Production Related Incentive (PLI) Incentive Scheme for Advanced Chemistry Cell Battery Storage.
Conclusion
“The future of electric vehicles is the batteries, which provide more energy density, faster charging, and faster overall operation in general. We are partnering with global companies that do cutting-edge work in the field while increasing our investments in key cell and battery technologies, which grow our in-house capabilities and global talent pool.”
– said Bhavish Aggarwal, Founder and CEO Ola.
Ola has now joined StoreDot’s wide range of well-known investors and partners including Daimler, VinFast, BP, Samsung, TDK, and EVE Energy.
The company is currently conducting field trials with advanced silicon-dominated “100in5” cell designs and is working closely with major automakers on next-generation EV architectures.
Read More : How Ola Electric Scooter could be the Game Changer in Two-Wheeler Industry
