Ola Electric tops list of EV patents in India, TVS at 2nd place
Ola Electric has emerged as the leading patent publisher in the country for the 2022-23 period. According to data from Intellectual Property India, Ola Electric has published 205 patents in the EV and EV-related technologies space, surpassing its competitors. TVS follows in second place with 156 published patents, while Suzuki, Honda, and BYD hold third, fourth, and fifth place respectively, with 78, 77, and 58 published patents.
Ola Electric aims to raise Rs 5,500 crore through its IPO by issuing new shares. The company's draft papers filed with Sebi show that some existing shareholders will also be selling over 9.5 crore shares. Out of the funds raised, Ola Electric plans to allocate Rs 1,600 crore for research and development (R&D), highlighting the importance of innovation in its business model.
With R&D centers in India, the UK, and the US, Ola Electric is dedicated to designing and developing new EV products and core components. Its R&D efforts focus on battery technology, software related to EVs, vehicle safety and security, controllers, motors and transmissions, as well as vehicle body components, artificial intelligence, and other related technologies.
Notably, Ola Electric has also applied for patents in the EV technology space outside of India, with 10 registered patents and 37 patent applications pending in countries such as the US, UK, China, Japan, and Australia. Over the past three years, Ola Electric has invested over Rs 725 crore in R&D, with an additional Rs 93 crore invested in the first
