Ola Electric will setup its electric scooter manufacturing plant in Tamil Nadu at an investment of Rs. 2400 crores and has signed a Memorandum of Understanding (MoU) with the State government.
With an initial annual production capacity of 2 million electric 2-wheelers, the factory, says Ola, will be the world’s largest electric scooter manufacturing facility.
The ride-hailing company states that its new factory will result in the creation of around 10,000 jobs and would cater to not just the Indian market, but also to customers in other Asian nations, Europe and Latin America, among other places.
Chairman and Group CEO of Ola, Bhavish Aggarwal, stated that this is a “significant milestone for Ola” as it progresses towards “moving the world to sustainable mobility solutions across shared and owned mobility”.
Backed by Softbank, Ola plans to launch its first electric scooter, likely a product from Amsterdam-based Etergo BV which it acquired earlier this year, in India and simultaneously across several European markets by January next year.
It, the electric scooter, will be manufactured at a facility in the Netherlands and is expected to be priced similar to other electric scooters currently on sale in India at the moment.
But, Ola does not want to stop with making electric scooters alone. It also plans to setup charging and battery swapping networks across the nation and is running pilots to deploy EVs and charging stations across several cities.
Ola Electric Scooter Plant
- Ola Electric scooter plant to come up in Tamil Nadu
- The firm plans to invest Rs. 2400 crores in the facility
- Claimed to become world’s largest electric scooter plant
Source – ETAuto.com