Bhavish Aggarwal, the Founder of Ola Electric, stated that, to address the scarcity of rare earth magnets, the business intends to switch to ferrite motors for its complete portfolio within the next two to three quarters.

At the company's annual Sankalp 2025 event, Ola demonstrated its in-house 4680 Bharat Cell and rare-earth magnet-free ferrite motor. According to Agarwal, this is the first ferrite motor made in India

that does not require rare earth for its magnetic components.

Although Ola is moving to ferrite motors, it still imports rare earth magnets from other nations outside of China. Ola Electric's larger "India Inside" strategy for total supply chain sovereignty includes the announcement.

“We don’t see an immediate buffer issue because we do not have a constraint on the supplychain like others,” Aggarwal says.

He said given how the geopolitical scenario is evolving with many countries restricting rare earth exports, it is the right time for India to leapfrog beyond rare earths.

Additionally, it introduced three vehicle models that were powered by its 4680 Bharat Cell, which was the first lithium-ion cell produced in India. In two to four quarters, Ola intends to switch all of its models to the domestic cell technology.

The first cars to use the domestically made cells will be the S1 Pro+ 5.2kWh and Roadster X+ 9.1kWh, which retail for Rs 1,69,999 and Rs 1,89,999, respectively. Delivery of the vehicles will begin this September, around Navratri. Up to August 17, both variants are offered with an extra Rs 10, 000 off.