Ola Electric calls recent reports around LG leak claims as “completely baseless”
The EV maker is embroiled in a controversy following South Korean media reports that suggest that the company benefitted from the leaked proprietary battery cell technology from LG Energy Solutions.
Ola Electric on Sunday issued a strong rebuttal on recent reports that the company has benefitted from the leak of proprietary battery cell technology for South Korean giant LG Energy Solutions (LGES).
The company called these reports, “misleading” and “completely baseless.”
Last week, media reports emerged from South Korea that alleged that an unnamed former researcher at LGES transferred details about pouch cell technology IPs to Ola Electric.
The company noted that the pouch cell technology, which the report claims were leaked, is not in the area of research or commercial interest for Ola Electric. “Our 4680 Bharat Cell is based on the most advanced dry electrode technology in a cylindrical form factor and surpasses the pouch cell touted in media leaks,” it said in a statement.
Ola Electric has raised doubts about the timing of the news reports, saying they emerged at a critical juncture, coinciding with the commercial production of its 4680 Bharat Cell.
The Bhavish Aggarwal-led company said, “The fear of losing market opportunities, including a significant customer in Ola Electric, is prompting the foreign rival to attack an indigenous battery innovation. The timing of this selective leak to South Korean media, and its swift, unverified replication by a section of the Indian press, appears dubious at best.”
Ola Electric, on November 5, began deliveries of its vehicles S1 Pro+ (5.2kWh) with its 4680 Bharat Cell after it had secured ARAI certification for its battery cell packs in the 5.2 kWh configuration.
The company has also launched a line of battery energy storage systems as it looks to maximise use cases for its 4680 Bharat cells that is being manufactured at its gigafactory.
These allegations come at a troubling time for the company as it looks to navigate its narrowing market share and plunging top-line growth at a time when its peers are racing ahead in the electric two-wheeler segment.