Ola to invest over $100mn (Rs 750 crore) in the UK at 'Futurefoundry' design & engineering centre

Ola Electric has announced to invest $100 million (about Rs 750 crore) in the UK to set up a global centre for advanced engineering and vehicle design in the country. The phased investment is planned over the next five years. This centre is called the Ola Futurefoundry; based in Coventry, UK, and work in sync with the design and engineering teams at Ola Campus in Bengaluru, a statement said.

Opening & investing $100M into Ola Futurefoundry, our advanced engineering & design centre in U.K. Will work closely with team in Bangalore & focus on high perf. automotive engineering, vehicle design & battery tech. Can't wait to show you guys what we've been working on here! pic.twitter.com/kbiMWo0BvE — Bhavish Aggarwal (@bhash) January 27, 2022

"It will house global talent across multiple disciplines of 2W and 4W vehicle design, advanced high-performance automotive engineering, digital and physical modelling 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. 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. 

Also read: How Union Budget 2022 can push an enhanced EV ecosystem in India?

The centre will also partner with a world-class education and research institutions in the UK to collaborate on technology research and development education and research institutions in the UK to collaborate on technology research and development, it added.

The headquarters in Bengaluru help build the future of mobility as it makes EVs affordable worldwide. "Ola Futurefoundry is an essential 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 epicentre of automotive and technology talent," Ola Electric Vice President of Vehicle Design Wayne Burgess said.

With inputs from PTI 

Live TV