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Business / Fri, 07 Jun 2024 Business Standard

Ola Cell Tech zeroes in on suppliers for batteries, to invest Rs 2,249 cr

Ola Cell Technologies Pvt Ltd has identified key raw material suppliers for the short as well as the long term for making its lithium ion cell batteries. Its key raw material suppliers include Umicore, Epsilon Advanced Materials, and Neogen. Based on preliminary validation, 28 key suppliers were identified for engaging on commercial offtake contracts out of 201 initially identified. These have been based on a few criteria — technical capability and openness to collaboration, interest in supplying to Ola as a preferred supplier and interest in localising, among others. As many as 15 suppliers have shown an interest in localising operations within the

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

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

Based on preliminary validation, 28 key suppliers were identified for engaging on commercial offtake contracts out of 201 initially identified. These have been based on a few criteria — technical capability and openness to collaboration, interest in supplying to Ola as a preferred supplier and interest in localising, among others.

As many as 15 suppliers have shown an interest in localising operations within the

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