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Ola to set up Rs 2,400 cr EV manufacturing unit in Tamil Nadu

Ola to set up Rs 2,400 cr EV manufacturing unit in Tamil Nadu
Photo Credit: VCCircle

ANI Technologies-run ride hailing giant Ola and the Tamil Nadu government on Monday signed a pact to set up a Rs 2,400 crore e-scooter factory in the state. 

The factory in Hosur district, which is expected to create about 10,000 jobs, will be the world’s largest scooter manufacturing facility, as per a statement. It will have an initial annual production capacity of 20 lakh units, the statement said. 

The facility will produce Ola’s range of electric vehicles, which are set to be launched in the coming months. The factory will cater to customers in Europe, Asia and Latin America, the statement said. 

“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,” Bhavish Aggarwal, chairman and group CEO of Ola, said. 

Read: Ola to launch electric scooters in New Zealand

The Indian region, the statement said, is well placed to become a global hub for electric vehicle manufacturing, given the country’s unique skill sets, manpower and demographics. 

The upcoming EVs, Ola said, will include a removable banana battery, which can be carried around and charged, along with intelligent software. Ola added that it plans to launch different models of the EVs going ahead and is on course with its earlier plan to hire over 2,000 employees for its electric business. 

Read: Ola sets up new tech centre 

The Bengaluru-based firm, which bought electric two wheeler manufacturer Etergo in May, will operate in the same space as Ather Energy, Hero Electric and TVS Motor Company.

Ola’s ride sharing app, which claims to have around 25 lakh driver partners globally, is functional in over 250 cities around the globe, including Australia, New Zealand and the UK.