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Ola, one of the world's leading mobility platforms has announced the signing of an MoU with the Tamil Nadu government to set up its electric two-wheeler factory in the state. As per the MoU agreement, an investment of Rs 2,400 crores will be made towards the new production facility.
The company is said to be working in line with Prime Minister Narendra Modi's vision of an Atma Nirbhar Bharat. Ola is setting up the production facility with the aim of making India a manufacturing hub for electric vehicles.
Once operational, the new electric two-wheeler factory from Ola is said to bring in 10,000 new jobs in the country. The factory will also become the world's largest scooter manufacturing facility with an annual production capacity of a massive 2 million units.
Ola states that given the demographics, unique skill-set and manpower, India is well-placed to become a global hub for the cutting-edge manufacturing of EVs. The new factory in Tamil Nadu will also help India reduce its import dependence while boosting local manufacturing, improving technical expertise and creating jobs as well.
The new Ola factory will not only cater to the Indian domestic market, but the products will also be exported to other international markets in Europe, Asia, Latin America and others. The first product from the brand, an electric scooter, is scheduled to be introduced in the coming months.
Bhavish Aggarwal, Chairman and Group CEO, Ola, said,
''We are excited to announce our plans to set up the world's largest scooter factory. This is a significant milestone for Ola and a proud moment for our country as we rapidly progress towards realising our vision of moving the world to sustainable mobility solutions across shared and owned mobility."
"This will be one of the most advanced manufacturing facilities in the world. This factory will showcase India's skill and talent to produce world-class products that will cater to global markets."
Thoughts On The Ola Electric Two-Wheeler Factory In Tamil Nadu
Ola is all set to enter the electric scooter segment in the Indian market, with its first product scheduled for launch in the coming months. Once introduced, the electric scooter will rival the likes of the Bajaj Chetak, TVS iQube and the Ather 450X.