Boost To Automobile Industry! Ola To Set Up World’s Largest Scooter Factory In Tamil Nadu
Total Views |
Chennai, December 14: In a bid to make India a manufacturing hub for electric vehicles, Ola signed the MoU with the Tamil Nadu government for an investment of 2,400 crores in setting up its first factory in the state.
The company said that the new facility is going to generate 10,000 jobs in the state. The company said the decision is an important step in making an AtmaNirbhar Bharat. It will also catalyze the 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 expects the plant to emerge as a major hub for the manufacturing of EVs.
Bhavish Aggarwal, Chairman and Group CEO, Ola, said, ‘‘We are excited to announce our plans to set up the world’s largest scooter factory. It 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".
He added, " It 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".
Excited to announce the world’s largest scooter factory in Tamil Nadu. An investment of 2,400cr, it'll create 10,000 jobs & showcase India's capability to manufacture global products. I thank honorable @CMOTamilNadu for his vision & support. https://t.co/LELVrxGXln @OlaElectric pic.twitter.com/4pvfB23MlO
— Bhavish Aggarwal (@bhash) December 14, 2020
The factory will produce Ola’s upcoming range of two-wheeler products starting with Ola’s electric scooter. It features many firsts including, a beautiful and seamless design, a unique removable banana battery that is easy to carry and can be charged anywhere as well as intelligent software that elevates the entire consumer experience of owning a scooter. Ola plans to bring many such design and software innovations to its entire product line of two-wheelers as they come to market in the coming months.
Moreover, Ola’s factory will also cater to markets in Europe, Asia, and Latin America, among others, the company said. The manufacturing facility will be completed in around 18 months and aims to sell around one million vehicles in its first year, according to company executives.