Ola Electric founder Bhavish Aggarwal on Friday said the company plans to transition its entire portfolio to ferrite motors, over the next 2-3 quarters, to combat the shortage of rare earth magnets. Ola showcased its indigenous 4680 Bharat Cell and rare earth magnet-free ferrite motor at the company’s annual Sankalp 2025 event. Agarwal claimed this is India’s first indigenously- developed ferrite motor which entirely eliminates the need for rare earth in its magnetic components.
Leapfrogging Beyond Rare Earth Dependence
Ola continues to procure rare earth magnets from multiple countries other than China, but is switching to ferrite motors.
“We don’t see an immediate buffer issue because we do not have a constraint on the supply chain like others,” Aggarwal said. Aggarwal said given how the geo-political scenario is evolving with many countries restricting rare earth exports, it is the right time for India to leapfrog beyond rare earths.
The announcement is part of Ola Electric’s broader “India Inside” vision for complete supply chain sovereignty. It also launched three vehicle variants powered by its 4680 Bharat Cell — the first lithium-ion cells to be manufactured in India. Ola plans to transition all its models to the indigenous cell technology in 2-4 quarters.
However, Aggarwal noted that 4680 cell integration is “slightly longer” due to more complex integration requirements.
New Models, Sports Scooter Entry, and the Diamondhead Vision
The S1 Pro+ 5.2kWh and Roadster X+ 9.1kWh, priced at Rs 1,69,999 and Rs 1,89,999 respectively, will be the first vehicles to feature the domestically produced cells, with deliveries starting this September around Navratri. Both models are available with an additional Rs 10,000 discount until August 17.
Ola Electric also entered the sports scooter segment with the S1 Pro Sport, featuring a 5.2kWh battery pack and priced at an introductory Rs 1,49,999, with deliveries beginning January 2026.
The company also showcased a prototype of its most ambitious project yet – the Diamondhead motorcycle, which will feature self-drive powered by a homegrown AI chip developed by Krutrim. The company is targeting a launch by 2027, at a price point under Rs 5,00,000.