Ola Electric today announced the signing of a Memorandum of Understanding (MOU) with the government in Tamil Nadu to set up, what it calls, the largest electric scooter manufacturing plant in the world.
The company will spend a total of 2,400 crores ($320 million) to build the production facility. The corporation said the proposed plant would generate 10,000 jobs.
“This is going to be one of the most modern production plants in the world. This factory will highlight India’s potential and creativity to manufacture world-class goods that appeal to global markets,” said Bhavish Aggarwal, Chairman and CEO of Ola Group.
“It is a major achievement for Ola and a proud moment for our country as we drive quickly towards achieving our goal of pushing the planet towards affordable mobility solutions through shared and operated mobility.
Ola expects the plant to emerge as a global centre for the development of EVs. Units produced here will also be exported to the European, Asian and Latin American markets.
The factory will manufacture the forthcoming Ola range of two wheeler items beginning with Ola’s electric scooter.
Ola plans to roll out the scooters in India, Australia, the Netherlands, New Zealand, among others, by the first quarter of 2021.
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