India, April 7 -- Ola Electric has taken a big step in its battery journey. On Monday, founder and CMD Bhavish Aggarwal announced that the company's new LFP battery cell is ready. This could lower the cost of electric vehicles significantly across India.

Ola Electric Mobility stock, with a market capitalisation of Rs. 12,637 crores, fell Rs. 28.65, down 1.85 per cent from its previous closing price of Rs. 29.19. Furthermore, the stock over the past year has given a negative return of 43.6 per cent.

Aggarwal posted a photo of the new cell on X, simply captioned: "Guess what!" The cell is called the LFP Gen 1. It uses the 46100 format, 46 mm wide and 100 mm tall. That makes it bigger than Ola's current 4680 Bharat Cell.

The cell uses LFP...