Ola To Invest Over $100 Million To Set Up Advanced Engineering And Vehicle Design Centre In UK

Ola Electric on Thursday said it will invest over USD 100 million (about Rs 750 crore) over the next five years and set up a global centre for advanced engineering and vehicle design in the UK. This centre - called the Ola Futurefoundry - will be based in Coventry, UK, and work in-sync with the design and engineering teams based at Ola Campus in Bengaluru, a statement said.

"It will house global talent across multiple disciplines of 2W and 4W vehicle design, advanced high-performance automotive engineering, digital and physical modeling and more," it added. The centre will also house talent that will focus on vehicle R&D around new energy systems including cell technologies.

"Ola will invest over USD 100 million over the next five years into the state-of-the-art centre and staff it with over 200 designers and automotive engineers," the statement said. The centre will also partner with world-class education and research institutions in the UK to collaborate on technology research and development, it added. "At Ola we are building the future of mobility and continue to attract the best global talent across disciplines.

Ola Futurefoundry will enable us to tap into the fantastic automotive design and engineering talent in the UK to create the next generation of electric vehicles," Ola founder and CEO Bhavish Aggarwal said. He added that Futurefoundry will work in close collaboration with the company's headquarters in Bengaluru to help build the future of mobility as it makes EVs affordable across the world.

"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 epicenter of automotive and technology talent," Ola Electric Vice President of Vehicle Design Wayne Burgess said. Futurefoundry will supplement and collaborate with the core team in Bengaluru to deliver exciting new EVs across two-wheeler, four-wheeler and other form factors, he added.

(PTI)