Ola Electric shares rose nearly 20% to hit the upper circuit on April 9, closing at ₹36.34 versus ₹30.29 the previous close, after the company announced on April 7 that its in-house developed 46100 Lithium Iron Phosphate (LFP) cell is ready. Alongside the battery milestone, Ola is ramping its Gigafactory capacity to 6 GWh from 2.5 GWh, while vehicles using 4680 Bharat Cells are already on the road, according to Inc42 Media.
New 46100 LFP cell format announced
On April 7, Ola announced its new 46100 format LFP cell, developed as part of its vertically integrated battery innovation efforts. In a statement cited by Inc42 Media, the company described the cell as “bigger than the current NMC 4680 Bharat Cell” and said it represents “a step change in scale, cost efficiency, and applicability across both mobility and energy storage solutions.”
According to the company statement, the 46100 format LFP cell “will begin entering Ola’s products starting next quarter.” The announcement signals a planned transition path for battery hardware and pack-level engineering. However, the source does not specify which models will use the 46100 LFP cell first, nor does it provide measured performance metrics such as energy density, cycle life, or pack-level efficiency.
Gigafactory capacity expansion to 6 GWh
Ola is currently ramping up its Gigafactory’s capacity to 6 GWh from 2.5 GWh. The company has vehicles already integrated with 4680 Bharat Cells on the road.
The parallel timing of cell readiness and capacity expansion suggests Ola is aligning its battery development roadmap with factory scaling. The source does not detail how Ola’s production lines will handle the transition between the “current NMC 4680 Bharat Cell” and the larger “46100 format LFP cell,” or address manufacturing constraints such as equipment utilization, formation and testing throughput, and pack line configuration.
Market activity and investor response
On April 9, over 42 crore shares changed hands during the session, with a turnover of approximately ₹147 crore. The company’s market capitalization stood at ₹16,029 crore (approximately $1.7 billion) at the end of the session. These figures reflect investor response to the technical milestone announced by the company.
Battery strategy: vertical integration and cross-application use
Ola’s April 7 statement ties the 46100 LFP cell to vertical integration and positions it for use across multiple application categories. The company stated the new cell format is “applicable across both mobility and energy storage solutions.”
This cross-application approach could indicate a strategy to reduce fragmentation by standardizing parts of the cell ecosystem and leveraging manufacturing learning across product lines. However, the source does not confirm whether the 46100 LFP cell will be used in stationary storage products immediately, nor does it describe any energy storage system configurations. Any expectations about how quickly the technology will translate beyond vehicle packs would be speculative based on the provided information.
Related hardware announcements: ebike PLI certification and pricing
Earlier in April, Ola secured Production Linked Incentive (PLI) certification for its ebike Roadster X+ 4.5 kWh, confirming compliance with domestic value addition norms and making it eligible for government incentives.
The company also reduced the price of the Roadster X+ 9.1 kWh by 31% last week. These announcements indicate that Ola’s product roadmap extends beyond passenger vehicles and that its battery and energy hardware strategy is linked to incentives and manufacturing localization. However, the source does not explicitly connect the Roadster X+ announcements to the 46100 LFP cell transition.
What this means for EV manufacturing
The April 9 share movement reflects investor interest in two operational developments: a new in-house 46100 LFP cell format ready for product entry “starting next quarter,” and a Gigafactory capacity ramp to 6 GWh from 2.5 GWh. Together, these steps point to a manufacturing-focused approach—develop the cell format, validate readiness, and scale output capacity in parallel.
Industry observers may track how quickly Ola converts the “ready” cell into production volumes and whether the transition from the “current NMC 4680 Bharat Cell” to the “bigger” 46100 format affects pack integration, supply chain sourcing, and manufacturing yield. The source does not provide those downstream indicators, so the immediate takeaway is the company’s stated intention and timeline rather than confirmed field outcomes.
Ola’s framing of the 46100 LFP cell as part of “vertically integrated battery innovation efforts” suggests the company is pursuing in-house battery development. If Ola continues to expand battery format options while scaling capacity, this could influence how the company designs its battery supply chain and standardizes components across mobility and energy storage. The extent of that impact will depend on execution details not included in the available reporting.
Source: Inc42 Media