Ola, one of India’s largest ride-hailing companies, has announced their investment of Rs. 2400 Crore towards building the largest scooter manufacturing facility in the world. They have signed an MoU with the Government of Tamil Nadu, where the Ola will setup its first factory and reportedly create jobs for 10000 people.
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 electric scooter manufacturing facility will first begin building Ola’s own electric scooter, with a manufacturing capability of 2 million units per year. This factory will manufacture units not only for the Indian market, but also for other markets in Europe, Asia and Latin America. Ola wishes to establish India as a key figure in the EV manufacturing space and this factory is the first step.
Commenting on the announcement, 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 realizing 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.