Ola Electric has filed 205 patents in the field of electric vehicles and related technologies with the Indian Patents Office, securing the top position in this domain of intellectual property rights. Following closely behind is TVS with 156 patents, trailed by Suzuki with 78, Honda with 77, and BYD with 58 patents, as reported by data from Intellectual Property India.
The company’s goal is to generate INR 5,500 crore through the issuance of new shares in its upcoming IPO, while some current shareholders intend to sell over 9.5 crore shares. Ola Electric intends to earmark INR 1,600 crore of the raised funds for research and development, emphasizing internal product innovation. Its R&D operations span across India, the UK, and the US, concentrating on the design and development of new EV products and essential components such as battery packs, motors, and vehicle frames.
Among the 205 patents released by Ola Electric, 92 pertain to battery technology, 27 to EV software, 19 each to vehicle safety & security as well as controller segments, 12 to motor & transmission, and 36 to vehicle body components, artificial intelligence, and other related technologies.
Additionally, the company has filed for patents in the electric vehicle technology sector beyond India, securing 10 registered patents in the US, the UK, China, and the Netherlands, while also having 37 patent applications awaiting approval in the US, Japan, the UK, Australia, and at the European Patent Office through the Patent Cooperation Treaty. According to its IPO draft papers, Ola Electric has allocated over INR 725 crore towards research and development in the last three years and expended over INR 93 crore in the first quarter of fiscal 2024.
