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Ola To Invest Rs. 2400 Crores For Setting up Scooter Factory in Tamil Nadu

Ola, the leading cab aggregator, has signed the MoU with the Tamil Nadu government for an investment of 2,400 crores in setting up its first factory in the state to manufacture electric scooters. This factory will create almost 10,000 jobs and will be the world’s largest scooter manufacturing facility, which will initially have an annual capacity of 2 million units as stated by Ola.

The factory to be set-up by Ola will produce their upcoming range of two wheeler products starting with Ola’s electric scooter which has already won several prestigious design and innovation awards around the world including Marketing Innovation award at CES and the German Design Award. It features many firsts including a beautiful and seamless design, 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.

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 as stated by Ola in its press statement.

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.

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