'Fear Of Losing Market' Making Foreign Rival Attack Indigenous Battery Innovation, Alleges Ola Electric

Ola Electric on Sunday alleged that fear of losing market opportunities prompted foreign rival to attack its indigenous battery innovation of '4680 Bharat Cell', refuting reports of stealing technology from South Korea's LG Energy Solution.

Reports from South Korea alleged that an unnamed former LG Energy Solution executive attempted to pass on pouch cell technology IPs to Ola Electric. An LG Energy Solution official was also quoted as confirming that the company had identified the situation early and alerted the country's authorities immediately.

Terming the report "misleading and completely baseless", Ola Electric said, "The old and dated pouch cell technology, which the report claims was leaked, is not even an area of research or commercial interest for Ola Electric. Our 4680 Bharat Cell is based on the most advanced dry electrode technology in a cylindrical form factor and surpasses the pouch cell touted in media leaks."

Questioning the timing of the reports, at a time when "Ola's 4680 Bharat Cell has entered commercial production', the company asserted the 4680 Bharat Cell 'represents India's first indigenous large-format cell and directly competes with the Korean majors in the domestic market."

"The fear of losing market opportunities, including a significant customer in Ola Electric, is prompting the foreign rival to attack an indigenous battery innovation," Ola Electric said in its statement.

The company further said, "The timing of this selective leak to South Korean media, and its swift, unverified replication by a section of the Indian press, appears dubious at best."

It stated that a "misleading narrative of tech intrigue is being weaponized to undercut India's emergence as a global player in advanced energy technology," as the company scales up production of the 4680 Bharat Cell, investing heavily in R&D and manufacturing infrastructure.

Ola Electric asserted that it has 720 patent filings, of which 124 are granted and Ola Cell Technologies has established India's first operational Gigafactory, built with a cumulative investment of Rs 2,500 crore.

"As a deeply invested technology company, Ola Electric values intellectual property and the rigorous effort that drives true innovation... We will not allow business rivalries or motivated media speculation to derail India's push toward global leadership in clean energy and battery innovation," it asserted.