The upcoming Ola scooter factory is expected to be the largest of its kind in the world.
The proposed Ola scooter factory that is going to be set up in Tamil Nadu will be drawing off a Rs 2,400-crore investment. Once up and running, the factory is expected to have a capacity of a whopping 20 lakh units per year and will create up to 10,000 jobs. The Memorandum of Understanding (MoU) was signed on 14 December, 2020 with the Government of Tamil Nadu.
Ola claim that this move is in line with the Prime Minister’s vision for a self-sustained India because in the coming years it will reduce the country’s dependence on foreign nations for electric vehicles; well on its way to becoming a flourishing sector. In addition to creating employment opportunities, the Ola scooter factory will also boost local manufacturing and improve the country’s technical expertise. It will also enhance India’s presence in the electric vehicle (EV) space. Ola further mentioned that with India’s repository of unique skill-sets, manpower and demography the country could very well become a leading figure when it comes to manufacturing EVs. The factory will cater to the needs of the Indian market and also produce products for export to markets including Europe, Asia and Latin America. The launch of the first product from this range is not too far off.
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.”
To know more about the Ola electric scooter, check out our previous story.
Story: Joshua Varghese