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/

Comments

India's Manufacturing Growth Hits 18-Month Low in December: A Year-End Recap

Introduction: As the year came to a close, India's manufacturing sector faced headwinds, experiencing an 18-month low in growth during December 2023. The latest data, compiled by S&P Global in the HSBC India Manufacturing Purchasing Managers’ Index, sheds light on the challenges faced by the industry as it navigated a slowdown in new orders and output. India's manufacturing output hit an 18-month low in December. Decoding the Numbers: In December, the Manufacturing PMI dipped to 54.9, down from 56 in November. Despite this decline, the sector managed to stay above the crucial 50-mark, signifying expansion rather than contraction. Notably, the output rose at the slowest pace in 14 months, indicating a challenging landscape for manufacturing. Expert Insights: Pranjul Bhandari, Chief India Economist at HSBC, offered insights into the situation. "India's manufacturing sector continued to expand in December, although at a softer pace, following an uptick in the previous...

Indian Medical Education In Its Golden Era, Says Junior Health Minister SP Baghel

Addressing the 42nd Foundation Day of the National Board of Examinations in Medical Sciences (NBEMS), Union Minister SP Baghel said healthcare workers have played a major role in enhancing the perception of India as a global powerhouse. Medical education in India is going through its golden era, the Union Minister said. (Representational) New Delhi: Medical education in India is going through its golden era, Union Minister of State for Health SP Baghel said today, asserting that doctors trained here are highly valued globally and one will find an Indian doctor in every part of the world. Addressing the 42nd Foundation Day of the National Board of Examinations in Medical Sciences (NBEMS), he said healthcare workers have played a major role in enhancing the perception of India as a global powerhouse. Union Health Minister Mansukh Mandaviya, delivering the keynote address at the event, said in the last two years 25 courses have been introduced. “This growth serves to provide great...

RBI Mandates IT Services Framework For REs

The new comprehensive master direction on information technology governance, risk, controls and assurance practices to be implemented by Regulated entities (REs) comprising of scheduled commercial banks (excluding regional rural banks); small finance banks; payments banks; NBFCs in top, upper and middle layers; all India financial institutions and credit information companies effective from 1st April 2024 shall facilitate the easy administration of IT and cyber governance and compliance, in place of the prevalent multiple circulars. REs shall facilitate the easy administration of IT and cyber governance and compliance, in place of the prevalent multiple circulars In the case of foreign banks, the directions state that they shall be subject to a ‘comply or explain’ approach in terms of the applicability of these Directions and they do not need to constitute any Committees (Board or Executive level) referred in this Master Direction at the branch level. They have been given th...

Summary Station

Search This Blog