A Gigafactory is a large-scale manufacturing facility designed for the production of batteries and electric vehicles (EVs) on a massive scale. The term is most commonly associated with Tesla, which initiated the concept to significantly reduce battery costs through economies of scale and to facilitate the widespread adoption of electric vehicles. Gigafactories typically utilize advanced manufacturing techniques and aim to produce high volumes of batteries to meet the growing demand for electric energy storage and sustainable transportation. These facilities emphasize the integration of renewable energy sources to power their operations, aligning with environmental sustainability goals. The term “Gigafactory” reflects the gigawatt-level production capacity that these factories aim to achieve.
India-based electric vehicle (EV) unicorn, Ola Electric, is set to make a significant investment in building a Gigafactory for the production of lithium-ion battery cells. With plans to spend $100…