Ola Electric The ridesharing company stated on Thursday that it will invest $100 million to establish Ola Futurefoundry in Coventry, United Kingdom. Advanced engineering and vehicle design will be handled by the centre. The news comes just days after Ola CEO Bhavish Aggarwal teased the ride-hailing giant's future electric car, which is anticipated to enter the market in 2023.

Ola Futurefoundry will become a worldwide hub for automotive design and technical knowledge. This centre will collaborate with the Ola Campus in Bangalore's design and engineering teams. People from many disciplines such as two-wheeler and four-wheeler vehicle design, advanced high-performance automotive engineering, digital and physical modelling, and more are said to be based in the Futurefoundry.

Ola Futurefoundry will also emphasis on vehicle R&D in the area of novel energy systems, such as cell technologies. Over the next five years, the business plans to invest more than $100 million on the centre. More than 200 automobile designers and engineers are said to work at this site. Ola Futurefoundry will partner with world-class education and research institutes in the UK for technological research and development, in addition to working on projects with in-house experts.

Bhavish Aggarwal, the founder and CEO of Ola, stated that the business is "building the future of mobility" and that it "continues to recruit the top global talent across disciplines." "Ola Futurefoundry will allow us to take advantage of the UK's incredible automotive design and technical skills to develop the next generation of electric cars. Futurefoundry will work closely with our Bangalore, India headquarters to help us construct the future of mobility as we make electric vehicles more affordable around the world "He went on to say that

Ola Electric's Vice President of Vehicle Design, Wayne Burgess, stated that the company's goal is to build a world-class design and research & design team with global sensibilities.

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