Ola Electric inducts former LG Chem Power CEO Prabhakar Patil onto its Board

Reveals its cell manufacturing plans

BENGALURU, India, March 17, 2022 /PRNewswire/ -- Ola Electric, India's leading manufacturer of EVs, has inducted onto its Board Dr. Prabhakar Patil, former Chief Executive Officer of LG Chem Power.

Welcoming Dr Patil onto the Board of Ola Electric Mobility, Bhavish Aggarwal, Founder and CEO, Ola, said, "We are investing deeply in core R&D to create indigenous advanced cell technologies as well as invest into large scale manufacturing of batteries. I look forward to working closely with Dr Prabhakar, as we deepen our focus and investments into advanced cell research as well as large scale manufacturing to build the best battery technologies right here in India and create a global EV hub with our Futurefactory at its center."

He added, "We have already applied for the government of India's $2.4bn PLI scheme for developing advanced cells and will set up a cutting-edge cell manufacturing facility with upto 50GWh capacity right here in India. Dr Prabhakar's expertise will help us accelerate this process of bringing indigenously designed and manufactured cells to the market."

As part of the company's plans to ramp up its core R&D in advanced cell chemistry & manufacturing as well as other battery technologies and new energy systems, Ola Electric is scouting for opportunities around the world for strategic investments into companies focused on advanced cell chemistry research as well as other battery technologies that will enable the company to provide higher density and higher battery performance for its upcoming range of two and four wheeler EVs.

Upon joining the Ola Electric Mobility Board, Dr Patil said, "I am delighted to join the Ola team and to do what I can to support their quest to fundamentally transform major segments of India's electric mobility system to make it sustainable and self-reliant."

Dr. Prabhakar Patil joins Mr Arun Sarin, former CEO, Vodafone Group, Mr B V R Subbu, former President, Hyundai Motor India, Mr Sumer Juneja, Managing Partner, SoftBank Vision Fund, Mr Jaime Ardila Gomez, Former Executive VP and President of South America for General Motors, Mr TVG Krishnamurthy and Bhavish Aggarwal, Founder and CEO, Ola on the company's Board.

Here is a link to the blogpost by Bhavish Aggarwal, Founder and CEO, Ola: https://blog.olaelectric.com/ola-electric-appoints-former-lg-chem-power-ceo-prabhakar-patil-to-its-board/

About Ola

Ola is India's largest mobility platform. Ola revolutionised urban mobility by making it available on demand for over a billion people across 3 continents. Today, Ola continues to move the world to sustainable mobility through its ride hailing platform as well as through advanced electric vehicles manufactured at its Futurefactory, the largest, most advanced and sustainable two wheeler factory in the world. Ola also operates its new vehicle commerce platform with Ola Cars bringing seamless, digital buying, selling and ownership of vehicles to consumers. Ola is dedicated to transitioning the world to sustainable mobility and making the world better than we found it.

For more details,

Krishnakoli Dutta
Corporate Communications, Ola Electric
media@olacabs.com

Photo: https://mma.prnewswire.com/media/1768569/Prabhakar_Patil.jpg