Ola, in a bid to make India a manufacturing hub for electric vehicles, has signed a MoU with the Tamil Nadu government.
The pact is for an investment of Rs 2,400 crore in setting up its first factory in the state. Once completed, the factory will create almost 10,000 jobs and will be the world’s largest scooter manufacturing facility, which will initially have an annual capacity of 2 million units.
Following Prime Minister Narendra Modi’s vision, Ola’s factory is an important step in making an AtmaNirbhar Bharat, said the mobility services provider.
According to Bhavish Aggarwal, Chairman and Group CEO, Ola, “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.”
He added that 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.
It will catalyze reduction of India’s import dependence in a key future sector like electric vehicles, boost local manufacturing, create jobs as well as improve the technical expertise in the country.
The factory will also galvanize India’s electric vehicle (EV) ecosystem and establish India as a key player in the EV manufacturing space. Ola believes that India with its unique skill-sets, manpower and demography is well placed to be a global hub for the cutting edge manufacturing of EVs.
Markets around the world
Ola’s factory will cater to customers not only in India but in markets around the world including Europe, Asia, Latin America, and more. The company is gearing up to launch the first of its range of highly anticipated electric scooters in the coming months.
The facility will make Ola’s upcoming range of two wheeler products starting with Ola’s electric scooter which has already won several prestigious design and innovation awards around the world including Marketing Innovation award at CES and the German Design Award.
The factory features many firsts including a beautiful and seamless design, unique removable banana battery that is easy to carry and can be charged anywhere as well as intelligent software that elevates the entire consumer experience of owning a scooter. Ola plans to bring many such design and software innovations to its entire product line of two wheelers as they come to market in the coming months.
(With inputs from Automotive Lead Research Team)
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