Ola CEO Bhavish Aggarwal on Monday said the company has begun integrating its indigenously developed lithium-ion batteries into its vehicles. According to Mr Aggarwal, the 4,680 Bharat Cell will increase the company's margins and market position.

"The heart of a vehicle is the cell... the biggest cost driver, the biggest performance driver, everything, is the cell. When our cell comes in, that gross margin will further go up. So then that cell coming in starts this quarter," he told media.

Mr Aggarwal, last week, formally announced the lithium-ion batteries - which he called India's first indigenously developed cells - during the company's 'Sankalp' event under the theme 'Inside India'. The batteries have been produced at Ola's Krishnagiri factory.

According to the company, the cell comes with over years of battery life, five times the capacity of the competition, and provides 80 per cent charging within 15 minutes, as compared to rival offerings taking 30 minutes to reach 50 per cent charging. It would also allow improved safety and lower costs to produce, it said.

During the event, Mr Aggarwal also unveiled the Ola Pro Sport scooter, which is equipped with the new cell.

Additionally, Mr Aggarwal told NDTV Profit that Ola is expanding its vertical integration strategy to reduce dependence on imports. "We're the only ones in that scheme who have put up a factory and are producing commercial cells," he said.

The company has launched a ferrite motor technology designed to replace rare earth magnets in its products. "India needs to leapfrog to the next generation, as these rare earth magnets are coming from very few nations," the Ola CEO said.

According to the company, the ferrite motors would serve as "an alternative technology for rare earth magnets in the future".

Source: India Today