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Ola to invest $100 million in setting up vehicle design, engineering centre in UK

SoftBank-backed Ola will invest over $100 million in the cutting-edge centre over the next five years, employing over 200 designers and automotive engineers. In addition, the centre will work on technological research and development with a world-class education and research institutions in the United Kingdom.

Ola to invest USD 100 million in setting up vehicle design engineering centre in UK gcw
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New Delhi, First Published Jan 27, 2022, 5:07 PM IST

Ola Electric, the ride-hailing company's electric vehicle (EV) subsidiary, is establishing Ola Futurefoundry, its worldwide centre for advanced engineering and vehicle design, after obtaining more than $200 million from investors at a $5 billion value. This centre will be located in Coventry, UK, a worldwide hub for the world's greatest automotive design and technical expertise.
SoftBank-backed Ola will invest over $100 million in the cutting-edge centre over the next five years, employing over 200 designers and automotive engineers. In addition, the centre will work on technological research and development with a world-class education and research institutions in the United Kingdom.

"At Ola, we are building the future of mobility and continue to attract the best global talent across disciplines," said Founder and CEO Bhavish Aggarwal. He added, "Ola Futurefoundry will allow us to tap into the incredible automotive design and engineering talent in the UK to create the next generation of electric vehicles." He stated that Futurefoundry would work closely with our headquarters in Bangalore to help us build the future of mobility by making EVs affordable around the world.

Ola Futurefoundry will collaborate with the Ola Campus design and engineering teams in Bengaluru, India. It will contain worldwide expertise in many disciplines such as 2W and 4W vehicle design, advanced high-performance automotive engineering, and digital and physical modelling. It will also house talent focused on vehicle R&D centred on new energy systems, including cell technologies.

Ola establishing the Futurefoundry comes at a time when Ola founder Bhavish Aggarwal's next emphasis is creating electric four-wheelers, and development on this is well advanced. Aggarwal uploaded a photograph of an EV on Twitter on Tuesday that appears to be the design idea for the next Ola electric car.
According to insiders, Wayne Burgess, who was appointed last year as head of vehicle design at Ola Electric for the company's complete product line, which includes scooters, motorcycles, and automobiles, would oversee a team of top engineers in creating the electric car.

Burgess has spent over three decades developing cars for the bulk of British luxury automobile manufacturers, beginning with Rolls Royce and Bentley and on through Aston Martin, Jaguar Landrover, and, most recently, Lotus. He was most notably the main designer for the Jaguar F-Type sports vehicle and then the studio director for the Jaguar F-Pace SUV.

This funding is intended to aid Ola in developing various vehicle platforms, such as its electric motorbike, mass-market scooter, and electric automobile. The financing would help Ola's 'Mission Electric,' which encourages the industry and customers to switch to electric vehicles and ensuring that no petrol two-wheelers be supplied in India after 2025.

Also Read | 'Largest initiative': Ola Electric announces expansion of customer S1 electric scooter test drives pan India

Also Read | Ola Cars' big expansion plan: To hire 10,000 people, expand to over 100 cities by 2022

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