- Ola Electric, led by Bhavish Aggarwal, is reportedly considering bidding for mining rights for lithium blocks being auctioned by the Indian government.
- Executives from Ola Electric have attended auction meetings, but the company is yet to make a final decision on participating in the bidding process.
- Securing mining rights for lithium would be advantageous for Ola Electric, which is in the process of constructing its Ola gigafactory with a projected production capacity of 20 GWh.
- The Indian government has put 5.9 million tonnes of lithium reserves, discovered in Jammu and Kashmir, up for auction.
- Ola Electric’s interest in bidding for these mining rights suggests its strategic focus on securing key resources for its electric vehicle production and battery manufacturing operations.