BusinessHeadlines

Ola Electric races ahead with 205 EV patents helobaba.com

MUMBAI: Ola Electric, the IPO-bound pure-play Indian EV manufacturer, has emerged as the most prolific patent publisher in the country among its peers in the 2022-23 period.
With 205 patents published in the EV and EV-related technologies space with the Indian patents office, it tops the table in this segment of intellectual property rights race. TVS with 156 published patents is at the second spot, followed by Suzuki (78), Honda (77) and BYD (58), data from Intellectual Property India showed.
Ola Electric is aiming to raise Rs 5,500 crore by issuing new shares in its proposed IPO.Some of its existing shareholders are also offloading a little over 9.5 crore shares through this offer, its draft papers filed with Sebi showed. Of the Rs 5,500 crore that Ola Electric will receive, it plans to spend Rs 1,600 crore for R&D, the company said in the draft offer document.
snip (18)

“R&D and technology is at the core of our business model with a focus on in-house product innovation,” it said in the IPO document. It undertakes R&D activities in India, the UK and the US. These R&D centres are “focused on designing and developing new EV products and core EV components, such as battery packs, motors and vehicle frames”, it said.
Of the 205 patents published by Ola Electric, 92 are in the battery technology space, 27 in the software related to EVs, 19 each in the vehicle safety & security segment and controller segment, 12 in the motor & transmission segment. The balance 36 are in the vehicle body components, AI and other related tech.
Ola Electric also has applied for patents in EV technology-related space outside India. The company has 10 registered patents in the US, the UK, China and the Netherlands and 37 patent applications are pending in the US, Japan, the UK, Australia and at the Europe Patent Office through the Patent Cooperation Treaty. The company has cumulatively spent over Rs 725 crore in R&D over the last three years, and had pumped in over Rs 93 crore in the first quarter of fiscal 2024, its IPO draft papers showed.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button