OCT owns the Tamil Nadu-based lithium-ion cell manufacturing plant with 1.5 GWh of operational capacity and plans to scale to 6 GWh by the end of this financial year. This comes on the back of the Bengaluru-based company seeing a significant reduction in sales volumes and decline in market share amid rising consumer complaints around vehicle quality and after-sales service.
Ola Electric plans to raise Rs 2,000 crore via stake sale in Ola Cell Technologies
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