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New Ola Futurefoundry to Be Set Up in UK

The new facility in the UK will facilitate the auto company in building a multi-disciplinary team to cater to the global consumer demand for affordable and efficient electric vehicles.

India: Bangaluru-based Ola Electric has planned to set up a new automobile development facility in the UK, making an investment worth USD100 million (INR750 crore) over five years. The new overseas facility called as Ola Futurefoundry will be used for engineering and vehicle design purposes of two-wheelers and four-wheelers. The new facility will expand the research & development into other forms of vehicle propulsions like fuel cell electric vehicles. Ola Futurefoundry will have a staff of over 200 designers and automotive engineers who will collaborate with a team based in Bengaluru for advanced and high-performance automotive engineering digital and physical modeling, among other disciplines.

Although Ola Electric’s S1 Pro electric sector has gained many bookings since its introduction, the auto company has not streamlined the smooth delivery process for buyers. The customers have to wait for a long time due to unexpected delays due to supply chain crunch and global semiconductor shortages. However, establishing a new facility will help expedite the development of electric vehicles, including Ola electric cars that had been only shown in concept form.

Currently, Ola manufactures its electric scooters in a manufacturing facility near Bengaluru city, considered one of the largest of its kind in the world. However, Ola Futurefoundry is anticipated to work closely with UK education and research institutes to make further advancements in technology and develop next-generation electric vehicles.

On the recent development, the vice president of vehicle design at Ola Electric said, "We want to create a world-class design and R&D team with global sensibilities. Ola Futurefoundry is an important step in building a multi-disciplinary team that is agile, flexible, and responsive to the various needs of our consumers around the world. We are setting up in Coventry a global epicentre of automotive and technology talent. Futurefoundry will supplement and collaborate with our core team in Bangalore, India to deliver exciting new EVs across two-wheeler, four-wheeler and other form factors."

Commenting on the expansion plans of Ola Electric, TechSci Research Director, Karan Chechi said, “The fluctuating oil prices and greater awareness towards the environment are resulting in increased adoption of electric vehicles. Since electric four-wheelers are not affordable for a large population, more and more people are resorting to electric two-wheelers. Besides, many startups are entering the electric two-wheeler market to accommodate the evolving needs of consumers for affordable and efficient models, which would only help boost electric mobility.”

According to TechSci Research report on “India Electric Two-Wheeler Market By Vehicle Type (Electric Scooter and Electric Motorcycle), By Voltage Capacity (48-59V, 60-72V, 73-96V & Above 96V), By Battery Type, By Motor Placement, Competition, Forecast and Opportunities, FY 2026F”, India electric two-wheeler market is poised to grow at a CAGR of 25% during the forecast period. The growth can be attributed to the rising number of government initiatives to promote electric mobility by offering subsidies and tax exemption as well as introduction of affordable models.

According to another TechSci Research report on “India Electric Vehicle Market By Vehicle (Passenger Cars, Commercial Vehicles, Two- and Three-wheelers), By Vehicle Class (Mid-priced & Luxury), By Propulsion (BEV, PHEV & FCEV), By EV Sales (OEMs/Models), By End User (Shared mobility providers, Government organizations, Personal Users, Others), By Company, By Region, Forecast & Opportunities, FY2027”, India electric vehicle market is anticipated to grow at a formidable rate during the forecast period. Increasing demand for electric vehicles due to greater environmental awareness and rising oil prices, and a rising number of government initiatives are driving the growth of the electric vehicles market in India.

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