Ola Electric Dominates Indian Patent Landscape with 205 EV Patents, Leads Innovation Drive Ahead of IPO

4 Mar 2024 , 11:14 AM

Ola Electric tops the charts as India’s leading patent publisher for the 2022-23 period, with 205 patents published in the EV and EV-related technologies sector.

TVS secures the second position with 156 patents, followed by Suzuki, Honda, and BYD in third, fourth, and fifth place respectively, with 78, 77, and 58 patents. Ola Electric aims to raise ₹5,500 Crore through its IPO, with plans to allocate ₹1,600 Crore for research and development (R&D).

The company’s R&D efforts span across various regions including India, the UK, and the US, focusing on battery technology, software, vehicle safety, artificial intelligence, and more. Ola Electric has applied for patents internationally, with 10 registered patents and 37 pending patent applications in countries like the US, UK, China, Japan, and Australia.

Over the past three years, Ola Electric has invested over ₹725 Crore in R&D, with an additional ₹93 Crore in the first quarter of fiscal 2024, showcasing its dedication to innovation. As Ola Electric gears up for its IPO, its emphasis on R&D and technology underscores its commitment to driving innovation and advancing the EV industry.

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