Ola Electric, gearing up for its IPO, has emerged as the leading patent publisher in India for the 2022-23 period, with 205 published patents in the electric vehicle (EV) and EV-related technologies space, according to data from Intellectual Property India. This puts Ola Electric ahead of its competitors, with TVS in second place with 156 published patents. Ola Electric's focus on innovation is highlighted in its IPO draft papers, where it plans to allocate Rs 1,600 crore out of the total funds raised for research and development (R&D).
Ola Electric operates R&D centres in India, the UK, and the US, which are dedicated to designing and developing new EV products and core components. The company's R&D efforts span various areas, including battery technology, EV software, vehicle safety and security, controllers, motors, transmissions, vehicle body components, artificial intelligence, and related technologies.
In addition to leading in patent publishing within India, Ola Electric has applied for patents in the EV technology space globally, with ten registered patents and 37 patent applications pending in countries such as the US, UK, China, Japan, and Australia. Over the past three years, the company has invested over Rs 725 crore in R&D, with an additional Rs 93 crore invested in the first quarter of fiscal 2024. As Ola Electric takes the lead in patent publishing, it underscores its commitment to driving innovation and advancing the EV industry.
