EV Penny Stock Jumps Up to 58% in Last Two Weeks; Company Announces Readiness of LFP 46100 Cell, Scales Gigafactory to 6 GWh

On Thursday, Indian markets are trading on a weak note, with the Nifty 50 declining 0.56 per cent to 23,864.00 as of 11:00 AM, compared to its previous close of Rs 23,997.35. Amid this, Ola Electric shares were trading at Rs 34.81, up 15.00 per cent from the previous close of Rs 30.27. Notably, the stock had recently hit a new 52-week low of Rs 22.25 and has rebounded sharply, gaining around 58 per cent over the past two weeks.

The recent momentum also comes after the company announced the development of its in-house LFP 46100 battery cell, which is expected to be a lower-cost and more durable alternative to its existing battery technology

Ola Electric Announces Indigenous LFP Battery Cell Development

Ola Electric Mobility has developed a new battery cell called the LFP 46100, marking a step forward in its effort to build its own battery technology. Lithium Iron Phosphate (LFP), is a type of battery that is generally cheaper, safer, and has a longer life compared to other chemistries, though it may offer slightly lower driving range. The “46100” refers to the size of the cell, which is larger than the company’s existing 4680 Bharat cell, meaning fewer cells are needed in a battery pack, helping reduce complexity and costs. In comparison, the current Bharat cell uses NMC (Nickel Manganese Cobalt) chemistry, which provides a higher range but is more expensive.

The company expects to start using the new LFP cells in its vehicles from the next quarter, subject to approvals. This development comes as Ola continues to scale up its Gigafactory, which is its large battery manufacturing facility. The plant currently has a capacity of 2.5 GWh and is being expanded to 6 GWh. Vehicles powered by its existing Bharat cells are already on the road and have covered millions of kilometres, indicating that the technology is being tested at scale.

Overall, the shift towards LFP batteries is expected to help Ola reduce vehicle costs, improve affordability, and expand into battery storage solutions, supporting wider adoption of electric vehicles in the country.

Ola Electric Management Commentary

An Ola Electric spokesperson said: “The readiness of our LFP 46100 cell is a pivotal moment in our journey to build India’s most advanced EV and energy ecosystem. Along with the strong progress at our Gigafactory and proven performance of our 4680 cells on the road, this milestone reflects our deep commitment to innovation, scale, and self-Reliance. LFP technology will play a critical role in driving affordability, enabling energy storage solutions, and accelerating the transition to electric mobility as we move closer to realising the vision of End ICE Age.”

About Ola Electric

Ola Electric Mobility Limited is an Indian electric vehicle manufacturer focused on building vertically integrated EV solutions, including battery cells, motors, and vehicle platforms. The company operates the Ola Futurefactory and is developing large-scale battery manufacturing capabilities through its Gigafactory initiative.

With a presence across India and international R&D centres, the company aims to drive EV adoption through innovation, affordability, and a direct-to-customer distribution model. The company has a market capitalisation of Rs 15,328 crore.

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Disclaimer: The article is for informational purposes only and not investment advice.