Ola Electrical, the IPO-bound pure-play Indian EV producer, has emerged as probably the most prolific patent writer within the nation amongst its friends within the 2022-23 interval.
With 205 patents revealed within the EV and EV-related applied sciences area with the Indian patents workplace, it tops the desk on this section of mental property rights race. TVS with 156 revealed patents is on the second spot, adopted by Suzuki (78), Honda (77) and BYD (58), information from Mental Property India confirmed.
Ola Electrical is aiming to boost INR 5,500 crore by issuing new shares in its proposed IPO. A few of its current shareholders are additionally offloading a bit over 9.5 crore shares via this provide, its draft papers filed with Sebi confirmed. Of the INR 5,500 crore that Ola Electrical will obtain, it plans to spend INR 1,600 crore for R&D, the corporate stated within the draft provide doc.
“R&D and know-how is on the core of our enterprise mannequin with a concentrate on in-house product innovation,” it stated within the IPO doc. It undertakes R&D actions in India, the UK and the US. These R&D centres are “centered on designing and growing new EV merchandise and core EV parts, corresponding to battery packs, motors and car frames”, it stated.
Of the 205 patents revealed by Ola Electrical, 92 are within the battery know-how area, 27 within the software program associated to EVs, 19 every within the car security & safety section and controller section, 12 within the motor & transmission section. The stability 36 are within the car physique parts, AI and different associated tech.
Ola Electrical additionally has utilized for patents in EV technology-related area exterior India. The corporate has 10 registered patents within the US, the UK, China and the Netherlands and 37 patent purposes are pending within the US, Japan, the UK, Australia and on the Europe Patent Workplace via the Patent Cooperation Treaty. The corporate has cumulatively spent over INR 725 crore in R&D over the past three years, and had pumped in over INR 93 crore within the first quarter of fiscal 2024, its IPO draft papers confirmed.
