Ola Cell Tech targets battery suppliers to invest Rs 2,249 cr

Ola Cell Technologies Pvt Ltd has identified key short- and long-term raw material suppliers for making its lithium ion cell batteries.

Major raw material suppliers include Umicore, Epsilon Advanced Materials and Neogen.

Based on preliminary validation, of the 201 initially identified, 28 key suppliers were identified as involved in commercial offtake contracts. These are based on a number of criteria: including technical capability and openness to collaboration, interest in supplying Ola as a preferred supplier and interest in localization.

As many as 15 suppliers have expressed interest in localizing activities within the

First print: June 7, 2024 | 11:58 p.m IST