With an eye on electric cars after scooters, Ola to launch Future foundry – EQ Mag Pro
Ola aims to invest more than $100 million to for its global centre for advanced engineering and vehicle design in the UK.
Ola Electric on Thursday has announced that it will set up Ola Futurefoundry in Coventry of the UK with an investment of $100 million. The centre will be responsible for advanced engineering.
and vehicle design. The announcement comes right after Ola CEO Bhavish Aggarwal has teased the ride-hailing giant turned EV maker’s upcoming electric car that is expected to hit the market in 2023.
The company claims that Ola Futurefoundry will become a global hub for automotive design and engineering talents.
This centre will work in sync with the design and engineering teams based at Ola Campus in Bangalore. The Futurefoundry is claimed to house people from multiple disciplines of two-wheeler and four-wheeler vehicle design, advanced high-performance automotive engineering, digital and physical modelling and more.
Ola Futurefoundry is also set to focus on vehicle R&D around new energy systems including cell technologies.
The company will invest more than $100 million over the next five years into the centre. This facility is claimed to employ more than 200 automotive designers and engineers. Besides working on projects with in-house experts, Ola Futurefoundry will also collaborate with world-class education and research institutions in the UK for technology research and development.
Speaking about this centre Ola founder and CEO Bhavish Aggarwal said that the company is building the future of mobility and continues to attract the best global talent across disciplines. “Ola Futurefoundry will enable us to tap into the fantastic automotive design & engineering talent in the UK to create the next generation of electric vehicles. Futurefoundry will work in close collaboration with our headquarters in Bangalore, India to help us build the future of mobility as we make EVs affordable across the world,” he further added.
Wayne Burgess, Vice President of Vehicle Design, Ola Electric said the company aims 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,” Burgess further added.