The plant is expected to create 10,000 employment opportunities with an annual capacity of 2 million units
In order to boost India with electric vehicle’s manufacturing hub, India’s ride hailing mobility firm Ola has signed a deal with the Tamil Nadu government to commence its first electric scooter factory in the state. The MoU has been signed with an investment of Rs 2,400 Crores, which is expected to create 10,000 employment opportunities with an annual capacity of 2 million units.
In line with Prime Minister Narendra Modi’s vision, Ola’s factory is an important step in making an AtmaNirbhar Bharat. 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.
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.
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.”
Earlier this year Ola announced plans to hire over 2,000 people for its electric business as it rapidly builds a suite of electric and smart urban mobility solutions for consumers around the world. Recently, the company also roped in General Motor Veteran Jose Pinheiro to head its global manufacturing and operations.