Ola’s Electric Scooters to get 25 % cheaper thanks to locally produced lithium ion cells

Ola Electric is all set to locally produce lithium ion cells, and doing this will result in the company’s electric scooters getting cheaper by a whopping 25 %. Currently, the Ola S1 Pro – the brand’s only electric scooter on sale – is priced at Rs. 1.53 lakh, on-road Bangalore. Producing the lithium ion cells locally is expected to reduce battery prices by about 40 %, which when set against the overall price of the electric scooter, will result in a 25 % price cut.

A 25 % price reduction on the back of locally produced lithium ion cells will reduce the starting price of the Ola S1 Pro to about Rs. 1.2 lakh, making it extremely attractive to buyers. You’ll have to wait another year for Ola electric scooter prices to fall though. Ola Electric plans to begin producing lithium ion cells at its GigaFactory, which will begin production sometime in 2023.

Lithium Ion cells aren’t manufactured in India but are imported from countries such as China, South Korea, Taiwan and Japan. Importing these cells adds a significant amount of cost to the final price of electric vehicles, making them quite unaffordable for most buyers. Local production will not just reduce price of Ola electric scooters but could also reduce prices of other electric vehicles if Ola Electric sells the locally produced lithium ion cells to other electric vehicle manufacturers.

To know more: https://www.cartoq.com/olas-electric-scooters-to-get-25-cheaper-thanks-to-locally-produced-lithium-ion-cells/

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