Ola to infuse $ 100 million in setting up a global automotive design, engineering centre in UK
- ByStartupStory | January 28, 2022
Ola electric has proclaimed that it will create an array of Ola future foundry, a global centre for advanced engineering and vehicle design, in Coventry, the Uk.
The company will also endue over $ 100 M in the next 5 years in the state- of- the art centre an staff it with over 200 designers and automotive engineers.
The centre will also partner with world- class education and research institutions in the UK to join on technology research and development.
Ola future foundry will work in synchronise with the design and engineering teams based at the Ola campus in Bengaluru.
It will house global talent across multiple disciplines of two- wheeler and four – wheeler vehicle design, advanced high- performance automotive engineering, digital and physical modelling and more.
It will also house talent that will base on vehicle R& D around new energy systems, including cell technologies.
Bhavish Aggarwal, “Ola founder & CEO, said: “ Ola future foundry will enable us to tap into the fantastic automotive design & engineering talent in the UK to bring on the new innovation of EVs. Future foundry will work in close collaboration with our headquarters in Bengaluru to help us construct the future of motility as we make Evs reasonable across the globe.”
Kicking up interest, Aggarwal had on Tuesday tweeted an image hinting at the cast of the company’s electric car.
Lately, Ola electric said it has risen over $ 200 million from Tekne Private Ventures, Alpine opportunity fund, Edelweiss and others.
The latest fundraising round saw the company’s valuation going up to $ 5 billion.
Ola electrics has constructed what it call the world’s largest electric two- wheeler contriving facilities, in Tamil Nadu’s Krishnagiri district, committing an investment of Rs 2,400 crore.
“ We want to make an eminent design and R&D team with global outlook.”
Ola future foundry is a significant step in constructing a multi disciplinary team that is agile, resilient and responsive to the various needs of our consumers around the world.
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