NEW DELHI: Ola Electric, which on Monday had announced raising $200 million at a valuation of $5billion, on Thursday said it is setting up Ola Futurefoundry, its global centre for advanced engineering and vehicle design, in the UK. Ola will invest more than $100 million over the next 5 years into the centre and staff it with over 200 designers and engineers.
The Futurefoundry will work in sync with the design and engineering teams based at Ola campus in Bangalore, the company said in a statement. According to the company, the centre will house global talent across multiple disciplines of 2W and 4W vehicle design, advanced high-performance automotive engineering, digital & physical modeling and more.
Bhavish Aggarwal, Founder & CEO, Ola said: “Ola Futurefoundry will enable us to tap into the fantastic automotive design & engineering talent in the UK to create the next generation of electric vehicles. Futurefoundry will work in close collaboration with our headquarters in Bangalore, India to help us build the future of mobility as we make EVs affordable across the world.” The four-wheeler is likely to become the third entrant of Ola Electric’s EV portfolio.