Ola to set up world’s largest e-scooter factory in Tamil Nadu

Tamil Nadu is already home to some famous auto industries. Now, Ola that is known for its cab services has signed an agreement with the Tamil Nadu government to set up its first electric scooter factory. The factory is estimated to cost up to Rs 2400 crore.

 

Ola to set up world’s largest electric scooter factory in Tamil Nadu

 

The ride-hailing platform had issued a statement saying its new initiative is in line with Prime Minister Modi’s vision of Atmanirbhar Bharat. “It will catalyse reduction of India’s import dependence in a key sector like electric vehicles, boost local manufacturing and create jobs as well as improve the technical expertise in the country,” it said.

As per the details emerged so far, the proposed factory will create nearly 10,000 jobs and will be world’s largest scooter manufacturing facility, once it is complete. The factory will initially have a capacity of 2 million units in one year.

Ola had further added that India was well-placed to be a global hub for cutting edge manufacturing of electric vehicles (EVs). The factory will also be one of the most advanced facilities in the world, say the makers. Apart from India, the new facility will cater to the needs of Europe, Asia and Latin America.

Ola Electric, the EV segment of Ola has raised funds from Tiger Global, Matrix India, Tata Sons Chairman Emeritus Ratan Tata, to the tune of $400 million.

The new unit will be operational starting next year.

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